If you’ve been overpaying you will be due a refund; if you’ve underpaid you will have to make a payment to HMRC. If the latter is true, often you can arrange to pay in instalments, rather than in a lump sum. You also should have to pay back taxes only from the past four year...
Tax investigations are more common for certain kinds of taxes than others. If your business is VAT-registered, or you hire and pay employees through PAYE, you should be prepared for routine tax checks. HMRC will want to look closely at any areas where mistakes are common. For income tax an...
In the UK, VAT numbers are processed and issued by HMRC (or HM Revenue & Customs) which is the national authority on revenue and customs. Upon registration, businesses can start actively trading in the UK, and can begin charging VAT when selling products (if applicable). The UK offers 3 ...
The payroll data (FPS) file needs to be submitted to HMRC on or before the usual payroll date. If paying electronically, payments of CIS, NI and PAYE are due to HMRC by 19th of the following month (22nd if paid electronically).
Relief to Business Asset Disposal Relief -- and the amount you can claim is now £1 million, it does still offer considerable tax advantages. In the current climate where HMRC and its masters are looking for revenues wherever they might be found, it remains to be seen how lon...
Pay As You Earn (PAYE) Brands based outside of the UK will need additional or other resources, including a proof of VAT compliance in their own country, passport copies, and proof of UK business activities. HMRC will then review and process the application. If it is successful, they will...
Pay As You Earn (PAYE) Brands based outside of the UK will need additional or other resources, including a proof of VAT compliance in their own country, passport copies, and proof of UK business activities. HMRC will then review and process the application. If it is successful, they wi...