HMRC has announced that there will be no penalties for late filing of the Self Assessment 2019/20 tax returns which were due to be filed on 31 January 2021. The new due date is 28 February 2021.
Self Assessment tax payments due to be paid by 31 January 2021 still stand and interest will be charged from 1 February 2021 on any outstanding liabilities. For more information on how to pay your tax liability please follow the link.
If you receive tips on ‘more than an occasional’ basis, there is new legislation which is effective from October 2024, that you need to be aware of. By more than occasional, HMRC seem to deem a few tips a year as occasional and so if your business receives tips more than this, you need to […]
Hopefully you are already aware that HMRC have introduced legislation that requires certain individuals to keep and submit electronic records on a quarterly basis, for their business / rental income. MTD comes in to force from 6 April 2026 if your turnover / rental income or both added together exceed £50,000 and from 6 April […]
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