Self-assessment Tax Return for Sole Traders Suppose you are self-employed or are evaluating beginning a new venture. In that case, becoming a sole proprietor is usually the most straightforward and inexpensive way to start and run a successful business. It allows you to run your business how you desire to, but it’s important to note...
Do you have a self-assessment for your small business that you need to file but don’t know how to do it? Whether your first attempt at a self-assessment tax return or you’ve accomplished it before, you still need to comprehend a few aspects. Whether you are a self-made business owner, freelancer, or have many earning...
The government has published the details of the Finance Bill 2021 on 11 March 2021. The Bill highlights the important law measures(announced in the recent 2021 Budget) set to come into legislation. Chancellor Rishi Sunak announced the following measures in his budget speech: an extension of the stamp duty holiday in England a super-deduction capital...
HMRC has announced a new online VAT Deferral New Payment Scheme for the businesses that deferred VAT payments last year. Businesses can now pay in smaller monthly instalments. HMRC said that If businesses deferred VAT payments due between 20 March 2020 and 30 June 2020 and still have payments to make, they can: pay the...
The domestic VAT reverse charge for construction services will come into effect on 1 March 2021, according to HMRC. It was initially scheduled to come into effect from 1 October 2019 but was postponed until October 2020. The VAT reverse charge for construction is an extension of the Construction Industry Scheme (CIS).It applies only to...
UK government has extended the Bounce Back Loan repayment terms for a further six months. Bounce Back Loan borrowers will now have the opportunity to make payments according to their individual circumstances. They now have the option to delay all repayments for a further six months. Pay as You Grow will be available to over...
HMRC has extended the self assessment deadline by a month until 28 February. It is a great relief for the customers struggling due to Coronavirus pandemic. Self Assessment customers will not receive a penalty for filing their online tax return late, HMRC announced on 25 January. Already more than 8.9 million taxpayers have filed their...
Contact HM Revenue and Customs (HMRC) as soon as possible if you have missed your tax bill payment. How you contact HMRC depends on what you need to pay. You have to pay interest if you pay late. You may avoid penalties by contacting HMRC as soon as possible. If you cannot pay because of...
HMRC’s new data has shown that 2,700 people used Christmas day to file their tax returns. Many taxpayers chose to send the documents in just after lunchtime on 25 December. The peak time for completing tax returns was between 2 pm to 2.59 pm. More than 200 customers pressed ‘submit’ on their online form in...
The experts have predicted a rise in the number of CBILS applications. The government’s Coronavirus Business Interruption Loan Scheme (CBILS) supports small businesses that have lost capital due to covid-19 outbreak. The finance lender MarketFinance recently surveyed 5,000 UK companies, employers with a minimum turnover of £250,000. The lender conducted the study in November 2020...
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Copyright by CareAccountancy. All rights reserved.
