HMRC is sending letters to taxpayers who it believes should ensure that any legal interpretation applied in a tax return or other document sent to HMRC is ‘correct in both fact and law’ as set out in its Guidelines for Compliance 13. HMRC says that where the taxpayer has relied on a particular interpretation of the...
Starting 5 April 2025, significant changes will affect sole traders and company directors regarding their Self-assessment tax returns. The UK government has enacted legislation mandating additional disclosures to enhance transparency and accuracy in tax reporting. Key Changes for Sole Traders For sole traders, the new requirements focus on the commencement and cessation of trading activities:...
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Copyright by CareAccountancy. All rights reserved.
