What is a HMRC tax enquiry? HMRC Investigations are something most of us will hopefully never face. When you complete and submit your self-assessment tax return by the 31st January every year, HMRC immediately processes your tax return and makes basic checks to ensure the accuracy of the calculations. HMRC now have a powerful and …
Knowing your numbers is important for all businesses big or small but for the numbers to really be useful they need to be accurate and current. The maintenance of the numbers is usually achieved by a combination of bookkeeping and accounting which for many would appear to be one and the same but there is …
1 Big Difference Between Bookkeeping And Accounting Read More »
If you are a PSC Limited Company contractor providing your professional services to a client or a business owner that engages with freelancers and contractors and need some guidance in navigating the IR35 changes in 2021, then keep watching: A brief recap on the IR35 changes in 2021 The salient points of the new off …
Whether you’re applying for a loan, a mortgage or even a visa there are many situations where you may need to prove your income and you may want to consider obtaining a SA302 form For employees who are paid via PAYE this doesn’t tend to cause any issues as they can simply use payslips and …
When you start a new job it is important that your new employer is in possession of all the relevant details needed to add you to the payroll and ensure the correct amount of tax is deducted from your salary moving forward. This is usually done when the employee provides the new employer with a …
If you have interests in the UK then it is important to understand your status for tax residency in UK. Whether or not you are considered a UK tax resident can determine whether it’s your worldwide income or just your UK income that will be subject to tax in the UK. As you can imagine …
Tax Residency In UK – 3 Steps To Know Your Status Quickly Read More »
The meteoric rise of this entirely new asset class has been driven largely by retail investors (private individuals) who see cryptocurrency as the investment opportunity of a lifetime. Equally there are those who believe cryptocurrencies won’t stand the test of time. Whichever side of the fence you sit on it’s clear that as it stands …
If you want to gift money to family members it’s important that you understand the potential tax implications of making those gifts. Gaining a basic understanding and staying within the rules may enable you to avoid paying tax on the gift altogether and provides you with a great tool from the tax planning arsenal. In …
Child benefit is a helping hand from HMRC for many families. The tax free payment is often used by parents to top up their income but for some who are deemed high earners HMRC will actually claw back that payment in the form of a high income child benefit charge. In this article we will …
The High Income Child Benefit Charge Complete Guide Read More »
Whether you’re rich or poor, an individual or a business, nobody enjoys paying tax. Of course the taxation system serves a purpose that many of us don’t fully appreciate but seeing part of your hard earned money disappear from sight isn’t something that sits well with most people and businesses. As a result some people …
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