Self Assessment Penalties: When and How to Appeal
HMRC provides guidance on the process of appealing against self assessment penalties for late filing or delayed payment in individual or partnership tax returns. Understanding Self Assessment Penalty Issuance HMRC issues penalty notices in cases where individuals or partnerships miss...
Warning: Don’t Incur Late Tax Penalties as 7.75% Interest Rate Looms
As the 31 January deadline for self-assessment tax returns approaches, taxpayers are receiving a stern warning to settle any outstanding amounts promptly and to avoid any late tax penalties. HMRC’s interest rates have surged to their highest in over two decades, with...
Self-Assessment Deadline Countdown: 3.8 Million Returns Still Outstanding
As the 31 January Self-Assessment deadline approaches, 3.8 million individuals are yet to file their tax returns, facing a potential £100 penalty. HM Revenue and Customs (HMRC) urges prompt action to avoid penalties and provides insights into meeting the deadline,...
HMRC Campaign Targets Online Sellers’ Place of Establishment
HMRC is gearing up for a new campaign to verify the place of establishment for businesses selling via online marketplaces. The tax agency has informed stakeholders, including the CIOT, that letters will soon be dispatched as part of this initiative....
Self Assessment Deadline: HMRC Offers New Payment Plans
In response to the looming deadline for self-assessment tax returns, a significant number of taxpayers, totalling almost 44,800 individuals, have proactively settled their tax bills, amounting to nearly £148 million. Proactive Taxpayers Take Advantage of Payment Plans As the deadline...
Surge in Buy-to-Let Company Formations Amid Tax Challenges
In light of a noticeable downturn in individual property acquisitions by landlords throughout the year 2023, a substantial and noteworthy surge emerged in the establishment of limited companies specifically dedicated to the management and operation of buy-to-let properties. This shift...
Self-Assessment Tax Return Tips To Make Your Filing Process Easier
As the 31 January deadline for self-assessment approaches, essential insights from experts shed light on key considerations when completing annual tax returns. In a new year filled with resolutions and business plans for 2024, it’s crucial not to overlook the...
File Overseas Entities Annual Updates: Deadline soon!
The one-year anniversary of the UK Register of Overseas Entities has passed, signalling the commencement of the updating duty process. Entities are required to file an annual update statement, even if no changes have occurred in the overseas entity’s profile, beneficial owners...
HMRC Launches Campaign: UK Crypto Investors Tax Risks
In a bid to ensure tax compliance among the burgeoning crypto community in the UK, HMRC has launched a targeted campaign, sending out over 8,000 advisory letters to crypto investors as the self-assessment deadline looms. The move is part of...
By using this website, you agree to our use of cookies to enhance your experience.
For more information, please see our Cookie Policy.
Close