HMRC has published guidance on the Making Tax Digital for Income Tax Self Assessment (MTD for ITSA) requirements for sole traders and landlords.
Monday, March 4, 2024Over one million self assessment taxpayers missed the filing deadline at midnight on 31 January, according to data published by HMRC.
Monday, March 4, 2024HMRC is warning people to be wary of bogus tax refund offers following the self assessment deadline on 31 January.
Monday, March 4, 2024Just a week after HMRC released new guidance that classed double-cab pickups as cars rather than vans, the government reversed the decision.
Monday, March 4, 2024The amount needed for a single person to have a moderate retirement has risen to £31,300, according to the Pensions and Lifetime Savings Association (PLSA).
Monday, March 4, 2024The government has named and shamed over 500 UK employers for underpaying their employees.
Monday, March 4, 2024HMRC has published the latest issue of the Employer Bulletin.
Monday, March 4, 2024New company car advisory fuel rates have been published and took effect from 1 March 2024.
Monday, March 4, 2024Government borrowing fell to £7.8 billion in December 2023 giving Chancellor Jeremy Hunt more scope to make the tax cuts he has hinted at in the Spring Budget.
Tuesday, February 6, 2024Tax cut promises may need to be scrapped as a result of the UK being in an 'unfortunate economic and fiscal bind', the Institute for Fiscal Studies (IFS) has warned.
Tuesday, February 6, 2024As the use of cryptoassets continues to grow HMRC is warning people to check if they need to complete a self assessment tax return for the 2022/23 tax year to avoid potential penalties.
Tuesday, February 6, 2024The government should raise the turnover threshold for VAT from £85,000 to £100,000, according to the Federation of Small Businesses (FSB).
Tuesday, February 6, 2024The government must clarify plans around new customs processes as firms remain in the dark about crucial aspects of their operation, says the British Chambers of Commerce (BCC).
Tuesday, February 6, 2024Artificial intelligence (AI) will affect almost 40% of all jobs around the world and deepen inequality, the International Monetary Fund (IMF) has warned.
Tuesday, February 6, 2024Tens of thousands more over 50s are now running their own businesses despite an overall decline in self-employment since 2020, according to the Association of Independent Professionals and the Self-Employed (IPSE).
Tuesday, February 6, 2024Just 35% of UK adults are confident they could complete the self assessment tax return form correctly, according to research by Standard Life.
Tuesday, February 6, 2024Information and links about the budget report
Tuesday, March 19, 2024Information and links about the autumn statement
Tuesday, March 19, 2024Is this relevant to you?
The final deadline of 5th April 2024 is relevant to individuals who have not considered year-end tax planning issues. These issues include:
Please get in touch if you would like any further advice on these or any other issues.
Is this relevant to you?
This deadline is relevant to employers who provide any employees with the use of a car. The form P46 (car) only needs to be completed where a car is first provided or an additional car is provided, or an employee ceases to have the use of a car without replacement. The completion of the form enables HMRC to amend the individual’s coding notice to reflect the change in benefit. This notification may be made using the employer's payroll software, the PAYE Online service for employers or by completing the relevant paper form online, printing and sending to HMRC. Where one car is merely replaced with another, this may also be notified online.
A change in car for car benefits which are being ‘payrolled’ should not be reported on a P46(car).
The submission deadline for an electronic P46(car) is 5 April 2024. If a paper version is to be submitted, the deadline is 3 May 2024.
Is this relevant to you?
This deadline is relevant to employers who have made PAYE deductions from their employees' salaries and to contractors who have paid subcontractors under the CIS.
Employers are required to make payment to HMRC of the income tax, national insurance and student loan deductions. Contractors are required to make payment to HMRC of the tax deductions made from subcontractors under the CIS.
Postal payments for month/quarter ended 5 April should reach your HMRC Accounts Office by this date.
Where the payment is made electronically the deadline for receipt of cleared payment is 22nd April 2024. Interest will be charged if payment is made late. Penalties also apply.
Is this relevant to you?
This deadline is relevant to employers.
This is the last day by which your final Full Payment Summary (FPS) for the 2023/24 tax year should be sent to HMRC.
Please be aware that if we deal with the payroll on your behalf we will ensure that this matter is dealt with on a timely basis.
Is this relevant to you?
This deadline is relevant to employers who have made PAYE deductions from their employees' salaries and to contractors who have paid subcontractors under the CIS.
Is this relevant to you?
This deadline is relevant to small employers and contractors only. As a small employer with income tax, national insurance and student loan deductions of less than £1,500 a month you may make payments to HMRC of the income tax, national insurance and student loan deductions on a quarterly basis.
Postal payments for month/quarter ended 5 April should reach your HMRC Accounts Office by this date.
Where the payment is made electronically the deadline for receipt of cleared payment is 22nd April 2024. Interest will be charged if payment is made late. Penalties also apply.
Is this relevant to you?
This deadline is relevant to employers who have made PAYE deductions from their employees' salaries and to contractors who have paid subcontractors under the CIS.
Employers are required to make payment to HMRC of the income tax, national insurance and student loan deductions. Contractors are required to make payment to HMRC of the tax deductions made from subcontractors under the CIS.
Postal payments should reach your HMRC Accounts Office by the last working day before Sunday 19 May 2024 (Friday 17 May 2024).
Where the payment is made electronically the deadline for receipt of cleared payment is 22nd May 2024. Interest will be charged if payment is made late. Penalties also apply.
Is this relevant to you?
This deadline is relevant to employers.
New Advisory Fuel Rates (AFR) for company car users apply from today. The rates can be found here.
Is this relevant to you?
This deadline is relevant to employers who have made PAYE deductions from their employees' salaries and to contractors who have paid subcontractors under the CIS.
Employers are required to make payment to HMRC of the income tax, national insurance and student loan deductions. Contractors are required to make payment to HMRC of the tax deductions made from subcontractors under the CIS.
Where the payment is made electronically the deadline for receipt of cleared payment is Friday 21 June 2024, unless you are able to arrange a ‘Faster Payment’ to clear on or by Saturday 22nd June 2024. Interest will be charged if payment is made late. Penalties also apply.
Is this relevant to you?
This deadline is relevant for employers who wish to pay the tax and NI on benefits provided to their employees. Agreement must be reached with HMRC of the benefits and related liabilities which are not to be shown on the forms P11D by this date.
Please be aware that if we deal with the PAYE Settlement Agreement on your behalf that we will ensure this matter is dealt with on a timely basis.
Is this relevant to you?
This deadline is relevant to employers. Details of benefits and expenses provided to employees must be reported to HMRC on the relevant forms P11D. The P11D(b) form is used to calculate the Class 1A NI liability.
Please be aware that if we deal with the forms P11D on your behalf that we will ensure this matter is dealt with on a timely basis.
Is this relevant to you?
This deadline is relevant for companies who have reportable events for the tax year 2023/24.
Is this relevant to you?
This deadline is relevant for employers who have provided their employees with benefits for 2023/24. These benefits should have been reported by the 6th July and the amount of the Class 1A employer only NI liability due calculated on the form P11D(b). Where the payment is made electronically the deadline for receipt of cleared payment is 22nd July 2024. Interest will be charged if payment is made late. Penalties may also apply.
Is this relevant to you?
This deadline is relevant to small employers and contractors only. As a small employer with income tax, national insurance and student loan deductions of less than £1,500 a month you may make payments to HMRC of the income tax, national insurance and student loan deductions on a quarterly basis.
Where the payment is made electronically the deadline for receipt of cleared payment is 22nd July 2024. Interest will be charged if payment is made late. Penalties also apply.
Is this relevant to you?
This deadline is relevant to employers who have made PAYE deductions from their employees' salaries and to contractors who have paid subcontractors under the CIS.
Employers are required to make payment to HMRC of the income tax, national insurance and student loan deductions. Contractors are required to make payment to HMRC of the tax deductions made from subcontractors under the CIS.
Where the payment is made electronically the deadline for receipt of cleared payment is 22nd July 2024. Interest will be charged if payment is made late. Penalties also apply.
Is this relevant to you?
This deadline is relevant to individuals who need to complete a self assessment tax return and make direct payments to HMRC in respect of their income tax, Class 4 NI, capital gains tax and High Income Child Benefit Charge liabilities.
The second payment on account in respect of income tax and any Class 4 NI is due for payment by 31st July 2024. Interest is charged on any late payments.
If we have already dealt with this matter on your behalf you need take no action.
Is this relevant to you?
This deadline is relevant to employers who provide any employees with the use of a car. The form P46 (car) only needs to be completed where a car is first provided or an additional car is provided, or an employee ceases to have the use of a car without replacement. The completion of the form enables HMRC to amend the individual's coding notice to reflect the change in benefit. This notification may be made by completing and printing off the relevant by paper or online forms.
Where one car is merely replaced with another, this may be notified online.
A change in car for car benefits which are being 'payrolled' should not be reported on a P46(car).
Is this relevant to you?
This deadline is relevant to employers who have made PAYE deductions from their employees’ salaries and to contractors who have paid subcontractors under the CIS.
Employers are required to make payment to HMRC of the income tax, national insurance and student loan deductions. Contractors are required to make payment to HMRC of the tax deductions made from subcontractors under the CIS.
Where the payment is made electronically the deadline for receipt of cleared payment is 22nd August 2023 Interest will be charged if payment is made late. Penalties also apply.
New Advisory Fuel Rates (AFR) for company car users apply from today. The rates can be found here.
Is this relevant to you?
This deadline is relevant to employers who have made PAYE deductions from their employees' salaries and to contractors who have paid subcontractors under the CIS.
Employers are required to make payment to HMRC of the income tax, national insurance and student loan deductions. Contractors are required to make payment to HMRC of the tax deductions made from subcontractors under the CIS.
Where the payment is made electronically the deadline for receipt of cleared payment is Friday 20 September 2024, unless you are able to arrange a ‘Faster Payment’ to clear on or by Sunday 22nd September 2024. Interest will be charged if payment is made late. Penalties also apply.
Is this relevant to you?
This deadline is relevant to individuals who have not received a self assessment tax return for the year ended 5th April 2024 but who believe they have received income or capital gains which will result in a tax liability..
Individuals must notify HMRC of their liability so that a self assessment return can be issued in good time for the submission deadline of 31st January 2025.
If we have already dealt with this matter on your behalf you need take no action.
Is this relevant to you?
This deadline is relevant to small employers only. As a small employer with income tax, national insurance and student loan deductions of less than £1,500 a month you may make payments to HMRC of the income tax, national insurance and student loan deductions on a quarterly basis.
Postal payments should reach your HMRC Accounts Office by the last working day before Saturday 19 October 2024 (Friday 17 October 2024).Where the payment is made electronically the deadline for receipt of cleared payment is 22nd October 2024. Interest will be charged if payment is made late. Penalties also apply.
Is this relevant to you?
This deadline is relevant to employers who have made PAYE deductions from their employees' salaries and to contractors who have paid subcontractors under the CIS.
Employers are required to make payment to HMRC of the income tax, national insurance and student loan deductions. Contractors are required to make payment to HMRC of the tax deductions made from subcontractors under the CIS.
Postal payments should reach your HMRC Accounts Office by the last working day before Saturday 19 October 2024 (Friday 17 October 2024).
Where the payment is made electronically the deadline for receipt of cleared payment is 22nd October 2024. Interest will be charged if payment is made late. Penalties also apply.
Is this relevant to you?
This deadline is relevant for employers who have entered into a PAYE settlement agreement to pay tax and national insurance in respect of benefits in kind for their employees for the year ended 5th April 2024.
Postal payments should reach your HMRC Accounts Office by the last working day before Saturday 19 October 2024 (Friday 17 October 2024).
Where the payment is made electronically the deadline for receipt of cleared payment is 22nd October 2024. Interest will be charged if payment is made late. Penalties also apply.
If we are already dealing with this matter on your behalf you need take no action.
Is this relevant to you?
This deadline is only relevant for those individuals who complete a 'paper' self assessment tax return and who are employees. Where you have an underpayment you may request that HMRC collect the tax outstanding by making an adjustment to your tax code for the year 2025/26.
Please note that where your return is submitted online then the filing deadline for 'coding out' is 30 December 2024.
If we are already dealing with this matter on your behalf you need take no action.
Is this relevant to you?
This deadline is relevant to individuals who need to complete a self assessment tax return for 2023/24 and wish to file the return in a 'paper' form. Self assessment returns submitted after this date must be submitted electronically.
Please note that this deadline is not relevant if we are going to submit an online return for you or you are going to deal with the completion of an online return yourself. The deadline for submission of online returns is 31 January 2025.
Is this relevant to you?
This deadline is relevant to employers who provide any employees with the use of a car. The form P46 (car) only needs to be completed where a car is first provided or an additional car is provided, or an employee ceases to have the use of a car without replacement. The completion of the form enables HMRC to amend the individual’s coding notice to reflect the change in benefit. This notification may be made by completing and printing off the relevant by paper or online forms.
Where one car is merely replaced with another, this may be notified online.
A change in car for car benefits which are being 'payrolled' should not be reported on a P46(car).
Is this relevant to you?
This deadline is relevant to employers who have made PAYE deductions from their employees’ salaries and to contractors who have paid subcontractors under the CIS.
Employers are required to make payment to HMRC of the income tax, national insurance and student loan deductions. Contractors are required to make payment to HMRC of the tax deductions made from subcontractors under the CIS.
Where the payment is made electronically the deadline for receipt of cleared payment is 22nd November 2023. Interest will be charged if payment is made late. Penalties also apply.
New Advisory Fuel Rates (AFR) for company car users apply from today. The rates can be found here.
Is this relevant to you?
This deadline is relevant to employers who have made PAYE deductions from their employees’ salaries and to contractors who have paid subcontractors under the CIS.
Employers are required to make payment to HMRC of the income tax, national insurance and student loan deductions. Contractors are required to make payment to HMRC of the tax deductions made from subcontractors under the CIS.
Where the payment is made electronically the deadline for receipt of cleared payment is Friday 20 December 2024, unless you are able to arrange a ‘Faster Payment’ to clear on or by Sunday 22nd December 2024. Interest will be charged if payment is made late. Penalties also apply.
Is this relevant to you?
This deadline is relevant for those individuals who complete a self assessment tax return online and who are employees. Where you have an underpayment you may request that HMRC collect the tax outstanding by making an adjustment to your tax code for the year 2025/26.
Is this relevant to you?
This deadline is relevant to employers who have made PAYE deductions from their employees’ salaries and to contractors who have paid subcontractors under the CIS.
Employers are required to make payment to HMRC of the income tax, national insurance and student loan deductions. Contractors are required to make payment to HMRC of the tax deductions made from subcontractors under the CIS.
Postal payments should reach your HMRC Accounts Office by the last working day before Sunday 19 January 2025 (Friday 17 January 2025).Where the payment is made electronically the deadline for receipt of cleared payment is 22nd January 2025. Interest will be charged if payment is made late. Penalties also apply.
Is this relevant to you?
This deadline is relevant to small employers and contractors only. As a small employer with income tax, national insurance and student loan deductions of less than £1,500 a month you may make payments to HMRC of the income tax, national insurance and student loan deductions on a quarterly basis.
Postal payments should reach your HMRC Accounts Office by the last working day before Sunday 19 January 2025 (Friday 17 January 2025).
Where the payment is made electronically the deadline for receipt of cleared payment is 22nd January 2025. Interest will be charged if payment is made late. Penalties also apply.
If we have already dealt with your self assessment return on your behalf you need take no action.
Is this relevant to you?
This deadline is relevant to individuals who need to complete a self assessment tax return and make direct payments to HMRC in respect of their income tax, Class 4 or voluntary NICs, capital gains tax and High Income Child Benefit Charge liabilities.
There is a penalty of £100 if your return is not submitted on time, even if there is no tax due or your return shows that you are due a tax refund.
The balance of any outstanding income tax, Class 4 or voluntary NICs, capital gains tax and High Income Child Benefit Charge for the year ended 5th April 2024 is due for payment by 31st January 2025. Where the payment is made late interest will be charged.
The first payment on account for 2024/25 in respect of income tax and any Class 4 NI or High Income Child Benefit Charge is also due for payment by 31st January 2025.
Is this relevant to you?
This deadline is relevant to employers who provide any employees with the use of a car. The form P46 (car) only needs to be completed where a car is first provided or an additional car is provided, or an employee ceases to have the use of a car without replacement. The completion of the form enables HMRC to amend the individual’s coding notice to reflect the change in benefit. This notification may be made by completing and printing off the relevant by paper or online forms. Where one car is merely replaced with another, this may be notified online.
A change in car for car benefits which are being 'payrolled' should not be reported on a P46(car).
Is this relevant to you?
This deadline is relevant to employers who have made PAYE deductions from their employees’ salaries and to contractors who have paid subcontractors under the CIS. Employers are required to make payment to HMRC of the income tax, national insurance and student loan deductions. Contractors are required to make payment to HMRC of the tax deductions made from subcontractors under the CIS.
Where the payment is made electronically the deadline for receipt of cleared payment is Friday 21 February 2025, unless you are able to arrange a ‘Faster Payment’ to clear on or by Saturday 22nd February 2024. Interest will be charged if payment is made late. Penalties also apply.
New Advisory Fuel Rates (AFR) for company car users apply from today. The rates can be found here.
Is this relevant to you?
This deadline is relevant to individuals who need to complete a self assessment tax return and make direct payments to HMRC in respect of their income tax, Class 4 or voluntary NICs, capital gains tax or High Income Child Benefit Charge liabilities.
The balance of any outstanding income tax, Classes 2 and 4 National Insurance, capital gains tax and High Income Child Benefit Charge for the year ended 5th April 2024 was due for payment by 31st January 2025. Where the payment is made late interest will be charged. On 3 March 2025 a late payment penalty of 5% will be added to the outstanding liability.
If we have already dealt with this matter on your behalf you need take no action.
Is this relevant to you?
This deadline is relevant to employers who have made PAYE deductions from their employees’ salaries and to contractors who have paid subcontractors under the CIS.
Employers are required to make payment to HMRC of the income tax, national insurance and student loan deductions. Contractors are required to make payment to HMRC of the tax deductions made from subcontractors under the CIS.
Where the payment is made electronically the deadline for receipt of cleared payment is Friday 21 March 2025, unless you are able to arrange a ‘Faster Payment’ to clear on or by Saturday 22nd March 2025. Interest will be charged if payment is made late. Penalties also apply.
Is this relevant to you?
The final deadline of 5th April 2025 is relevant to individuals who have not considered year-end tax planning issues. These issues include:
Please get in touch if you would like any further advice on these or any other issues.