How to Set Up an HMRC Payment Plan for Self-Assessment Income Tax
January 26, 2024
As the deadline for 2022/23 self-assessment tax returns and payments draws closer, you must take pre-emptive action if you cannot pay your obligations on time. HMRC normally issues a reminder letter initially if your tax return or payment is not received by 31st January.Howe...
Guide to Making Self-Assessment Income Tax Payments on Account
November 30, 2023
If you’re self-employed or work as a sole trader, you might have just received your HMRC income tax statement, showing a final payment due on 31st January for the 2022/23 tax year and your first payment on account, due on the same date, for 2023/24.Payments on account are ...
Self-Assessment Taxpayers Are Reminded to Submit 2022/2023 Paperwork and Records to SAS Accounting in Good Time
November 2, 2023
As we approach the winter period, many clients report increasingly busy trading environments as so many sectors gear up for the festive season and make preparations for holiday closures and heavy demand during the next few weeks.While there are often many priorities over the...
Basis Period Reforms Explained: All You Need to Know About Changes to Accounting Periods for Tax Declarations
October 23, 2023
From the 2023/24 tax year, HMRC has introduced changes to the reporting period requirements for partnerships and self-employed taxpayers. Your 'basis period' is the 12 months over which you prepare your accounts and submit details of your income and taxable profits to the ta...
HMRC Targets Taxi Drivers in Latest Tax Investigation
September 15, 2022
It's no secret that HMRC has been clamping down on income tax declarations and late payments to recoup the huge amounts of government spending over the last few years.
We reported way back in December 2010 that HMRC was back in action, refocusing on recovering unpaid taxes a...
HMRC Announces Greater Flexibility in 2020/21 Tax Returns
January 6, 2022
While self-assessment tax returns for the 2020/21 tax year remain due by 31st January 2022, HMRC has announced a series of measures to try and relieve some of the strain on businesses, which continue to be impacted by the pandemic.
Although submission and payment due dates h...
Self-Assessment Tax Return Deadlines - Why a Pandemic Isn't an Excuse for Late Payments!
January 15, 2021
Over the past year, we've seen several deferments and extensions, to help businesses and people cope with the demands of the pandemic, without falling behind with their tax obligations.
However, assuming that the self-assessment tax return deadline, which falls on 31st Janua...
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