Spreading the cost of tax bills
One of the announcements by HMRC at the start of the coronavirus pandemic was the introduction of emergency measures to help those affected by COVID-19 using the existing Time to Pay service. Many businesses and self-employed people with outstanding tax liabilities were eligible to receive support
Tax relief if working from home
If you are an employee working from home, you may be able to claim tax relief for some of the bills you pay that are related to your work.
Employers can reimburse employees for the additional household expenses incurred by working at home. The relief covers expenses such as business telephone
Tax relief for job-related expenses
If you receive no compensation from your employer for work related expenses you have paid, you can still claim tax relief for some expenses that relate to working from home. HMRC will usually allow you to claim tax relief if you use your own money for things that you must buy for your job, and you
MTD for VAT – digital records required
The MTD for VAT regime started in April 2019 when businesses with a turnover above the VAT threshold of £85,000 became mandated to keep their records digitally and provide their VAT return information to HMRC using MTD compatible software.
From April 2022, MTD for VAT will be extended to all VAT
Gaps in NIC records
National Insurance credits can help qualifying applicants fill gaps in their National Insurance records. This can assist taxpayers to build the number of qualifying years of National Insurance contributions which can increase the amount of benefits a person is entitled to receive, for example, the
Hobbies and artificial trades
HMRC uses a number of different measures to help determine whether an activity is a trade irrespective of whether the activity leads to a profit or a loss. This includes looking at whether an activity is a hobby or artificial trade.
HMRC manuals implore inspectors to critically examine claims that
Tax Diary March/April 2022
1 March 2022 – Due date for Corporation Tax due for the year ended 31 May 2021.
2 March 2022 – Normally Self-Assessment tax for 2020-21 would need to be paid by 2 March or a 5% surcharge would be incurred. This year HMRC is giving taxpayers more time to pay and no surcharge will be incurred if
Don’t miss out on this tax allowance
HMRC used Valentine’s Day to issue a reminder to married couples and those in civil partnerships to sign up for the marriage allowance – if they are eligible and haven’t yet done so.
The marriage allowance applies to married couples and those in a civil partnership where a spouse or civil partner
Challenging your council tax band
The Valuation Office Agency (VOA) is a government body in England and Wales and an executive agency of HMRC. The Agency values properties for the purpose of Council Tax and for non-domestic rates in England and Wales. The council tax bands were set on 1 April 1991 for England and on 1 April 2003 for
Beware online rip-offs
The Competition and Markets Authority (CMA) has launched a new campaign to help shoppers spot and avoid misleading online practices that could result in them being ripped off.
If the campaign identifies any commercial practices that adversely affect consumers then they can take enforcement action