• Posted January 5, 2018

How To Pay Your Self Assessment Tax Bill

As the 31st January deadline looms, we recommend paying your self assessment tax bill early to avoid missing the deadline due to unforeseen circumstances. The payment amount due for 31st January is available on your tax computation. This is a link to the HM Revenue & Customs website which details the various ways in which […]


  • Posted May 3, 2017

Tax Changes for Contractors

There have been unprecedented number of tax changes affecting the contractor sector recently. Below we have considered some of the changes due to affect the contractor sector this year. IR35 and Public Sector Contractors From April, most contractors working with the public sector are likely to be caught under the new IR35 rules. This means […]


  • Posted November 24, 2016

Changes to the VAT Flat Rate Scheme

In his first Autumn Statement as Chancellor, Philip Hammond, announced an introduction of a new 16.5% flat rate of VAT for businesses which have a very low cost base. These businesses will be known as a ‘limited cost trader’. From 1 April 2017, new and existing users of the Flat Rate Scheme will need to determine whether […]


  • Posted November 16, 2016

Who needs to complete a Self Assessment tax return?

The tax year runs from 6 April to 5 April to following year. You will need to complete a Self Assessment tax return if, in the last tax year any of the following applied to you: You were self-employed; You received more than £2,500 in untaxed income, for example from renting out a property or […]


  • Posted October 25, 2016

Deadline for paper tax returns approaches

The deadline for submitting your self-assessment paper tax return for the 2015/16 tax year is 31 October 2016. You need to complete form SA100, with details of any of the following sources of income: Income from self-employment Employment income Dividends Income/expenses from rental property Gains/losses made from selling assets. There are also additional sections for […]


  • Posted September 12, 2016

Would the marriage tax allowance benefit me?

Are you married or in a civil partnership? Is one of you a non-taxpayer? Is the other partner a basic rate tax payer? If the answer to all of these questions is yes, you may be entitled to claim the marriage tax allowance.   The marriage tax allowance allows the non-tax paying partner to transfer […]


  • Posted March 11, 2016

Taxation of Dividends

In the summer Budget, the chancellor George Osborne announced major changes to the current tax legislation which applies to dividend income. From 6 April 2016 there are 4 main changes coming into effect: The 10% dividend tax credit will be abolished. Individuals will have a £5,000 a year tax-free dividend tax allowance. This allowance will […]


  • Posted February 25, 2016

HMRC’s clampdown on undeclared income

In July 2015 HMRC launched a campaign to clampdown on individuals and businesses who let out rooms in their homes on the internet or sell goods on sites such as Amazon, ebay or etsy without paying tax. Many people who use these sites are unaware that they should be completing a self-assessment tax return for […]


  • Posted January 12, 2016

Leaving it to the Last Minute?

Last year 979,526 tax returns were filed on the last two days of filing (30 and 31 January), that is over 10% of the total number of returns submitted online. So why do people leave it right to the last minute? It doesn’t seem logical, how many news stories do you read of HMRC’s portal […]