Accounting News And Articles

There are many options when it comes to paying your tax bill, including bank transfer, debit card, and direct debit. Payment deadlines The deadline to pay your balancing payment of tax due for the 2023 tax year is the 31st of January. This is also the deadline for the first payment on account for the 2024 tax year- please see these explained below, as they may not apply to you. HMRC accepts payments towards your tax bill via: Direct debit Bank transfer Telephone bank transfer

So the budget was announced yesterday and it was full of useful information that we are sure you want to know more about, more specifically the extra support announced for businesses as you are allowed to start to re-open. Below we have summarised all of the information for you, and over the next couple of weeks, we will release more detailed information including videos on our YouTube channel about the support now available to businesses. Let's start off with what was annou

For the 2018/ 2019 tax year, 958,296 taxpayers (around 8.18%) missed the 31st January 2020 filing deadline with 11,122,967 returns being received by the 31st January 2020. For the 2019/ 2020 tax year, you want to make sure you are part of the over 11 million taxpayers that got their returns submitted on time. It has already been confirmed by HMRC that they will not be extending the deadline or removing the automatic fines of £100 due to Covid-19 so you must ensure you make th

Following on from the announcement that England will be going into its second lockdown from this Thursday, increased support has been announced for the self-employed. The next instalment would have been for 40% of trading profits capped at £3,750 covering November through to January and paid in December. However, it has now been increased to 80% for November. As the SEISS is calculated of 3 months, the total grant will go from 40% to 55% of trading profits for November to Jan