As a result of strike action planned by HMRC staff, no fines will be handed out to anyone who submits their self assessment tax returns online in the first two days of February. The official deadline for submitting their self assessment tax returns is scheduled for 31 January, but a planned strike for that day […]
Deadline for filing your tax return For individuals in the UK, the deadline for filing your paper tax return is 31 October each year. For online filing of tax returns the deadline is 31 January each year. If you happen to file you paper tax return after 31 October or your online tax return after […]
When it comes to your tax return, deadline for filing is extremely important. However, most people are complacent of this deadline set by HMRC and ends up paying needless penalties. Therefore, it is important to remember of the advantages that online filing of your tax return can bring you. This process has been facilitated by […]
The government is suggesting that every taxpayer should be given online access to their personal tax records. This is a recommendation outlined by the public consultation on making the tax system easier to understand. The other steps outlined include pre filled tax returns to people in the tax return system. All taxpayers will be sent […]
According to the reports coming out from HMRC, HMRC has more Self Assessment statements than usual to issue this year. Bearing in mind that these self assessment tax return forms are issued in July, this year HMRC has taken steps to issue some in August as well. If you are yet to receive your tax […]
Selling your business can be an extremely complex and a time consuming exercise, and can require the expertise of professionals such as consultants, accountants, and tax advisors. If you find you don’t really want to sell your business, you have the option of reorganizing your business on a tax-deferred basis. This is one of the […]
Electronic communication and transactions are an integral part of dealings with HMRC. However, as always there are two sides to every story. Along with the many advantages comes the risk of frauds and scams. Complaints on individuals claiming to be someone they are not, and obtaining information they are not entitled to, are the most […]
Freehold Property A freehold property is where the owner has complete and absolute ownership of the land, and all buildings that stand on the land. There is no limit of time to hold the property like in the case of leasehold property. A freehold property lies with the titleholder unless they transfer it of their […]
Tax return or in other words self assessment is the buzz word during the month of Janaury as everybody is rushing to file their respective documents with HMRC to avoid any unnecessary penalties. For a first time user filing the tax return could be a complicated task. Getting it wrong leads to harsh consequences. The […]