Tax returns – have you told HMRC your plans?
Anyone planning to complete a tax return for 2021-22 must notify HM Revenue and Customs (HMRC) by Wednesday. Before customers can complete their first tax return, they need to register with HMRC to receive their Unique Taxpayer Reference (UTR) which they need to file a return. The tax return deadline for the 2021 to 2022 […]
Winter Fuel Support
If you were born on or before 25 September 1956 you could receive between £250 and £600 to help you pay your heating bills. This is known as a ‘Winter Fuel Payment’. The amount you receive will include a ‘Pensioner Cost of Living Payment’. This is between £150 and £300. You will only get this […]
Buy-to-let loan interest trap
Although finance costs, predominantly loan interest, are now disallowed as an expense that can be utilised to reduce taxable rental income, these charges do qualify for a tax credit limited to 20% basic rate Income Tax. For example, if your loan/mortgage interest amounts to £10,000 this cannot be used to reduce your rental income. It […]
Ways to pay your VAT bill
Make sure your payment will reach HMRC’s bank account by the payment deadline. You may have to pay a surcharge if you do not pay on time. If you are not sure of the actual payment deadline you can use the VAT payment deadline calculator to work out how much time to allow. To make […]
Tax Diary October/November 2022
1 October 2022 – Due date for Corporation Tax due for the year ended 31 December 2021. 19 October 2022 – PAYE and NIC deductions due for month ended 5 October 2022. (If you pay your tax electronically the due date is 22 October 2022.) 19 October 2022 – Filing deadline for the CIS300 monthly […]
