SJB & Co Chartered Accountants
Pay your January tax bill in instalments The rising cost of living and high energy bills may mean that you are struggling to pay your January self-assessment tax bill. However, help is at hand and you may be able to set up a Time to Pay Arrangement to allow you to pay what you owe […]
Time to Pay Arrangements Read More »
No business owner wants to be the subject of a routine tax audit or investigation by Her Majesty’s Revenue and Customs (HMRC). There are some routine practices that, if followed, will lessen the likelihood of an audit or investigation. Here are five key actions to take: 1. Keep accurate and up-to-date financial records One of
Avoiding Tax Investigations – 5 Actions you must take Read More »
The Chancellor, Jeremy Hunt, presented his first Autumn Statement against a challenging UK and global economic backdrop. He set out three priorities for the Government, namely stability, growth and public services, and outlined the steps to the achieve these, including a number of tax measures designed to contribute to repair of public finances. Key dates
Autumn Statement -17 November 2022 Read More »
The VAT default surcharge will be replaced with new penalties, which will apply to everyone who submits a VAT return. Penalties will be charged for late submission once the relevant penalty points threshold is reached. Penalties for late payment will depend on the extent to which the payment is late. The way in which interest
Changes to VAT Penalties from 1 January 2023 Read More »
On 24 October, HMRC issued a news release reminding taxpayers within self-assessment that they had 100 days left in which to complete their 2021/22 self-assessment tax return. However, earlier deadlines apply to taxpayers who want to file a paper return or who want any tax that they owe for 2021/22 to be collected through an
Self assessment tax return deadlines Read More »
The new Chancellor, Kwasi Kwarteng, revealed his exceptional bid to regenerate the economy by cutting taxes today, 23rd September 2022. He is gambling that this will invigorate growth and this additional activity will provide the tax revenues to fund his tax cuts. Most pundits are reporting that this “mini” budget contains the biggest tax cuts
Mini Budget – 23 September 2022 Read More »
As accountants, a lot of our time is spent answering your queries and questions to help ensure you make the best financial decisions for your business. However, (after a while), the same questions inevitably start to crop up. So, in the hope that we can help out (and save you some time), we’ve answered your
Top 10 Accountancy Questions Read More »
As summer holidays are looming for many there are still a few tax and financial issues to consider. Self-assessment tax payments due by the end of the month and its time to send in tax return details soon if you have not already done so, please see below for more details. We also cover below
With rising inflation and recovery after Covid are you checking your turnover regularly? Alternatively would registration be beneficial? Most accounting software can cope with the calculation and filing of VAT returns. So the good news is, being obliged to register for VAT is not the time-consuming chore it used to be. The following notes set
Should you be registered for VAT? Read More »
Since April 2020, all UK residential properties disposed of by UK resident taxpayers – that create a taxable gain for Capital Gains Tax (CGT) purposes – will have to be reported to HMRC within 60-days of the disposal. Any CGT payable will have to be paid over to HMRC in the same 60-day window. Generally,
60 days to pay capital gains tax If you sell chargeable UK residential property Read More »
