SJB & Co Chartered Accountants
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 »
Tax Returns! We are now nearly two months into the new tax year and it is time to think about completing tax returns! Tax return information should be available with banks and brokers making annual reports available online or sending them out and employers issuing end of year details. We are asking all clients to
June 22 Update – Tax returns Read More »
The final reporting obligations for employers that provide Benefits in Kind (BiK) to employees, including directors, is fast approaching. The following update sets out what needs to be done and by what date What needs to be included on P11D forms Items that should be included on a form P11D include any payments made, or
P11Ds: Reporting Benefits in Kind 2021-22 Read More »
PROPERTY BUSINESSES – TAX REVIEW CHECKLIST As Making Tax Digital is now just 2 years away, it is time to start preparations if you have not already done so. Landlords whose rental and self-employed income exceeds £10,000 per year will have to comply with the MTD rules. Note that it is gross income (turnover) that
Property tax issues and checklists Read More »
The Chancellor unveiled his Spring Statement today. With a background of increasing wage, fuel and raw material costs and rising inflation, it was hoped the Chancellor would bring some respite for small businesses and sole traders. Thankfully there is some small respite coming for small business owners and sole traders. Before you get too excited,
