5 common mistakes to look out for in your Self Assessment Tax Return

Completing and submitting your Self Assessment Tax Return (SATR) can seem like a daunting task, but having it prepared well in advance of the 31st January deadline will make your life so much easier. If you miss the deadline you will be subject to a penalty, and this sum will only increase the longer you…

Criminal Finance Act 2017: what does this mean for your agency?

It’s been well over a year since the Criminal Finance Act (CFA) was introduced 30th September 2017, which saw companies become criminally liable for any facilitation of tax evasion and tax avoidance schemes by any persons representing the company, and a recent Tax Journal has proposed that HMRC is ‘chomping at the bit to investigate.’ After the…

Making Tax Digital For Income Tax

As we prepare for the implementation of Making Tax Digital, it’s useful to know the ins-and-outs of the different stages of this legislation. We recently published an article discussing the first stage of Making Tax Digital – MTD for VAT. Today, we will be covering Making Tax Digital for Income Tax. Although this following stage…

What is MTD-compatible software?

MTD-compatible software is accounting software that is able to integrate with HMRC systems to send regular updates directly to HMRC. While HMRC will not be offering their own software, they are providing the Application Programming Interfaces (APIs) to commercial software developers such as FreeAgent. These accounting software providers are currently using HMRC’s APIs to develop…

Making Tax Digital for VAT

We recently covered the fundamentals of Making Tax Digital (MTD): whom it will affect, when it will come into effect, and the first steps to being MTD-ready. So now it’s time to get into the intricacies of this upcoming legislation. In this article, we’ll be talking about Making Tax Digital for VAT – the first step…

A landmark decision: contractor wins over £4000 holiday pay-out in IR35 case

The latest IR35 tribunal case win for contractor Susan Winchester has been penned as a ‘game-changer’ for the industry. After a year-long battle, Winchester successfully won over £4000 in compensation for holiday pay from HMRC, after being placed as inside-IR35.   Background In September 2016, Winchester’s company, SJW Marketing Solutions Ltd, was contracted by HMRC…