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…

Giving back and getting back this Christmas: tax relief and expenses

With just over 2 weeks left until Christmas, it’s safe to say the winter celebrations are in full swing. With that, we wanted to recap on the expenses and tax relief you may be able to claim through your charitable donations and work festivities. Getting a little back for yourself, while treating and gifting others…

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…

2018 Budget Statement predictions: IR35 and MTD

It has been announced that Chancellor of the Exchequer, Philip Hammond, on Monday 29th October, will present the 2018 Budget Statement. Many were expecting the Autumn Budget to be presented at a later date, but it has been brought forward to avoid clashing with any potential fall-out from the final Brexit negotiations.   IR35 For…

Resounding industry disapproval regarding the 2019 Loan Charge

We recently published an article overviewing HMRC’s new legislation, the 2019 Loan Charge. The government claims this to be the next phase in tackling tax avoidance. However many have raised concerns about the harshness of the new bill. There are calls for the taxman to be compassionate and flexible towards those they are taxing as…

Making Tax Digital: what you need to know so far

The Making Tax Digital (MTD) initiative was first proposed in the 2015 Spring Budget. It is an essential part of the government’s strategy to make the tax administration system more efficient, effective and easier for taxpayers.   What does this mean for you? Making Tax Digital aims to make it simpler for business-owners, landlords, and…