From April 2019 VAT registered businesses and organisations with taxable turnover above the VAT threshold of £85,000 are required to maintain their accounting records digitally in a software product or spreadsheet and also submit their VAT returns to HMRC using compatible software. Here are a few programmes that are compatible with MTD for VAT: XeroSage… Continue reading MTD for VAT – Are you ready?
If you are entitled to Working Tax Credit or are receiving Universal Credit, or know someone who is, then this could be for you. The “Help to Save” is a type of savings account; it allows people who are entitled to Working Tax Credit or receiving Universal Credit to get a bonus of 50p for every £1… Continue reading Get help with saving.
Now that the Tax Return season has ended you may receive an email claiming you are due a tax refund. Be aware that it’s a scam to steal your personal details. Criminals are targeting the millions of people who file Self-Assessment Tax Returns online. The fraudsters are sending fake emails purporting to be from HMRC… Continue reading Tax Refund Scams – What to look out for
Last June HM Revenue and Customs launched two educational videos which are aimed at preparing teenagers for working life. One of the videos will help 14 to 17 year olds understand what it means when they receive their national insurance number and the benefits of using a personal tax account. The other new video is… Continue reading HMRC helps teenagers prepare for the world of work
The following Tax Events are due on 19th February 2019: Business Tax Events PAYE, Student loan and CIS deductions are due for the month to 5th February 2019 This deadline is relevant to employers who have made PAYE deductions from their employees' salaries and to contractors who have paid subcontractors under the CIS. Employers are… Continue reading Tax Reminder 19th February 2019
If you have a job when you’re a student you may need to pay Income Tax and National Insurance. You have to pay: Income Tax if you earn more than £958 a month on average - this is your Personal AllowanceNational Insurance if you earn more than £157 a week Your employer will usually deduct Income Tax and… Continue reading Have you been taxed for your vacation job? If you’re a Student, you will more than likely be able to claim the tax back.
The following Tax Events are due on 19th January 2019: PAYE, Student loan and CIS deductions are due for the month to 5th January 2019 This deadline is relevant to employers who have made PAYE deductions from their employees’ salaries and to contractors who have paid subcontractors under the CIS. Employers are required to make… Continue reading Tax Reminder – Saturday 19th January