Blog – TaxBack

from the blog.

Here are the Benefits Of The CIS

All About The Construction Industry Scheme & How To Benefit From It HM Revenue & Customs (HMRC) created the Construction Industry Scheme (CIS) for contractors and subcontractors in order to minimise tax evasion within the construction industry. A number of self-employed workers in the UK continues to increase so the CIS had to be created […]

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Are We Really in a Housing Market ‘boom’?

The challenges of 2020 have shone a spotlight on the nation’s home life in a way that few could have predicted and a seemingly resilient factor in the ongoing fear and uncertainty wrought by the Covid-19 pandemic has been the value and security of a place to call home. Willingly or not, the UK population […]

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Can an Accountant Save Your Business Money?

Accountants use their skills and expertise to help grow your business by managing your financial accounts. It’s common knowledge that a lot of what they do is recording and inspection. However, can they actually save you money? A lot of businesses are ultimately trying to save more money and cut costs, so we will find […]

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Self-Employed Individuals Encouraged to Reach New Deadlines for Tax Returns

The COVID-19 crisis is having far-reaching financial effects on individuals and companies alike in the UK and around the world. The Low Income Tax Reform Group (LITRG) says that self-employed individuals who have yet to submit their 2018/19 self-assessment tax return have until 23 April 2020, else they will risk missing out on potential government […]

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COVID-19: VAT and Self-Assessment Payment Deferral

During the coronavirus pandemic, the UK Government is helping companies by deferring VAT and self-assessment payments. Temporary amendments to the VAT payments are expected to help companies handle their cash flow between 20 March 2020 and 30 June 2020. The HMRC does not charge interest or fines in respect of any amount deferred as a […]

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Betting Companies Win £1bn Tax Payout

Companies in the gambling industry were all dealt a financial blowback in April 2019 when fixed odds betting terminals (FOBTs) had their max stake reduced to £2 from £100. It was a sensible move by the Department for Digital, Culture, Media and Sport (DCMS) at the time but it’s since led to betting shop closures […]

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