Digitalisation of your UK Tax Return! Four years ago in 2015, the government disclosed a plan to place your UK tax return on a digital platform, in April 2019 the initiative took place. This change, when fully effective could alter the way you file your tax returns in the UK; although a recent ‘House of […]
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How to claim refunds for the current Tax Year
Making the Most of your UK Tax Return! Have you paid too much tax? Then you may be eligible for a UK Tax return! Find out how to claim refunds for the current Tax Year. There are various paths to take when claiming this benefit, depending on the year you make the claim for and […]
read moreCharging the Right VAT in the European Union
European issues may be a difficult subject at this moment in time, as no one can be exactly sure of what the future will bring within the European Union. But laws of taxation are fixed for a period and are unlikely to change in the near future, so these should be carefully adhered to by […]
read moreMaking UK Tax Digital – UK VAT Submission Changes from 1 April 2019
Her Majesty’s Revenue and Customs (HMRC) has issued formal guidelines on the changes to the UK VAT return submissions which would come into effect next year. VAT return submissions would be the first to see these changes under the Making Tax Digital (MTD) system and will be followed by other taxes. UK Tax VAT Changes […]
read moreTop 04 Tips for Filing a Self-Assessment Tax for the UK
Your self-assessment tax for the UK is a serious task which needs to be done accurately and timely; if you are a self-employed professional who between the period of April 6th 2018 and April 5th 2019 earned over £1,000 you must file that self-assessment tax form to HMRC online or using a UK tax agent […]
read moreCommon UK Tax Return Mistakes
Listed are common UK tax return mistakes and the solution to avoiding them. After all, a small mistake filling out that HMRC document can result in you incurring huge losses, so let’s get cracking and avoid those expensive mistakes. What are the Common UK Tax Return Mistakes? Individuals who put in self-assessment tax returns in […]
read moreBeat the Clock – Claim Your UK Tax Returns
Time to get the wheels turning for your 2014/2015 UK tax returns, and you need to act fast, before the year ends in April 2019. Beat the clock and get back those tax rebates, HMRC needs proof and are quite eager to return what’s owed to you; so, read on and get the paperwork started. […]
read moreTime to Get Your UK Self-Assessment Tax Return Started
In 2017/18 a pretty impressive percentage of Brits got their UK self-assessment tax return spot on! In fact, it was a record breaking figure with an impressive 93.68% getting in their tax return claims on time, out of which 700,000 were last minute, but hey, beating the deadline is all that matters. Here’s how you […]
read moreUK Legislates To Adopt New EU VAT Rules For Vouchers
Many professionals that migrate to the UK to study, work or do both are unaware of the country’s tax legislations. You may not need to be thorough with the UK tax policies, however, it will be beneficial to know the details for areas such as PAYE. In July 2018, the UK government issued a draft […]
read moreTax Contribution of UK Financial Services
An interesting factor to note in the UK tax system for the year 2017 was that the Financial Services (FS) sector had made a Total Tax Contribution (TTC) of £72.1 billion for the period under review. This amounted to 11 per cent of all government receipts, an increase from the 10 per cent of the […]
read moreEIS Provisions – Required for CGT Relief
There have been instances when the HMRC’s decisions with regard to UK tax have come under judicial review. One was the recent case, Ames v HMRC [2018] UKUT 0190 TCC which was taken up in the Upper Tribunal (UT) about HMRC’s decision not to accept a late claim for Enterprise Investment Scheme (EIS) income tax […]
read moreWhat you should know about Making Tax Digital UK (MTD)
Major changes are expected in the UK tax structure with Making Tax Digital UK (MTD), the system which intends to digitise tax collection in the country, coming into effect for businesses, commencing with VAT, from 1st April 2019. Here is What you should know about Making Tax Digital UK (MTD) MDT was announced in the April […]
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