Taxpayers suffering from mental health conditions are likely to be given greater consideration should they file a late tax return, according to a leading tax authority. Read More
Month: January 2018
‘New employers’ must have a pension plan in place by 1 February 2018
Employers who first set up their business between 1 July 2017 and 30 September 2017 are being reminded that they must have automatically enrolled their employees into a workplace pension scheme before 1 February 2018. Read More
Business rates relief fund offers “false hope” to SMEs, says FSB
The Federation of Small Businesses (FSB) has criticised the Government’s £300 million business rates relief fund, amid concerns that hundreds of businesses are still waiting to benefit from the scheme. Read More
Small businesses admit to being late payers
Small and medium-sized enterprises (SMEs) are not quite the punctual payers they think they are, according to a new study, with 69 per cent of finance managers admitting to being “frequent late payers”. Read More
Taxpayers urged to look out for ‘Government Gateway’ email scam
A new type of HM Revenue & Customs (HMRC) email scam has been circulating ahead of next week’s self-assessment tax return deadline. Read More
Third of taxpayers yet to complete Self Assessment with just one week to go
Almost a third of tax returns are outstanding with just a week to go before the January Self Assessment deadline, HM Revenue & Customs (HMRC) has revealed.
In a recent update, the tax office said there are over three million customers – those who don’t pay tax through the PAYE system – yet to complete their 2016/17 return.
The deadline for sending the Self Assessment tax return to HMRC, as well as pay any tax due, is midnight 31 January 2018.
Angela MacDonald, HMRC Director General of Customer Services, said: “The 7-day countdown to 31 January has now begun. Put a stop to that niggling feeling and do your Self Assessment now. Our helpful online services offer support and advice, so you can complete your tax return quicker than you think.”
It warned that sending your tax return late will result in a £100 penalty – even if you do not owe any tax.
However, those who think they will struggle to pay any tax owed can contact the Business Payment Support Service (BPSS).
Through this service, the tax office may agree to instalment arrangements, suspend debt collection proceedings, review penalties, reduce payments on account, or agree to defer payment due to short-term cash flow difficulties.
Britain is ‘a great place to do business’, say SMEs
According to a new study, almost three quarters (72 per cent) of established small and medium-sized enterprises (SMEs) believe that the UK is a great place to set up a new business. Read More
HMRC offers support to those affected by Carillion collapse ahead of January self-assessment deadline
HM Revenue & Customs (HMRC) will offer support to those affected by the Carillion collapse ahead of the 31 January tax return deadline. Read More
HMRC sinks seafaring employers who fail to pay the National Minimum Wage
The National Minimum Wage (NMW) applies even at sea, the Government has warned, as businesses attempt to sail away from employment legislation. Read More
HMRC reveals top tax return excuses ahead of January deadline
Earlier this week, HM Revenue & Customs (HMRC) published a list of some of the weirdest and most wonderful ‘excuses’ it has recently received over late tax returns. Read More