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What will HMRC avoid telling you?
April 5th, 2019

There are three things that you can count on that HMRC will do: Calculate the amount of tax you owe based on the information they have gathered. Chase you for payment of this tax if not recovered by PAYE. Pursue you if they believe you have under-declared your taxable income or made excessive claims to […]

Can’t pay your tax?
April 3rd, 2019

A reminder that HMRC may consider extended options for settling your outstanding tax bill. The key is to contact HMRC, explain why you can’t pay on time, and discuss how you can settle any outstanding liabilities. If you can’t pay before the deadline, call the Business Payment Support Service. Anyone can use this service, not […]

BREXIT update
April 3rd, 2019

The last few weeks have seen some of the most extraordinary political manoeuvrings in the UK parliament, and as we complete the edit of this article, the EU parliament seems to have given us a few extra weeks to complete the withdrawal agreement and get a final draft agreed by parliament. The formal statement issued […]

Spring Statement March 2019
April 3rd, 2019

The following comments were written on the 13th March 2019 immediately following Philip Hammond’s presentation of the 2019 Spring Statement to Parliament. In theory, the government uses the Spring Statement to respond to the most recent forecasts made by the Office of Budget Responsibility (OBR). However, what follows is a short summary of the points […]

Retaining business records
April 3rd, 2019

Sole traders If you are self-employed, and obliged to submit a self-assessment tax return, you must keep your tax records for at least five years after the 31 January submission deadline of the relevant tax year. For example, if you submit your 2018-19 tax return online on or before 31 January 2020, you must keep […]

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