HMRC Archives - Whitefield Tax Limited - Isle of Wight Accountants

ACCA: Late-payment penalty calculations

by Jessica Garbett | Oct 22, 2021 | ACCA, business taxation, HMRC, personal taxatation

We are sharing this update from ACCA, our professional body, for the interest of clients and contacts. The content is (c) ACCA We explain the changes to penalties for VAT and ITSA Last month, an ACCA article highlighted the proposed new points-based penalty regime for...

ACCA: Discovery assessments – and deliberate errors

by Jessica Garbett | Jul 29, 2021 | ACCA, business taxation, HMRC, personal taxatation

We are sharing this update from ACCA, our professional body, for the interest of clients and contacts. The content is (c) ACCA Supreme Court ruling could have significant impact on future assessments The Supreme Court ruled on a ‘discovery assessment’ case (HMRC v...

ACCA: HMRC compliance checks

by Jessica Garbett | Jul 15, 2021 | ACCA, business taxation, HMRC, personal taxatation

We are sharing this update from ACCA, our professional body, for the interest of clients and contacts. The content is (c) ACCA Anybody running a business needs to be concerned about the possibility of facing a tax inspection New powers such as getting information...

Don’t miss the 1 April tax payment deadline

by Jessica Garbett | Mar 15, 2021 | ACCA, business taxation, Covid19, HMRC, personal taxatation

If you benefited from HMRC’s filing extension, make sure you avoid the 5% penalty Around 1.8 million individuals benefited from a hard-fought campaign which encouraged HMRC not to charge a late filing penalty – provided that returns were submitted online by 28...

HMRC relax 5% Late Payment Penalty for 28 February 2021

by Jessica Garbett | Feb 19, 2021 | business taxation, Covid19, HMRC, personal taxatation

Self Assessment liabilities are normally due, subject to Payments on Account made, on 31 January after the tax year, and if paid 30 days late carry a 5% surcharge. For example, for 2019-20, Self Assessment Tax and NI was due 31 January 2021 and the 5% surcharge...

HMRC Warning on Loss of Class 2 NI Credits if Deferring Tax or Using Time to Pay

by Jessica Garbett | Feb 18, 2021 | business taxation, Covid19, HMRC, personal taxatation

HMRC have published an advisory for Self Employed tax payers who are not able to pay all of their 2019/20 Self Assessment liabilities by 31 January 2021. “Payment of 2019 to 2020 Class 2 National Insurance contributions “Self Assessment clients who need to...

« Older Entries

ACCA: Late-payment penalty calculations

ACCA: Discovery assessments – and deliberate errors

ACCA: HMRC compliance checks

Don’t miss the 1 April tax payment deadline

HMRC relax 5% Late Payment Penalty for 28 February 2021

HMRC Warning on Loss of Class 2 NI Credits if Deferring Tax or Using Time to Pay

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