HMRC Archives - Whitefield Tax Limited - Isle of Wight Accountants

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...

Self Assessment Deadline extended for 2019-20

by Jessica Garbett | Jan 25, 2021 | business taxation, Covid19, HMRC, personal taxatation

Its been announced today, 25th January 2021, that HMRC are giving taxpayers an extra month for filing 2019/20 tax returns which were otherwise due on 31 January 2021. However, whilst you won’t be charged a penalty for submitting your return up to a month...

Self assessment – inaccuracy penalties for incorrect tax returns

by Jessica Garbett | Jan 14, 2021 | ACCA, business taxation, enquiries and tax disputes, HMRC, personal taxatation

Who takes responsibility for inaccuracy penalties? The case law involving ‘duty of care’ to from accountants to clients is extensive and detailed. We contrast two tax cases involving errors on tax returns. In both of these cases it was accepted that the returns were...

HMRC has made it easier for individuals to spread their income tax payments

by Jessica Garbett | Oct 23, 2020 | ACCA, Covid19, HMRC, personal taxatation

Self assessment customers can now apply online to spread the cost of their tax bill into monthly payments without the need to call HMRC. The online self-serve ‘Time to Pay’ service has been increased to £30,000 for self assessment customers. Once...

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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

Self Assessment Deadline extended for 2019-20

Self assessment – inaccuracy penalties for incorrect tax returns

HMRC has made it easier for individuals to spread their income tax payments

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