office@ajrandco.co.uk

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Self Assessment Registration Deadline for 2018/19

self assessment deadline 2018/19

The deadline to register for an online self assessment tax return for 2018/19 falls this weekend on Saturday 5 October. Last year, 700,000 taxpayers missed the self assessment deadline and faced penalties of up to £100 a day if they missed the online self assessment filing date of 31 January 2020. Who needs to register? … Read more

Pension Scams

Pension scam Pensions regulator

According to The Pensions Regulator figures show that last year those that fell victim to pension scams lost on average £82,000. How pension scams work It is important to remember that anyone can be the victim of a pension scam; therefore everybody should be aware of the warning signs. Pension savers are persuaded by scammers … Read more

VAT Reverse Charge on Construction Services

VAT reverse charge

If your business operates CIS as a contractor or sub-contractor then you need to know about the VAT reverse charge that will come into force 1st October 2019. The key aspects of the reverse charge are: It will apply to standard and reduced-rated supplies of specified building and construction services made to VAT registered businesses, … Read more

Limited Company Accounts

Year- end Accounts for Limited Companies

What are limited company accounts ? When we say year end we are referring to the 12 month period that the company uses for accounting purposes.  So basically put a limited company accounts show us the overall performance of the company in that accounting year. After the end of year a Private limited company must … Read more

Tax Credits Renewal

tax credits renewal

With just seven days to go until the Tax Credits renewal deadline on the 31st July, HM Revenue and Customs (HMRC) is urging customers to renew their tax credits – or their payments will stop. Tax credits help working families with targeted financial support and more than 1,301,072 customers have already renewed. But 760,157 still … Read more

Self-Assessment Tax Returns

Paying self assessment tax liabilities

There are a number of different reasons why an individual completes a self-assessment tax return, the main reasons are as follows: You are a company director who has income not taxed under PAYE You have income from self-employment You have income from savings and investments of £10,000 or more before tax You have annual income … Read more

Expenses- Limited Company

Expenses Limited company

If you are the Director of a Limited Company and incur expenses then they can be claimed from the company providing they have been incurred ‘wholly and exclusively’ for the purpose of trade. Some of the most frequent expenses claimed are: Business travel                                            If you incur expenses travelling to client sites in order to fulfil … Read more

Making Tax Digital

Making Tax Digital

With Making Tax Digital coming into force on the 1st April, 2019, it is now time for many of the 1.2 million businesses affected by the new law to submit their first quarterly VAT Return to HMRC using the software by the 7th August, 2019. HMRC is still urging businesses with an annual turnover above … Read more

HMRC targets Brits Living Offshore

HMRC Targets offshore Brits

With increased efforts from HMRC in targeting Brits living offshore has nearly doubled the tax yield in two years. Collecting £560m in unpaid taxes and launching over 800 investigations last year alone. UK Taxpayers are being urgerd by HMRC to ensure they have declared any foreign income or profits on offshore assets before the deadline … Read more

P11D and Payrolling Benefits

P11D & Employee Benefit for employers

If you are an employer who has provided any employee with benefits which have not been included in wages, then a P11D form should be used to report the information to HMRC. Although going forward employers may be able to choose between P11D or payrolling benefits. The deadline for P11D’s to be reported to HMRC … Read more