Author Archives: Pauline

Fraudulent Emails

If you get any fraudulent emails from HMRC please report them as follows https://www.gov.uk/report-suspicious-emails-websites-phishing/report-hmrc-phishing-emails-texts-and-phone-call-scams

MTD for ITSA has been delayed until 2024

In a hotly anticipated written statement by the incoming Financial Secretary to the Treasury Lucy Frazer, it was today announced that The Government’s Making Tax Digital for Income Tax Self-Assessment (MTD for ITSA) programme will once again be delayed. The official explanation is that The Government recognises the challenges faced by many UK businesses and

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Health and social care levy: What we know

Source Accounting Web To help raise an extra £12bn a year for health and social care following the pandemic, all rates of national insurance contributions and income tax on dividends will increase by 1.25 percentage points from 6 April 2022. This increase in rates will be rebranded as the “health and social care levy” from April

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New penalty regime: points mean prizes (for HMRC)

Source – Tax Calc HM Revenue & Customs (HMRC) has confirmed that their new points-based penalty regime will come into effect from 1 April 2022 and will apply to both Making Tax Digital (MTD) for VAT as well as MTD for Income Tax Self Assessment (ITSA). Their stated aim is to make penalties simple, fair and effective but,

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MTD income tax: Big bang start in April 2023

Source – Accounting Web It appears that all self-employed taxpayers will have to start reporting under MTD for income tax (MTD ITSA) from 6 April 2023, which is an acceleration of up to 12 months for mandation into MTD for many unincorporated businesses. The announcement of the abolition of basis periods from 6 April 2023 has created

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SEISS 5 grant applications have opened

Source – Accounting Webb Self-employed taxpayers can now apply for the fifth SEISS grant, but they may need to provide two different turnover figures from their business as part of their application. The portal to apply for the fifth self-employed income support scheme (SEISS) grant opened on 29 July, but not everyone can apply at

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MTD for Income Tax Self-Assessment

The way that some self-employed taxpayers report their business profits to HMRC is set to change in April 2023 under the Making Tax Digital (MTD) for business regime, when it begins to apply to Income Tax reporting. MTD for Income Tax Self-Assessment Under MTD it is proposed that the Self-Assessment tax return will be replaced

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Off-payroll working rules further support

It has been 3 months since the off-payroll working rules (IR35) changed and we are continuing to provide support to help customers to understand and comply with the rules, in line with our published approach on supporting organisations to comply with the rules. https://www.gov.uk/government/publications/hmrc-issue-briefing-supporting-organisations-to-comply-with-changes-to-the-off-payroll-working-rules-ir35

VAT deferral — scheme is now closed

The VAT deferral new payment scheme is now closed. If customers are unable to pay their outstanding VAT debt, help is still available. Customers can go to GOV.UK and search ‘if you cannot pay your tax bill on time’ Customers may be charged a 5% penalty and interest if they did not pay in full, join the VAT new payment scheme

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VAT reverse charge on construction and building services

VAT-registered construction businesses should note that this reverse charge came in on 1 March 2021. A Revenue and Customs Brief issued in June 2020 contains more information. In January 2021, a letter was sent to every VAT-registered construction business. This followed letters previously sent out in February 2020 and September 2020, advising them to check if they’re liable

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Changes to CJRS grants

Source: HMRC The UK Government will continue to pay 70% of employees’ usual wages for the hours not worked, up to a cap of £2,187.50, to the end of July 2021. In August 2021 and September 2021, this will reduce to 60% of employees’ usual wages up to a cap of £1,875. Employers will need

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Contactless Card Transactions

Source – WorldPay From 15 October 2021, the UK payments industry will begin enabling an increase in the limits for contactless card transactions to £100 for each individual payment and to £300 cumulative spend. This follows changes to regulations by the Financial Conduct Authority earlier this year to increase the maximum limits and the expectation

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I know it wasn’t just accountants working through the pandemic so I thought I would share this article on burn out with you.

Accountants burned out amid never-ending stress by  Lianne Weaver Many within the accountancy profession have suffered pandemic burnout as the Covid stresses have taken its toll. Lianne Weaver explains how practitioners can cope with the demands of the modern workplace. As we emerge from the depths of another lockdown, you might notice that the stress

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Handy Guide – Tax Filing Deadlines

Source – croner-i In our handy guide to tax filing deadlines, we provide an at-a-glance guide to key dates from deadline for applying for a PAYE Settlement Agreement (PSA) to VAT returns and payments due for quarter ended 31 May 2021 1 July Corporation tax due for accounting periods ended 30 September 2020 (where not

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Reporting Pay as you earn (PAYE) in real time

PAYE Real Time Information (RTI) penalties – continuation of the risk-based approach to charging penalties Following HMRC’s review of the effectiveness of the risk-based approach to late filing PAYE and late payment penalties, we can confirm this approach will continue for the 2021 to 2022 tax year. This means that late filing and late payment

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SEISS 5 – are clients ready for the ‘turnover test’?

Source:  aat By Annie Makoff  Coronavirus 14 Jun 2021 The Government’s fifth Self-Employment Income Support (SEISS) grant will be open for applicants from late July to cover the period between May and September 2021. As with previous SEISS grants, claims will be limited to self-employed people or members of a partnership. They also need to have

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We can safeguard you against the taxman

At Tax Return Online Services Ltd we understand that tax is a little word with big implications. That’s why we work hard to give you the best possible advice and strategies to make tax altogether less taxing. A tax investigation could cost you money even if you’ve done nothing wrong. HMRC are using sophisticated software

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Refund Policy

For online payments taken via the Invoice Payment page, no refunds can be given as payment is only taken after my service has been provided.