>Following extensive consultation, with more than 3,000 responses over the last eight months, HMRC has issued in-depth details on how digitising the tax system through its flagship Making Tax Digital project will help millions of businesses to get their tax bills right first time, without the need for an annual tax return. Alongside draft legislation, […]
Category Archives: Bookkeeping and Accountancy
Each year HMRC receives a number of unusual excuses from Self Assessment customers who didn’t complete their tax return on time. These include: “My tax return was on my yacht…which caught fire” “A wasp in my car caused me to have an accident and my tax return, which was inside, was destroyed” “My wife helps […]
1.Small Businesses and landlords under the VAT threshold will have an extra year to prepare for Making Tax Digital (MTD) Unincorporated businesses (businesses owned privately by one or more people) that have an annual turnover below the VAT registration threshold will have until April 2019 to prepare before MTD becomes mandatory. Under MTD, businesses will […]
Self-employed is a situation іn whісh аn individual wоrkѕ fоr himself instead оf wоrkіng fоr аn еmрlоуеr thаt pays a salary or a wаgе. A ѕеlf-еmрlоуеd individual earns hіѕ іnсоmе thrоugh соnduсtіng profitable ореrаtіоnѕ from a trade оr buѕіnеѕѕ thаt hе ореrаtеѕ directly. Althоugh the рrесіѕе dеfіnіtіоn оf self-employed vаrіеѕ among thе Burеаu оf Lаbоr […]