Up until now H M Revenue and Customs have allowed self-assessment tax payers to make payments at post office branches. However, they have now announced that from 15 December 2017 this facility will be removed.
The government have announced that Making Tax Digital, the program they have designed to force people to submit quarterly tax returns and keep electronic records, has been postponed.
The legislation to introduce the new system of dividend taxation announced in the Summer Budget has now been included in the draft Finance Bill.
HMRC have recently announced that they have wound down their business record checks and will no longer initiate new checks using this process. However, they may still need to visit business premises as part of a compliance check.
In the Summer Budget it was announced that mortgage interest relief for buy to let landlords would start being phased out from 2017/18 onwards and restricted to basic rate only from 2020/21. Now that the Finance Bill has been published the full impact of this change is starting to emerge and for some landlords this […]
Since 6 April 2013 employers have been required to report their payroll information to H M Revenue & Customs (HMRC) throughout the year. Up until now there have been no penalties for small employers for late reporting but this is about to change.