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Tax Tips and News

  • Claiming employment related expenses

    Newsletter issue – January 2023 There is a very limited range of expenses that employees can claim, but these can include the flat rate deduction (£6 per week) for working from home, if you are required to work from home, have no alternative place to work at, and your employer doesn‘t pay you a home-working…Read More

  • Beware of electronic sales suppression

    Newsletter issue – January 2023 Electronic sales suppression (ESS) is the use of software or hardware tools to manipulate the sales recorded by an electronic point of sale (EPOS) device, such as a shop till. Traders may think that HMRC won‘t find out about the sales hidden using ESS tools as the transactions are put…Read More

  • VAT late filing penalties

    Newsletter issue – January 2023 VAT registered businesses must now use MTD-compatible software to file VAT returns, as the old online form where you typed in your VAT figures has been closed. To encourage businesses to file on time under the MTD regime the late filing penalties are being separated from the late payment penalties…Read More

  • Late VAT payments and interest

    Newsletter issue – January 2023 The new penalty regime for late payment of VAT is fairer to those who miss the VAT payment deadline by a few days. For Vat due in relation to periods beginning on and after 1 January 2023 you will have up to 15 days to pay, or arrange a time…Read More

  • January Questions and Answers

    Newsletter issue – January 2023 Q. We hire casual labour to work alongside our permanent staff over busy periods such as Christmas. If an individual works only one shift and earns say £90, do we need to add that person to the payroll to process their pay? A:As you run a PAYE scheme to pay…Read More

  • January Key Tax Dates

    Newsletter issue – January 2023 1 -Two new VAT penalty regimes, for late payment and late filing, come into effect for VAT periods beginning on and after this date. 31 - Last day to file self-assessment tax returns for 2021/22 without penalty. The balancing payment of income tax and NIC due for 2021/22 must be…Read More

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