Let’s face it, nobody likes paying tax but, if you have an income, it’s an inevitable part of life. Fortunately, here at RfM, we have a highly-experienced tax team who are determined to make tax less troublesome for clients.
You may have already made use of your Business Tax Account (BTA) – for example, in connection with Making Tax Digital for VAT – but not yet had the chance to explore it fully. HMRC is currently encouraging businesses to log on and discover all the ways they can use their online account.
Since April 2020, any Capital Gains Tax due on the sale of residential property must be paid within 30 days. We have seen a number of cases recently where vendors have not been made aware of the requirement by their solicitors or agents.
You can file your Self Assessment tax return as soon as the tax year ends on 5 April and at any point up to the 31 January deadline. But many taxpayers still leave it until the last minute and January is a very busy time for accountants. Whether you are super-organised or panicking about getting your figures together in time, here’s all you need to know about tax returns.