How to prepare self-assessment tax return?

Preparing a self-assessment tax return for HMRC (Her Majesty’s Revenue and Customs) can seem daunting, but it is a necessary process for individuals who are self-employed or have income from other sources that require tax payments. Here are some steps to prepare for self-assessment: Gather all the necessary documents: Before starting the self-assessment tax return […]

Update on 64-8 Agent Authorisation Form

New 64-8 agent authorisation form From 31‌‌‌ ‌‌March 2022, new clients will need to use a new 64-8 Agent Authorisation Form to give authorisation for you to deal directly with us on their behalf. Existing clients do not need to re-authorise their current relationship. How to access the new form You’ll be able to download […]

Self Assessment Penalty Waivers

HMRC Self Assessment Penalty WaiversToday HMRC has announced that we will not charge: 1. Late filing penalties for those who file online by 28‌‌ ‌February 2022. 2. Late payment penalties for those who pay the tax due in full or set up a payment plan by 1‌‌ ‌April 2022. This will give customers and their representatives additional time if […]

HMRC introduces penalty for SEISS grant abuse

As the fourth self employment income support scheme (SEISS) ramps up for applications, HMRC has confirmed the penalty regime with harsh fines for abuse of the financial support. An overclaimed SEISS grant includes any amount of grant which the self employed were not entitled to receive or was more than the amount HMRC said the […]