Self Assessment taxpayers who do not make their 2021-22 balancing payment by 3 March 2023, face a 5% late payment penalty. A penalty may be avoided by setting up a Time to Pay agreement before the penalty deadline.
Nichola's SME Tax W-update 23 February 2023
Hello,
This time we have new Agent and Employer updates, another reminder to top up voluntary NICs, and a new remuneration optimising calculator.
Nichola's SME Tax W-update 16 February 2023
Hello,
A late filing penalty appeal decision this week illustrates a case whereby a taxpayer might possibly have avoided a late filing penalty had she asked HMRC to cancel her notice to file a Self Assessment return, rather than filing an unncessary return late and thus attracting an automatic fine.
Nichola's SME Tax W-update 9 February 2023
Hello,
This week we are continuing to focus on practical tax planning guides and checklists ahead of the year-end, while our review of decisions from the tax tribunals has yielded some cases on topical subjects. Don't miss the news headlines too.
Tax Planning & Tips: Tax Year End
Our 2023 range of Practical Tax Year-End and Accounting checklists cover individuals, in their private capacity and their business interests. They make essential reading for any business owner or adviser.
Nichola's SME Tax W-update 2 February 2023
Hello,
Everyone that I have spoken to in the last couple of weeks has said that January has seemed busier than usual. Comparing notes, some of you have reflected that this was due to the knock-on effects of Covid, with many businesses and their owners struggling to get back to normality due to the combination of supply-side shortages, recruitment issues, and owner and staff sickness. Now that Self Assessment returns are all filed, there is, however, little time for introspection: it's time to start planning for the tax year-end. What do you need to consider?
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