The 12 month tax return enquiry window starts from the date you submit your tax return and NOT from the filing deadline. You can now file your tax return early and have certainty that 12 months later your tax return can be considered final and accepted. It is true to say that HMRC are very … Read more 12 month tax enquiry window
A. All self-employed people in the UK are required to be registered for Self-Assessment and then you are issued with a UTR or Unique Taxpayer Reference number. This number is usually presented as a pair of 5 digits. eg 12345 54321 If you have been asked as a self employed person for a self employed … Read more What is a self employed registration number?
This UK tax document checklist summarises the tax information you need to consider and prepare when completing a UK HM Revenue & Customs tax return. Not all these tax points may apply to you however, it is important you consider them all if there have been changes to your circumstances since your last UK HMRC … Read more Tax information and documents for your HMRC tax return
The HMRC late filing penalty is imposed for late filing of your UK self assessment tax return. To avoid the penalty there are 4 main options: File on 1 February. The deadline is strictly 31st January each year. However penalties run from the day after and therefore tax returns filed on the day after will … Read more Escaping the £100 late filing penalty
I am often asked for a PAYE or HMRC UK tax calculator. To help you I have compiled this short list of websites that provide an online PAYE tax calculator. These non HMRC tax calculator tools are usually accurate to a few pounds but depend on how regularly they are kept up to date and … Read more PAYE Tax Calculator UK links
Are you a UK expatriate who has left or are planning to leave the UK? Are you looking for expatriate tax in the UK? If you time your departure early in the tax year you may be due a refund and can claim tax back. By leaving early in the tax year, you are still … Read more UK Expatriate Taxation – leaving the UK
Inheritance tax in the UK is a tax on the assets and valuables you still own when you die. With a tax rate of 40% this means a little under half your estate will be taken by the tax man. More importantly, if your estate comprises mainly of property and assets and very little cash. … Read more How to avoid inheritance tax UK
This is a current summary of tax free investment and tax saving opportunities for UK residents. Generally, you first look at the ‘tax free’ opportunities and savings whilst ensuring the return is sufficient followed by income that is taxed the least, at this current time, it is dividends on ordinary shares which are taxed at … Read more Tax free savings UK
In this article I explore a concern that increasingly affects everyone as we get older. The question is how we ensure a standard of health and care without spending the hard earned capital we intend to leave for our family to enjoy. In the first instance we understand that holding onto to our money until … Read more Long term care insurance planning
If you believe you may have a tax problem, you already know you should take advice. This can be tricky to ask for sometimes as you may already know you have a potentially serious tax problem and would rather not admit it or share it with others. I have had clients come to me with … Read more Where can I get advice over tax problems?