Directory results

 
Result 1 of 8 results
  • Tips & Advice You & Your Business - HMRC makes time to pay easier
    Businesses and individuals struggling with tax bills can agree a repayment schedule with HMRC. This is often easier said than done but has recently been made simpler. What’s the full story?
    Click here
  • Tips & Advice You & Your Business - Q&A - can I spread my tax bill?
    Q&A - can I spread my tax bill?..Q. For the last few years I’ve had to pay a large personal tax bill on 31 January. This isn’t a good time of year for me financially and paying HMRC is a struggle. Is there a way to spread the cost? A. There are two ways to avoid a one-off tax bill. Later year coding. Ask HMRC to adjust your tax code for the next full year, e.g. if your self-assessment shows you owe tax for 2018/19 ask for an adjustment in your 2020/21 code. Each time you’re paid salary etc. in 2020/21...
    Click here
  • Tips & Advice You & Your Business - Getting the (tax) credit you’re due
    Getting the (tax) credit you’re due..Out of date. With the end of the 2017/18 tax year just around the corner, HMRC has issued advice to employers on how to tackle PAYE credits and overpayments currently showing on their online account. The trouble is HMRC’s PAYE records are often inaccurate. Therefore, its advice should be taken with a pinch of salt. HMRC says. At the end of February 2018 HMRC advised employers that if you “have a credit or overpayment of PAYE, you can balance your account by simply reducing...
    Click here
  • Tips & Advice You & Your Business - HMRC offers help following Carillion
    HMRC offers help following Carillion..Can’t pay. HMRC has issued a special statement aimed primarily at businesses that face difficulties paying their tax because their finances have been affected by the collapse of Carillion. If yours is one of them, HMRC recommends you get in touch with its Business Payment Support Service (BPSS) (see The next step ). Help to pay. Depending on your financial position the BPSS can: agree instalment payments suspend debt collection proceedings review penalties for missing...
    Click here
  • Tips & Advice You & Your Business - Tax refunds going astray
    Tax refunds going astray..Where’s the refund? You’ve probably noticed the section of your self-assessment tax return forms or software that asks you which bank account HMRC should send refunds to, if one is due. That seems straightforward; however, HMRC is warning people that it will ignore their instructions if they paid a tax bill using a credit or debit card within the previous nine months. Return to sender. According to HMRC, it’s unable to override the system and change where it sends refunds. They...
    Click here
  • 600+ Business Solutions - Using company money to pay your tax bill
    You have a large self-assessment tax bill to pay at the end of January. The trouble is that after the excesses of the festive season you’re a bit strapped for cash. What are the tax consequences of using company funds to pay HMRC?
    Click here
  • Tips & Advice You & Your Business - Can tax underpayments reduce your tax code?
    One of our subscribers recently received his tax code for 2016/17. It includes a deduction to collect tax for an out of date year. While HMRC seems to be using this tactic more frequently, do the rules allow it?
    Click here
  • Tips & Advice You & Your Business - Paying tax by credit card
    Paying tax by credit card.. That will do nicely. It was around a year ago that the Taxman first allowed you to pay your tax bills by credit card. Now, anything from a director’s personal tax liability to the Corporation Tax due on your company’s profits can be paid that way. But not always. That won’t do nicely. HMRC’s website says it can’t accept payments using Diners Club or American Express. But we’re now receiving reports that there’s a problem with other cards (see The next step...
    Click here
 
Result 1 of 8 results

Filter results

Resources

Dates