Tax Question of the Week – UK Personal Allowances

Tax Question of the Week – UK Personal Allowances

Q: What happens when someone leaves the UK but continues to own income-yielding assets in the UK? How is their personal allowance affected once they are no longer resident here?   A: An individual is certainly eligible for personal allowances in any year where...
HMRC increases penalties for tax errors

HMRC increases penalties for tax errors

HMRC has changed the way it calculates penalties charged to taxpayers who have made mistakes in their tax returns or failed to notify HMRC of a tax liability.   Penalty regime Where a taxpayer fails to notify HMRC of their tax liability or makes an error...
Christmas gift for late tax filers?

Christmas gift for late tax filers?

Last year 1,944 people filed their tax returns online on Christmas Day with another 6,214 on Christmas Eve and 6,200 on Boxing Day. Even allowing for the variable TV programming over Christmas this seems impressively high. We salute the bold tax preparers of Christmas...
Self-assessment 2016/17 Deadline

Self-assessment 2016/17 Deadline

The deadline for the paper Self-Assessment 2016/17 tax return submission is 31st October 2017. Most of the Self-Assessment returns you are submitting will, of course, be prepared on commercial software and submitted online etc. However, if you are having issues...
HMRC warning on paper tax returns

HMRC warning on paper tax returns

With the end of October a few short weeks away, HMRC have issued a warning to all those intending to complete paper tax returns in respect of the 2015/2016 tax year.  Essentially the warning can be broken down into three parts: The deadline for receipt of paper tax...

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