Category Archives: HMRC

What is a wasting asset - Alexander Accountancy Burton on Trent

What is a wasting asset?

6th April 2022 Posted by -

A wasting asset is an asset which has a predictable life of 50 years or less. HMRC’s guidance is clear that when you dispose of an asset, you are required […]

Read More

MTD for VAT – digital records required

2nd March 2022 Posted by -

The MTD for VAT regime started in April 2019 when businesses with a turnover above the VAT threshold of £85,000 became mandated to keep their records digitally and provide their […]

Read More
Image shows a blue Tax Return button

19% fail to file on time

16th February 2022 Posted by -

HMRC has confirmed that more than 10.2 million people submitted their 2020-21 Self-Assessment tax returns by the 31 January deadline. This leaves over 2.3 million taxpayers or 19% that have […]

Read More
Working for yourself Burton on Trent

Working for yourself

7th February 2022 Posted by -

Newly self-employed taxpayers should notify HMRC as soon as practicable when they begin working for themselves. However, HMRC must be officially notified by 5 October following the end of the […]

Read More
Leaving gifts to charity in your Will

Leaving gifts to charity in your Will

31st January 2022 Posted by -

The government introduced new rules to encourage charitable giving on death in 2012. The rule which has remained unchanged ever since means that a reduced rate of Inheritance Tax (IHT) […]

Read More
Making Tax Digital - Burton on Trent

Making Tax Digital

21st January 2022 Posted by -

Making Tax Digital (MTD) for VAT is to be extended to cover businesses with a turnover below the VAT threshold from April 2022. The MTD for VAT regime started in […]

Read More

Pay your tax bill by instalments

6th January 2022 Posted by -

Businesses and self-employed people in financial distress, and with outstanding tax liabilities, may be eligible to receive support with their tax

Read More

Who needs to register for Self-Assessment

7th December 2021 Posted by -

There are a number of reasons why you might need to complete a Self-Assessment return. This includes if you are self-employed, a company director,

Read More