With the tax year end only a week away, are you looking for an accountant to deal with your tax returns? In a year unlike any other, if you have been selling items on Ebay or any other platform, HMRC allow a maximum of £1,000 to be earned from what…
Off-Payroll Working Tax (IR35) will apply to the Private Sector from April 2021. The off-payroll working rules can apply if a worker provides their services through their own limited company or an intermediary, which will usually be the worker’s own personal service company, but could also be a partnership, personal…
Self-assessment taxpayers who are due to pay HMRC for their 2019-20 tax return can now access ‘enhanced time to pay’. Although this is potentially available to all self-assessment taxpayers, an automated facility has been set-up on the HMRC website for anyone owing up to £30,000 on their last return. There…
With more of us working from home, there’s some good news for employees from HMRC. Tax relief can now be claimed to cover some of the costs of working from home. An employer can pay an employee £312 every tax year (equivalent to £538 gross for a higher rate taxpayer).…
With the Self-Assessment Tax Return deadline remaining at 31st January 2021, over one million people planning to delay filing their tax returns will face having to pay fines and interest for late submission and payment. Stress due to the current pandemic is causing many people who file self-assessment tax returns…
The last day for submitting and arranging payment of your 2019-20 Tax Return is Sunday 31st January 2021. With everything that has happened this year, it’s understandable that many people are struggling to meet the deadline – Folkes Worton can help, taking the pressure off you to complete your return…
The Government has stepped up investigations into tax avoidance on income from holiday homes abroad. Thousands of landlords could be caught out for not declaring income from these overseas properties. Data from a Freedom of Information request has shown that tax on income from overseas rental properties has jumped by…
There are a number of reasons why a taxpayer is required to complete a self assessment return. This includes if they are self-employed, a company director, have an annual income over £100,000
The rent-a-room scheme is a set of special rules designed to help homeowners who rent-a-room in their home. The current tax-free threshold of £7,500 per year has been in place since 6 April
The High Income Child Benefit Charge (HICBC) was introduced in January 2013 and applies a charge to taxpayers whose income exceeds £50,000 in a tax year and who are in receipt of child benefit.