March 15, 2024
Speed read Any individual who is a sole trader or partner in a trading or professional partnership will be taxed under the new ‘tax year basis’, which means…
February 29, 2024
With the end of the financial year drawing close, now is the time to evaluate your tax position for the year to 5 April 2024 to ensure that…
March 7, 2024
Chancellor, Jeremy Hunt, delivered his Spring Budget on Wednesday 6 March 2024 that focused on the previsions for “long term growth”. You can download our Spring Budget Summary…
Read More...November 30, 2023
Our Taxation News – Winter 2023 edition explores a variety of matters, including announcements made in the Autumn Statement. As always, our EQ Taxperts would be more than happy to…
Read More...November 23, 2023
The Chancellor, Jeremy Hunt, delivered his Autumn Statement on Wednesday 22 November 2023. You can download our Autumn Statement Summary for our full analysis on the announcements made…
Read More...“Self Assessment tax returns must be filed and payments made by 31 January 2024 with HMRC charging interest (now at 7.75%) and penalties on any late payments.
If you are having difficulties making your tax payments and owe less than £30,000, you can set up a Time to Pay arrangement with HMRC online to avoid penalties – though interest will still be charged.”
“If you are building your own property, have you ensured that you have recovered as much of the VAT suffered on your construction costs as possible?
Discuss the position with your accountant to determine your full eligibility to recover VAT, and watch out for the time limits.”
“If you are thinking of selling your business, we would recommend seeking appropriate tax advice as early as possible to ensure there are no unexpected tax risks and liabilities.”