Author: Tony Shackleford

Student Loan Repayments

Written by Tony Shackleford on November 16, 2023.

HMRC receently announced that certain taxpayers who have student loans have overpaid their student loan deductions. The errors is in respect of approx. 16,000 taxpayers who submit self assessment...

HMRC, Student loan deductions

VAT For On Line Traders

Written by Tony Shackleford on November 7, 2023.

The current regime as regards VAT for online traders, is that where a trader in non-uk based, the online platforms (Amazon Ebay etc) are required to collect UK VAT on the sales made on their...

Amazon VAT, Vat

HMRC Enquiries

Written by Tony Shackleford on October 26, 2023.

HMRC have increased ther number of staff employed in it compliance section by 12%. This has been done in order for the number of tax qnquiries to retuurn to the pre Covid level.

HMRC Enquiries

Pension Tax Relief

Written by Tony Shackleford on July 12, 2023.

The annual cost of income tax relief on pension contributions is £67.3 billion. Of this amount 52% is received by higher rate tax payers. For basic rate taxpayers. personal pension contributions...

Pension tax relief

ESS Software

Written by Tony Shackleford on June 23, 2023.

ESS software is software which is designed to hide certain sales from accounting records and hence understate income on which tax is paid to HMRC. The software is typically used by retail outlets...

ESS software, Tax evasion

Self Assessment Income Threshold Increase

Written by Tony Shackleford on May 30, 2023.

There are a variety of reasons why a tax payer will be required to submit self-assessment tax returns. One of the reasons is if the taxpayers total income exceeds £100,000. It has recently been...

self assessment tax return, Tax Return

Self Employed Tax Return Changes

Written by Tony Shackleford on May 8, 2023.

Currently self-employed individuals are taxed based on the taxable profits earned in the accounting period ending in a tax year. Hence for an individual having annual accounts prepared at the 30...

Sel employed basis period, Self employed tax

Student Loan Repayments

Written by Tony Shackleford on April 26, 2023.

Student loan repayments are payable to The Student Loan Company via HMRC. The loan repayments are collected as a deduction through a payroll scheme for employed individuals and through the...

student loan, Student Loan Repayments

Limited Liability Protection

Written by Tony Shackleford on April 14, 2023.

The Finance Act 2020 gave HMRC authority to recover unpaid company taxes from the directors of companys, where the company itself was unable to pay the taxes due. On the face of it this seems to...

limited liability, Tax evasion, veil of incorporation

Self Assessment Return Update

Written by Tony Shackleford on March 9, 2023.

For the 2021/22 tax year, there were approximately 12 million individuals who were required to submit self-assessment tax returns. The deadline for filing the returns is the 31 January. On 31...

Self assessment deadline

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Author: Tony Shackleford