Blog – Page 3 – Sutton Coldfield Accountancy

Overseas Property Owners Registration

Written by Tony Shackleford on September 5, 2023.

Following the invasion of the Ukraine, the UK government introduced a new requirement to ensure that the overseas owners of Limited companies which owned UK properties could be identified. It has recently...

overseas property owners, Shell Companies

Beware of Incorrect Tax Advice

Written by Tony Shackleford on August 29, 2023.

Two recent examples highlight the need for tax payers to be very careful when selecting tax advisers as some advisers will be promoting tax evasion (which is illegal). The first example is in connection...

R&D tax, Tax evastion, umbrella companies

HMRC Efficiency

Written by Tony Shackleford on August 18, 2023.

Two recent pieces of information have further highlighted the problems with resources, which HMRC have: HMRC have introduced a system whereby if they have not replied to a letter for 12 months, then...

HMRC, HMRC Post

HMRC Self Assessment Line Closed

Written by Tony Shackleford on August 18, 2023.

HMRC announced last week that it is closing the self-assessment helpline for 3 months until early September. Anyone telephoning HMRC will be advised to answer their own queries by accessing HMRC online...

HMRC, HMRC helpline

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 receive...

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 and...

ESS software, Tax evasion

VAT On Blinds

Written by Tony Shackleford on June 5, 2023.

In a rather obscure ruling by a VAT tribunal, the tribunal concluded that VAT is chargeable on electric blinds when installed on new houses. This compares to no VAT being charged on regular roller blinds....

Vat, VAT on blinds

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 announced...

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 June...

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 self-assessment...

student loan, Student Loan Repayments

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