We are currently working on preparing your (5th April) Year End Accounts and 13/14 Personal Tax Returns and in some cases, we haven’t received all the necessary information required to enable us to complete these, such as checklists and supporting information.
Please respond to the regular reminders we send requesting these. Once we receive this information, we can prepare your Accounts and Personal Tax return and email them to you for review. If you haven’t already done so, please provide us with any outstanding information as soon as possible.
Companies House & HMRC levy penalties for late submission of Personal Tax Returns and Company Accounts, which will only increase with further time lapses. Those penalties will lie with you as Director of your Limited Company if you haven’t provided us with the requested information.
Remember; it is your duty as a Company Director to ensure you have declared everything of your own income regarding Personal Tax and should you have a payment to make, you are responsible for payment of Personal Tax by the due deadline.
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How Do Pensions Work and What Tax Relief is Available
Planning for retirement is one of the most important steps any individual can take. Yet, the majority of us still underestimate how essential pension saving is, or how generous the tax incentives can be. Whether you are an employee, a business owner, or self-employed, making regular pension contributions WILL transform your financial security later in life. And understanding the UK’s pension system, the rules on contributions, and the available tax reliefs available will help you to achieve this. This article briefly explains how pensions work, the main types of schemes available, and the tax advantages that accompany them.
Self-Assessment Validation – What Checks does HMRC Perform and Why
In recent years we have noticed a higher incidence in the volume of self-assessment personal tax returns being checked. This article considers the areas that HMRC typically check, why, and common issues to try and avoid!
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