Matching "Tax" Tag

HMRC have set out several benefits for completing and submitting your annual tax return well before the deadline of 31 January. Here are some of the benefits …

We had a discussion in the office today about the new rates for corporation tax which take effect from April 2023. For many of our clients who have limited companies we produce monthly management reports which show a monthly provision for Corporation Tax based on their year to date net profit. This gives them an idea of how much they will need to have available to pay their Corporation Tax bill 9 months after their year end. …

Sole traders and partnerships who do not currently have a 31st March year end will see a change in their reporting period to meet HMRC new rules for reporting profits based on the tax year and not their accounting year. …

If you find it difficult to pay your tax bill due in January and July each year you can choose to make regular payments throughout the year instead. …

IPT is an abbreviation for Insurance Premium Tax and is charged by insurers in addition to your insurance policy. The rate charged can be 12% or 20% depending on the type of insurance you are buying. …