Business year end planning
So, you filed your tax return in time and are feeling pretty smug! Nearly a whole year until you need to think about your finances! Think again. Whether you are a sole trader or a director of a limited company there are a few things that you should be thinking...
What you need to know about Income Tax Self Assessment and Making Tax Digital
On 23 September 2021, the Income Tax (Digital Requirements) Regulations 2021 (S1 2021/1076) for MTD ITSA were passed by Parliament, opening the gateway for MTD ITSA to commence on 06 April 2024. This is a one year delay from the initial plan to introduce MTD ITSA to...
Making Tax Digital for Landlords
There may be trouble ahead. You may not have heard much about Making Tax Digital for Landlords, but if you are a landlord that pays tax via self assessment then this is something you will have to deal with sooner rather than later. MTD for ITSA to give it its correct...
What do I need to do about my taxes if I’m buying and selling cryptocurrency?
Cryptocurrency is a relatively new thing compared to other income you’ll be paying taxes on as a business owner or employee. Because of its comparative newness, there isn’t a huge amount of understanding out there as to how to manage the tax impact. HMRC states that...
Why you need a Government Gateway account and how to set one up
The Government Gateway is a central place where you can register to use online Government services. The User ID and password you receive as part of the sign-up process will enable you access many of HMRC’s digital services including your personal tax account. As best...Follow Starfish Accounting
