Prior to the introduction of self-assessment tax returns, just 1% of all returns were audited; with the introduction of self-assessment, this number will now be around 10%. It is highly likely that the number will be far higher if the HMRC is given more financial aid. What this means to the taxpayer, including anyone who […]
It can be stressful knowing that you owe HMRC money and worrisome when you receive that tell-tale brown envelope through your door. However, HMRC Tax Disclosure Schemes and systems are in place to help you bring your tax affairs up to date. If you know that you owe taxes but aren’t sure of the right […]
Filling in self assessment tax returns form requires a bit of time and a lot of concentration, as making a mistake could cost you money. Luckily, we’ve formulated this step-by-step guide that will make self-assessment tax returns a complete doddle and ensure that you get it spot on every time. Start off right : If you have never […]
Internet trade and e-commerce including Amazon and eBay is a relatively new area and business owners may find the rules surrounding tax and accounting obligations to be somewhat confusing. It is, however, crucial to get up to speed on what is required in order to avoid hefty penalties from HMRC. Luckily, The Accountancy Solutions are […]
The Accountancy Solutions is a company with over a decade’s experience in helping Contractors with their accounts and taxes. We offer professional knowledge and experience across different business sectors including but not limited to IT, Medical, Engineering, and Finance. As a contractor, you may feel overwhelmed by your financial paperwork. We as accountants for contractors […]
In recent years, HMRC has been actively engaged in hunting down and plugging the “loopholes” on many tax avoidance schemes. They are particularly interested in Employee Benefit Trusts (EBTs) because there appear to be trusts, which have either not been set up properly, in accordance with regulations and guidelines, and some that are being used […]
