by Terry Phillips | Aug 13, 2023 | accountancy, hmrc, Penalties, tax, Tax penalty, Tax return
Accountants Chester – Tax Tip No. 33 There are various reasons why HMRC may issue a tax penalty. You may receive a penalty if you file your tax return late, your tax return is inaccurate, you are late paying tax that you owe or you fail to keep accurate records....
by Terry Phillips | Jul 24, 2023 | tax, accountancy, bookkeeping, Business Owner, director, employee, Employer, Family Business, hmrc, Income Tax, Limited Company, MTD for VAT, Self employed, Self-Assessment, Sole trader, Tax return, VAT
Accountants Chester – Tax Tip No. 31 The Employment (Allocation of Tips) Act 2023 sets out a new legal framework for the fair allocation of tips. A new Code of Practice is to be introduced and employers will have a legal obligation to adhere to the Code. It will...
by Terry Phillips | Jul 16, 2023 | accountancy, Accountants, Business Owner, hmrc, Limited Company, Rates relief, Self employed, Small business rates, Sole trader, tax
Accountants Chester – Tax Tip No. 30 Business rates are charged on non-domestic properties like shops, offices, warehouses, factories and holiday rentals or guest houses. However, if your property’s rateable value is less than £15,000 and your business only uses...
by Terry Phillips | Jul 7, 2023 | Company Expenses, employee, Employer, Employment, expense claims, expenses, hmrc, Income Tax, tax, tax rebate
Accountants Chester – Tax Tip No. 28 Employees often need to incur expenses when undertaking their jobs. The nature of the expense may vary depending on the job, but typical expenses include travel and subsistence expenses and fees and subscriptions. It will...
