Simon Kinley ACMA, CGMA

HMRC is the most common creditor for UK businesses and it’s easy to see why. When faced with a cash flow crunch, rather than not paying key suppliers that your business relies on, the easier option might be to delay a VAT or PAYE payment to HMRC. However, HMRC has enforcement powers that go beyond that of other creditors, which makes building up PAYE and VAT arrears a risky situation to be in. If you have VAT and PAYE arrears, you need to act quickly to get things back on track. Here’s some advice from our insolvency practitioners. https://lnkd.in/eZhysTKf

Today’s TaxAssist Glossary term is ... Equity. 🌟 For more insights to tax and accounting definitions head to our TaxAssist Glossary - https://lnkd.in/enn29HHY

VAT Rates in the UK Did you know that there are different VAT rates in the UK? From standard to reduced and zero-rated, please contact us and we'll explain each rate and the types of goods and services they apply to. 📊🔍  https://lnkd.in/ekRTeF3  #VATReturns #VAT #bookkeeper #Accountant #LocalAccountant #Localbookkeeper #VATRatesUK

Self-Assessment Tax Return 23-24 We are proactive and request information, which is specific to each client at the end of each tax year so in this case an email correspondence would be sent around 6 April 2024 or a postal correspondence is sent. However, we understand that in some cases it would take additional time for the taxpayer to provide the information with examples such as 👇 - P60 (Mandatory ✅ for an employer to provide by or before 31 May each year) - P11D (Has to be processed ☑️ by early July by the employer and made available to the employee to avoid late filing penalties) - Pension saving allowance (If in excess of £60,000, the excess will be charged to 40% tax) - Partnership Accounts where a Partnership Return has to be completed ✔️ for then the figures to be reflected on the Self-Assessment (Please note a separate late penalty if filed late) Constant communication 📧 📞 ✉️ is key with each taxpayer to assess their situation and for updates to be provided If we can be of any assistance in regards to your Self-Assessment, please feel free to contact ☎️ Please note we have contacts with other specialists throughout 🇬🇧 if you prefer someone local Tel: 01212852534 Web: https://lnkd.in/dGpjEqM #accountants #taxes #bookkeeping #vat #paye #selfassessment #corporationtax #accounts #companies #pension #investments

Today’s TaxAssist Glossary term is ... Equity. 🌟 For more insights to tax and accounting definitions head to our TaxAssist Glossary - https://lnkd.in/e94Z7rjN

Full Payment Submission: what is FPS payroll? Successfully running a payroll system is an essential part of being an employer – and that includes ensuring your HMRC obligations are fulfilled.

Today’s TaxAssist Glossary term is ... Equity. 🌟 For more insights to tax and accounting definitions head to our TaxAssist Glossary - https://lnkd.in/eVGPRZp3

Stay on the good side of HMRC - speak to us to find out how we can manage your VAT compliance https://lnkd.in/ezEiiZ3

Unlock the full potential of your U.K. business with a dedicated accountant! 🚀 From tax savings to financial guidance, they're your key to success. 💼 #AccountingMagic #UKBusiness

Today’s TaxAssist Glossary term is ... Equity. 🌟 For more insights to tax and accounting definitions head to our TaxAssist Glossary - https://lnkd.in/eTQFuQSa

Today’s TaxAssist Glossary term is ... Equity. 🌟 For more insights to tax and accounting definitions head to our TaxAssist Glossary - https://lnkd.in/erVEpAWt

Today’s TaxAssist Glossary term is ... Equity. 🌟 For more insights to tax and accounting definitions head to our TaxAssist Glossary - https://lnkd.in/eeYugfMM