Read this article to find out what happens if you have to tell HMRC of any undisclosed income.

Read this article to find out what to do if you have received a 'nudge’ letter from HMRC.

Read this article to find out about HMRC’s IT strategy and AI.

Read this article to be aware of the difference between an HMRC enquiry and a discovery assessment #discovery #assessment #enquiry

What happens when your salary goes over £100k?

Chancellor Hunt billed his Budget as a Budget for growth with emphasis on fixing problems in the labour market alongside improving business investment and innovation

For the former he has addressed barriers to staying in work experienced by high earners with large pension pots, and provided some help to parents who are looking for affordable childcare.

Under the investment heading he announced incentives for investment in 12 new investment zones, and a ‘fully expensed‘ system of obtaining tax relief for plant and machinery.

The chancellor also confirmed that the energy price guarantee for domestic consumers would remain in place for another three months keeping the annual bill for an average household at £2,500 for the year.

Read this article to find out how to set up an on-going direct debit to pay your PAYE #PAYE #recurringdirectdebit

Read this article to find out about paying your tax bill in instalments #timetopay #selfassessment

Are you trading? Read this article to find out. #trading #tradingallowance #badgesoftrade

The VAT flat rate scheme is a simplified scheme that can save work. Instead of working out the VAT that you need to pay over to HMRC by deducting input VAT from output VAT, you pay a fixed percentage of your VAT-inclusive turnover. The percentage depends on the nature of your business.

If your company is no longer trading and does not have any other income, you can tell HMRC that it is dormant. This will relieve you of the need to file a company tax return or pay corporation tax.

The corporation tax self-assessment return (CTSA) must be submitted to HMRC along with the accounts and tax computations, although it is possible to file all this information online through the HMRC website.