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Business News

HMRC Late Tax Return Penalties

April 24, 2019

If you were due to submit a self assessment tax return for 2017/2018 but have not done so (the deadline was 31st January 2019) then you will shortly receive a penalty notice from HMRC - The initial penalty amount is £100 and this is regardless of your tax position. HMRC may even owe you but you will still be fined!

HMRC Late Tax Return Penalties

5 things you need to know about Making Tax Digital

April 12, 2019

Making Tax Digital (MTD) is here to stay and ultimately aims to change the structure of most of the tax system. Change is never easy to implement but here are five useful things you need to know which will help you adapt and succeed under the new regime.

5 things you need to know about Making Tax Digital

Christmas Expenses - which costs can I put through my company?

December 20, 2018

HMRC does allow limited companies some scope to spread a little festive cheer to directors, staff and business associates. It is not often that there is generosity from HMRC so make the most of it!

Christmas Expenses - which costs can I put through my company?

The Budget 2018 - Carrington outline the key points outline

November 5, 2018

We recently saw Philip Hammond deliver his 2018 Budget – the last one before the anticipated ‘Brexit’ and one that could be obsolete should we have a ‘no-deal Brexit’. The below is a summary of Carrington Accountancy’s Budget Report 2018, which details all the main announcements and changes.

The Budget 2018 - Carrington outline the key points outline

What is Making Tax Digital (MTD)? Carrington Accountancy preparing you for the changes

October 31, 2018

Making Tax Digital or MTD is an initiative put together by HMRC to revolutionise the tax system. It is their aim that the UK has ‘one of the most digitally advanced tax administrations in the world’ and that the majority of the whole tax system, including self-assessments will become completely automated. The ‘new improved’ tax system will require the majority of businesses to maintain and submit digital records using compatible and approved software. Whilst it may well require short term changes and possibly some expense, over time it should result in your record keeping becoming more efficient. We will help you to secure these efficiency gains.

What is Making Tax Digital (MTD)? Carrington Accountancy preparing you for the changes