The badges of trade
The ‘badges of trade’ tests, whilst not conclusive, are used by HMRC to help determine whether an activity is a proper economic trade / business activity or merely a money-making by-product of a hobby.
Careful
Marriage allowance entitlement
The marriage allowance applies to married couples and those in a civil partnership where a spouse or civil partner does not pay tax or pay tax above the basic rate threshold for Income Tax (i.e., one of the couples must
Time to Pay tax
If you are having trouble paying your tax on time you may be eligible to receive support from HMRC. An online payment plan for Self-Assessment tax bills can be used to set up instalment arrangements for paying tax
Closing the door on tax planning
When the end of a tax year passes, the 5 April 2024 for the current year, or the end of an accounting year if a company, any opportunity to take advantage of tax planning strategies closes.
For example, if the purchase
Countdown to Self-Assessment filing deadline
There are now less than 100 days to file your 2022-23 Self-Assessment tax return online. The deadline is 31 January 2024. The deadline for paper returns ended on 31 October 2023.
You should also be aware that payment of
Self-Assessment scam warning
Fraudsters are continuing to target taxpayers with scam emails in advance of the deadline for the submission of Self-Assessment returns for the 2022-23 tax year. In the 12 months to September 2023, HMRC received more