A big issue for some of us will be that the bill we have just paid with was bigger than anticipated, due to tax changes that came in at the start of the last tax year, in April 2016.
Your tax dates for the month ahead: 1 March 2018 – Due date for corporation tax due for the year ended 31 May 2017. 2 March 2018 – Self assessment tax for 2016/17 paid after this date will incur a 5% surcharge. 19 March 2018 – PAYE and NIC deductions due for month ended 5 […]
MTD – Making Tax Digital – is the government’s scheme to get everyone, both individuals and businesses – to submit their tax returns digitally and on a quarterly basis. There’ll no longer be a paper system for anything, and it’s the death knell for self-assessment.
Following Carillion’s collapse HMRC understands that some businesses will be experiencing problems paying their tax bill and help is available.