Hello,

A late filing penalty appeal decision this week illustrates a case whereby a taxpayer might possibly have avoided a late filing penalty had she asked HMRC to cancel her notice to file a Self Assessment return, rather than filing an unncessary return late and thus attracting an automatic fine.

Hello,

This week we are continuing to focus on practical tax planning guides and checklists ahead of the year-end, while our review of decisions from the tax tribunals has yielded some cases on topical subjects. Don't miss the news headlines too.

Our 2023 range of Practical Tax Year-End and Accounting checklists cover individuals, in their private capacity and their business interests. They make essential reading for any business owner or adviser.

Hello,

Everyone that I have spoken to in the last couple of weeks has said that January has seemed busier than usual. Comparing notes, some of you have reflected that this was due to the knock-on effects of Covid, with many businesses and their owners struggling to get back to normality due to the combination of supply-side shortages, recruitment issues, and owner and staff sickness. Now that Self Assessment returns are all filed, there is, however, little time for introspection: it's time to start planning for the tax year-end. What do you need to consider?

Hello,

With so much news coverage on the former Chancellor of the Exchequer Nadhim Zahawi's tax settlement, we have created a case study, based loosely on the known facts of his tax penalty, to illustrate how tax-geared penalties are calculated and what might count as a 'reasonable excuse' for making an error on a tax return. We have also included some suggestions as to how, with the benefit of hindsight, penalties could be avoided.