Missed our SME Tax Web-updates in February? Here is a summary of the month.
SME Tax News
Self Assessment taxpayers who do not make their 2021-22 balancing payment by 3 March 2023, face a 5% late payment penalty. A penalty may be avoided by setting up a Time to Pay agreement before the penalty deadline.
Hello,
This time we have new Agent and Employer updates, another reminder to top up voluntary NICs, and a new remuneration optimising calculator.
HMRC have published new advisory fuel rates for company car drivers which apply from 1 March 2023.
HMRC have issued their Agent Update for February 2023. We have summarised the key content for you with links to our detailed guidance on the topics covered.
HMRC have published their Employer Bulletin for February 2023. We have summarised the key content for you, with links to our detailed guidance on the topics covered.
HMRC have informed the ICAEW that from next month the lead time to process any new PAYE direct debits will be longer than previously advised.
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.
The Scottish government has published a consultation on proposed legislative amendments to the Land and Buildings Transactions Tax (LBTT) Additional Dwelling Supplement (ADS) rules. These changes include extending 18-month deadlines to 36 months and providing relief from ADS on divorce or separation.
The Scottish government has published a summary of responses to its call for evidence ‘Land and Buildings Transaction Tax (LBTT) - Additional Dwelling Supplement’, which sought views on the operation of the Additional Dwelling Supplement (ADS).