How to avoid HMRC scams
Further to our article on How to Spot Fake HMRC letters, whilst the number of HMRC scams has somewhat declined over the last 12 months, there is still a huge amount going on. One way to help stop being scammed…
Making Tax Digital deadline for VAT
The deadline for Making Tax Digital for VAT is less than a month away. Find out what to do to be ready and avoid any penalties What is Making Tax Digital Making Tax Digital (MTD) is an initiative by HMRC…
Business Asset Disposal Relief (BADR)
Are you thinking of selling all or part of your company or have you decided to close the business entirely? If yes, you may be eligible for Business Asset Disposal Relief. What is Business Asset Disposal Relief (BADR)? When you…
What is a chartered accountant and the importance of using one
Have you had a bad experience with an accountant in the past? Did you then, to your horror, discover they were unqualified? It happens more often than people realise. The awful fact is that accountants do not have to be…
eCommerce accounting services for clients selling online
eCommerce accounting is so important if you sell online. At Maynard Johns, we successfully look after many eCommerce clients who sell on platforms such as Amazon, Shopify, eBay, Etsy and more. Many businesses have had to diversify over the past…
Do you need to submit a P11D
If you have paid taxable expenses on behalf of or provided benefits to an employee or director between 6 April 21 and 5 April 22, you may need to report these to HMRC by 6 July At the end of…
Making Tax Digital for VAT registered businesses
Making Tax Digital for VAT registered businesses for businesses above the VAT threshold of £85,000 has been compulsory since 2019. However, from November 2022, all VAT-registered businesses must comply with Making Tax Digital (MTD) and submit returns using MTD-compatible software.…
Self-assessment deadline – what happens if you don’t pay on time
The self-assessment deadline is just about upon us on 31st January and yet according to HMRC, more than 4 million are still to file their 2020 to 2021 Self Assessment tax return. Whilst HMRC has provided a one-month penalty waiver…
Input tax and farmhouses
Are you getting the input tax relief you are entitled to on your farmhouse costs? What is input tax? Input tax is the VAT that a VAT registered business incurs on its business costs. Where a business cost is incurred,…
Fake HMRC letters – How to spot them and what to do
Fake HMRC letters are getting more and more common. Did you know there were a staggering 915,762 reports of HMRC scams in 2020? It’s a frightening statistic and one we suspect will be even higher in 2021. So, what steps…