Category: Personal Tax
How to get your clients to submit their tax returns early
Whether they find the process too complicated or simply forget, there is a growing number of people who are not filing their tax returns. According to Government statistics, an estimated 1.1 million customers missed the self-assessment deadline in 2024. This will result in a lot of people facing a lot of penalties – a problem […]
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How are you handling home-working relief?
The shift to hybrid and remote working that was accelerated by the pandemic did, for a time, bring about financial relief for those who had to adapt to the new situation. While the pandemic is a somewhat of a distant memory now, the culture of work has been changed forever by the discovery of how […]
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HMRC’s digitisation of the tax process: How to keep up
In order to better regulate general compliance, HM Revenue and Customs (HMRC) are working to digitise many aspects of taxation. Under the umbrella scheme of Making Tax Digital for Income Tax Self-Assessment (MTD for ITSA), HMRC are looking to remove paper filing for Self-Assessment tax returns. By far, the biggest impact this has is on […]
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How do you protect your clients’ sensitive data?
Traditional data-sharing methods leave businesses vulnerable to security breaches, lost information, and non-compliance with stringent data protection regulations. That might include: However, under the UK GDPR and the Data Protection Act 2018, firms are legally required to protect personal and sensitive data. This includes implementing security measures that prevent unauthorised access, ensuring data is stored […]
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Did ITSA overwhelm your firm this year?
Now that January has finally passed, many accountancy firms are taking a collective deep breath. The mad dash to meet the ITSA (Income Tax Self Assessment) deadline is over – but at what cost? For some, late nights, stressed staff, and a flurry of last-minute client submissions defined the month. Others may have faced the […]
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