Accounting blogs

Please note that all late payments to HMRC now incur interest at 7% or base rate plus 2.5%, which quickly adds up and this is on top of penalties.

Would you like real time up to date Profit and Loss figures for your business? From as little as £100 per month PMC Pomfrey can remotely update your book-keeping leaving you to run your business.

You have until 31st January to file your personal tax return and pay your tax. You can pay at www.gov.uk/pay-self-assessment-tax-bill

From 1st January 2023 the way HMRC issue VAT penalties changes. The biggest change is you will be fined for late filing a fixed fee of £200 whether you owe VAT or are due a rebate.

The superdection tax allowance on qualifying plant and machinery ends on 31st March next year.

The Autumn Budget summary and latest news from PMC Partnership, incorporating Pomfreys Accountants – 18th November 2022.

Remember if you are earning over £100,000 it is your responsibility to register with HMRC and complete a self assessment tax return. This is because your personal tax allowance reduces by £1 for every £2 you earn over £100,000 until your allowance is fully used, thus leaving you with a tax liability.

Former Chancellor’s Kwasi Kwarteng Mini budget on 23rd September has seen many of its outlines drastically reversed, which was followed by his dismissal.

The latest news from PMC Partnership incorporating Pomfreys Accountants – 7th October 2022.