Year-end accountant UK Oxfordshire, Abingdon, London, Oxford, England, Swindon, Didcot, Reading, Southampton, Bristol, Slough, Birmingham
As your business grows your bookkeeping and accounting requirements also grow with it. By using your bookkeeping records we are able to prepare your annual accounts (or year-end accounts) which will form the basis of your Self-Assessment tax return.
The year-end accounts provide invaluable information about your business and are particularly useful if, for example, you wish to make a mortgage application. We can advise you on how to strengthen your record keeping procedures which in turn will assist you in managing your affairs, including the cashflow of the business.
Whether you are a sole trader, partnership or limited company, letting us prepare your year-end accounts will relieve you of what can be an extremely stressful and time consuming exercise. Our accountants offer competitive pricing with flexible appointment times and are dedicated to offering a professional, friendly service.
The Office of Tax Simplification (OTS) was established in July 2010, to provide advice to the Chancellor on simplifying the UK tax system. The OTS has recently published a new report titled ‘Making better use of third-party data: a vision for the future’. The report sets out proposals for making better use of data held by third parties, such as reporting interest on savings and investments from banks directly to HMRC.
Commenting on the report, the OTS Tax Director said:
‘The report considers the kinds of tax data individuals could find it helpful for third parties to automatically transfer to HMRC, and how this might best be embedded into the next stage of its work on the Single Customer Account.’
The report encourages the government to explore further and take forward this agenda, and to:
- ensure that data reported to HMRC by third parties is visible to taxpayers and their agents through the forthcoming Single Customer Account, and used to update tax codes and support the completion of individuals’ tax returns
- set out a clear roadmap of the stages through which changes would be consulted on and made
- consider the most effective choice of unique identifier to enable third party data to be readily and accurately matched with HMRC’s taxpayer records
- consult widely on the balance of responsibilities as between data providers, software providers, agents, taxpayers and HMRC
- ensure that HMRC have the necessary funding. More
Tax credit renewal 2021
The 31 July 2021 is the reporting deadline for families and individuals that receive tax credits. By this date they will need to tell HMRC about any changes to their circumstances or income and to renew their tax credit application. As in previous years, there is likely to be a last-minute rush and it may be difficult to contact HMRC by phone. Claims can be renewed by post, phone or online. At the beginning of July, there were still some 440,000 claims that had to be renewed.
Once the deadline has expired, anyone who has not yet renewed their tax credits should still ensure they do so as soon as possible as otherwise their payments may be stopped, and monies received since last April may have to be repaid. We would strongly advise any of our readers still to renew their tax credits to do so as a matter of urgency. More
For further information, or to arrange a free initial meeting, please contact us on 01235 250011. Contact us