HMRC Time Constraints

 

Inland Revenue requires payroll information (RTI) to be sent on or before each pay date, otherwise a fine could be imposed. Similarly, VAT and CIS returns must be submitted in a timely manner, again to avoid penalties.

 

Real-time online accounts to replace annual tax returns

 

End of year paper tax returns will be scrapped in favour of 'real-time' online accounts by 2020, as announced in the Spring 2015 budget. Individuals & small businesses will submit accounts throughout the year via computer, tablet or smartphone. Now is the time to engage the assistance of a qualified bookkeeper, who will ensure your paperwork is kept up to date throughout the year, with information submitted directly to HMRC (see 'The end of the tax return' for more details)

 

Online filing of CIS returns from April 2016

 

Every business must now the online service by law, as HMRC no longer accept paper forms.

 

 Let us worry about the paperwork, whilst you concentrate on your business

 

Good bookkeepers ensure you have up-to-date information at your fingertips, such as monthly or quarterly profit & loss accounts, cash flow, VAT, PAYE & CIS amounts due, together with debtor & creditor reports.