Author: Wojciech
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Who is exempt from cis scheme?
You are entirely exempt from the Construction Industry Scheme (CIS) if your work falls outside HMRC’s definition of construction. This includes architects, surveyors, carpet fitters, people who deliver building materials, companies that manufacture building supplies, and businesses that hire out scaffolding without providing the labour to set it up. Additionally, if you are a homeowner…
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Second Payment on Account HMRC
What is the second payment on account? If your tax bill last year was over £1,000, HMRC makes you pay this year’s tax in advance. They split this estimated bill into two equal halves. The “second payment on account” is simply the second half of that bill. For example: Let’s say your tax bill for…
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Bills of Exchange fraud
Can You Pay HMRC With a ‘Bill of Exchange’? The short answer is no. HMRC does not accept Bills of Exchange as a way to pay off tax bills. If a company or promoter tells you that you can use a Bill of Exchange to legally wipe out your HMRC debt, they are misleading you—it…
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How far back does HMRC go for unpaid tax?
If you’re worrying about an old tax mistake, you probably want to know exactly how far back HM Revenue & Customs (HMRC) can look into your affairs. The short answer is: it depends on why the tax wasn’t paid. Generally, HMRC can go back 4 years for innocent mistakes, 6 years for careless errors, and…
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How Much Do Accountants Charge for VAT Returns in the UK?
If you are a small business owner or self-employed worker in the UK, keeping on top of your taxes is vital. If your business turnover goes over the VAT registration threshold, you must sign up for VAT and send regular returns to HMRC. But how much does it cost to get professional help with this?…
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SA100 Form 2026: Everything You Need to Know for Your Self Assessment
The SA100 Form is the main Self Assessment tax return document used by HM Revenue and Customs (HMRC). You use it to declare the money you earned during the 2025/2026 tax year (which ran from 6 April 2025 to 5 April 2026) so HMRC can calculate how much tax you owe. In short: if your…
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Accountant Fees for Small Business: Are You Paying Too Much?
Are you paying too much? The short answer: If you run a standard UK limited company and pay more than £300 to £400 a month for basic services, or if you are a sole trader paying over £150 a month, there is a good chance you are overpaying. However, the cheapest option isn’t always the…
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How much is the fine for not declaring rental income?
If you’re a landlord in the UK and haven’t declared your rental income to HMRC, the fines can range from 0% to 100% (or even more for offshore income) of the unpaid tax, depending on why the income wasn’t declared and whether you tell HMRC yourself or they find out first. Understanding the Penalties HMRC…
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How to declare previous years rental income UK
If you need to fix your tax records for past rental income in the UK, the best and safest way is to use HM Revenue and Customs (HMRC)’s Let Property Campaign. This is a special scheme that allows you to voluntarily tell HMRC about unpaid taxes, correct your record, and pay what you owe with…
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Unexpected HMRC Savings Tax Bills? Here is What to Do Next
If you have just received an unexpected letter from HM Revenue & Customs (HMRC) asking for tax on your savings interest, do not panic and do not ignore it. Here is exactly what you need to do right now to sort it out: Why did I get this bill? For a long time, interest rates…