Category: FAQ
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Where can I find a list of MTD-compliant accounting software options?
Finding the Right MTD Software for Your Self-Employed Business If you are wondering where to find a reliable list of Making Tax Digital (MTD) compliant accounting software, the answer is simple: head straight to the official HMRC website (gov.uk). HMRC maintains an up-to-date, approved list of all the software providers that connect smoothly with their…
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What to Do When HMRC Wants Tax Money Back: A Complete Guide
If HM Revenue and Customs (HMRC) contacts you to say you owe them tax money, the very first thing you need to do is check if their calculation is correct. Do not panic, but do not ignore the letter or bill either. Compare their figures against your own records (like your payslips, P60, or tax…
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What is the HMRC warning for anyone with over 3500 savings in their bank account?
The HMRC warning is a heads-up that having £3,500 or more in savings could mean you owe tax on the interest you earn. Because interest rates have gone up, your money grows faster, meaning you could easily earn more than your tax-free limit. If this happens, your bank automatically tells HMRC, and you could be…
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How to find a qualified tax advisor for sole traders
The most reliable way to find a qualified tax advisor as a sole trader is to search the official online directories of recognised professional bodies—such as the AAT (Association of Accounting Technicians)—and verify that the advisor is registered as an official tax agent with HMRC. This guarantees you are hiring someone with proven training who…
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What is Certificate of Tax Position?
A Certificate of Tax Position is a formal document sent by HM Revenue & Customs (HMRC) asking you to make a declaration about your offshore income and assets. If you receive one, it means HMRC has received information suggesting you might have money, property, or investments overseas, and they want you to confirm whether your…
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What is a tax position document?
A tax position document is a written record that explains and justifies your specific tax situation. Think of it as a “defence file” or a formal explanation of why you (or your business) have calculated and paid a certain amount of tax to HM Revenue & Customs (HMRC). It acts as a bridge between your…
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Does Making Tax Digital affect ltd companies?
As of 2026, Making Tax Digital (MTD) for Corporation Tax has been officially cancelled by the government. This means limited companies do not have to worry about the new quarterly reporting rules that were once planned for their annual tax returns. However, limited companies must still follow MTD rules for VAT if they are registered.…
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Does Making Tax Digital affect CIS?
Making Tax Digital (MTD) definitely affects you if you are a self-employed subcontractor under the Construction Industry Scheme (CIS). While it doesn’t change how your contractor takes tax off your pay (the 20% or 30% deduction), it completely changes how you report that income to HMRC. Instead of sending one tax return at the end…
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Can your accountant call HMRC on your behalf?
Yes, your accountant can absolutely call HMRC on your behalf! However, they cannot do it automatically. Because your financial details are strictly confidential, you must first give HMRC official permission to speak to your accountant. This process is known as “authorising an agent.” Why Can’t They Just Call Right Away? HMRC has strict rules to…
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What does Making Tax Digital mean for landlords?
For UK landlords, Making Tax Digital (MTD) means the end of the traditional once-a-year paper or online Self Assessment tax return. Instead, you will be required to keep digital records of your rental income and expenses and send electronic updates to HMRC every three months. While the way you report your income is changing, the…