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Under UK tax legislation, taxpayers are obliged to notify HMRC when they have a liability to tax no later than nine months after the end of the tax year in which they became liable. Depending on the circumstances and the tax owed, they may do this by registering for self assessment and completing a tax return by 31 January. [3]
The deadline for new applications to complete online tax returns was in October, though it is still possible to get in touch with HMRC to discuss options to pay an expected tax bill before the 31 ...
The deadline for filing a self-assessment tax return is today, leaving some short of time for getting details and paperwork together and get their tax bills paid - particularly for those doing a ...
Together with the House Tax and the Window Tax, they came to be known as the 'assessed taxes' and were intended as a progressive form of taxation on the wealthy. [5] Income tax was introduced in various forms in 1797, 1799, 1803 to 1816, and then reintroduced in 1842 as an annual tax which is formally renewed in each year's Finance Act.
His Majesty's Revenue and Customs (commonly HM Revenue and Customs, or HMRC) [4] [5] is a non-ministerial department of the UK government responsible for the collection of taxes, the payment of some forms of state support, the administration of other regulatory regimes including the national minimum wage and the issuance of national insurance numbers.
There are several other groups of people who need to file a self-assessment tax return. The HMRC says you may need to file one if you: Are self-employed and have earned gross income over £1,000
A controlled foreign company ("CFC") is a company controlled by a UK resident that is not itself UK resident and is subject to a lower rate of tax in the territory in which it is resident. Under certain circumstances, UK resident companies that control a CFC pay corporation tax on what the UK tax profits of that CFC would have been.
Online entrepreneurs need to be aware of new rules, HMRC warns Warning as HMRC self-assessment deadline fast approaching – with new rules for Vinted and eBay sellers Skip to main content