HFM TAX BLOG

12.02.2019

Tax Efficient Gifts

You can give away £3,000 worth of tax efficient gifts each tax year (6 April to 5 April) without them being added to the value of your estate. This is known as your ‘annual exemption’.  You can carry any unused annual exemption forward to the next year – but only for one year. Each tax[…..]

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05.02.2019

Are you ready for the VAT filing changes?

Making Tax Digital is almost here. 1 April 2019, VAT registered traders with turnover in excess of the current VAT registration limit, £85,000, will need to file returns after 1 April 2019 linked to HMRC’s Making Tax Digital (MTD) systems. Accounts software providers have been working at some pace to change their software, so they[…..]

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02.01.2019

Paying Your Self-Assessment Tax Bill

Paying your Self-Assessment Tax bill is never enjoyable, and especially if you just don’t have the cash available. 31 January is the date by which any arrears of tax for 2017-18 need to be settled, together with a payment on account for 2018-19, if one is due. Those who have completed their tax returns for[…..]

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20.12.2018

Merry Christmas and a Happy New Year!

    Please note our offices are closed from the end of Friday 21st December 2018 and reopen on Wednesday 2nd January 2019.

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15.12.2018

Fake HMRC phishing scams

Fake HMRC phishing scams continue to trick taxpayers into parting with their well-earned cash. The HMRC website contains the following helpful information to save you being caught … Email addresses HMRC will never send notifications by email about tax rebates or refunds. Do not: visit the website open any attachments disclose any personal or payment information A[…..]

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09.12.2018

Are you eligible to claim the Marriage Allowance?

Marriage Allowance lets you transfer £1,190 of your Personal Allowance to your husband, wife or civil partner – if they earn more than you. This reduces their tax by up to £238 in the tax year. To benefit from this arrangement, you (as the lower earner) must have an income below your Personal Allowance – this is[…..]

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