TaxPenny News

31 October 2009 Paper Tax Return submission deadline- be aware of the late submission penalty

The 31 October 2009 Paper Tax Return submission deadline is only 2 days away.

Dentists Tax Returns - Staying on the good side of the Taxman

Recently qualified Associate Dentists, now of Self Employed status, it can be daunting to manage your own personal tax affairs and ensure compliance with UK Tax Law. With the Self Assessment system of preparing Tax Returns, it is now your responsibility to prove that items declared on your Tax Return are true and [...]

About

TaxPenny News is a specialist UK Tax News Service provided by TaxPenny - The Online Tax Return Specialists. Visit our main site at www.taxpenny.co.uk to learn more about the services we provide. If you need help completing your tax return and would like a professional to take the burden off your shoulders, enter your details into our [...]

Furnished holiday lettings

The Budget 2009 contained announcements about significant changes to the rules for furnished holiday lettings (FHL) but those who are affected may have to act fast. The main announcements are set out below: Extension of the furnished holiday lettings scheme to properties in the European Economic Area (EEA) (previously it was thought that the property had [...]

Budget 2009

Alistair Darling presented his second Budget on Wednesday 22 April 2009. Having acknowledged the depth of the recession, he hinted that the Budget measures would enable the UK economy to begin to grow ‘by the end of the year’. As always the timing of the changes needs to be carefully watched – some are immediate but [...]

HMRC announce self assessment filing record

According to HMRC, a record number of taxpayers filed their 2007/08 self assessment tax returns online. 5.75 million returns were filed online by the 31 January 2009 deadline, beating last year’s by over 50%. On the busiest day, Friday 30 January, a record 390,000 returns were filed. Mark Holden, Director of HMRC’s Carter Programme, said: “HMRC’s Self Assessment [...]

New HMRC penalties

There is a significant change in the approach which HMRC will be taking in dealing with tax returns relating to periods starting on or after 1 April 2008, where the return is due to be submitted on or after 1 April 2009. HMRC have the legal right to enquire into any return and if they find [...]

‘Paper’ tax return deadline 31 October

HMRC are reminding taxpayers who wish to complete paper self assessment tax returns that the new 31 October 2008 deadline is here. They are advising that ‘tax doesn’t have to be taxing’ with an advertising campaign fronted by well known newsreader Moira Stewart. Previously, both paper and online self assessment tax returns had to be filed [...]