income tax

This tag is associated with 14 posts

Sole Traders, Partners and Motoring Expenses

When working out the motor expenses of a sole trader and partners, two situations need to be considered: 1. Where you are treating the car as if it is owned by the business; 2. Where you are treating the car as if privately owned. Before going further, it is important to note that as a … Continue reading

Self Assessment Tax return – 2011/2012 Penalties laid bare

Your online tax return must reach HMRC by midnight 31 January. The only exceptions to this rule are as follows: 1. you receive HMRC’s self assessment notification letter after 31 October. In this case, your deadline is 3 months from the date of receipt. 2. for those who owe less than £3000 and want HMRC … Continue reading

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