Due to the Coronavirus (Covid-19) pandemic we find ourselves in an unprecedented time with a large number of employees required to work from home. If you are an employee and have been working from home due to government imposed or self-isolation requirements you should be able to claim work-related tax deductions for using your home […]
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End of Tax Year Planning – Australia
As we approach the end of the 2019-20 tax year in Australia here are some steps you might take to reduce your tax bill – or to increase your tax repayment. Please remember that comments here are general in nature – you should consider discussing what follows with your tax accountant before taking any action. […]
COVID-19: JobKeeper payment details for sole traders, partnerships, and other entities
The Australian Taxation Office has released details regarding the Federal Government’s JobKeeper payment for sole traders, trusts, partnerships, and share holders and directors of limited companies. Sole traders and entities such as partnerships, trusts or limited companies can be entitled to the JobKeeper Payment scheme. Such an entity can be eligible for the JobKeeper Payment […]
2019 UK Tax Return Filing Deadline Approaching Fast
A reminder that HM Revenue and Customs (HMRC) must receive your 2019 personal UK tax return and any money you owe in respect of the year to the 5th of April 2019 by the 31st of January 2020. If you have been issued with a Notice to File a 2019 UK tax return the return […]
2019 UK Tax Returns – the Residence Supplement, aka the form SA109
With the filing deadline for the electronic submission of 2019 UK tax returns on 31 January 2020 it is timely to review the circumstances when the Residence, Remittance Basis, etc (form SA 109) supplement to the UK tax return is to be completed. The HM Revenue & Customs website advises that you must fill in […]
UK Tax Returns – Penalties for Late Payment of Income Tax
In addition to the late filing penalties for UK tax returns discussed here, any tax that remains owing to HM Revenue under the Self Assessment system can be expected to give rise to a late payment penalty: Payment made more than 30 days late – 5% of the tax owing Payment made more than 6 […]
UK Tax Returns – Late Filing Penalties
Penalties for filing a UK tax return late can be significant, with penalties of £1,600 or more a possibility if you delay lodging your tax return for a significant period. There’s a month to go before the deadline for the electronic submission of 2018 UK tax returns. To focus your mind if your 2018 UK […]
UK Tax Returns – the Residence Supplement, SA109 form
With the 31st January 2019 filing deadline for the electronic submission of 2018 UK tax returns soon to be upon us it is timely to review the circumstances when the Residence, Remittance Basis, etc form SA 109 supplement to the UK tax return is to be completed. The HM Revenue & Customs website advises that […]
2018 UK Tax Return Filing Deadline Approaching Fast
A reminder that HM Revenue and Customs (HMRC) must receive your 2018 UK tax return and any money you owe by the 31st of January 2019. If you have been issued with a Notice to File a 2018 UK tax return the return must be completed and lodged if a late filing penalty is to […]
Australian superannuation contributions – Catch up measures now in place
Since the start of the previous tax year – ie from the 1st of July, 2017 – it has been possible for individuals to make personal contributions to an Australian superannuation fund, and to claim a tax deduction for contributions paid. The result of making a personal contribution to a super fund is to reduce […]