HMRC is expected to issue around 1.8 million Simple Assessment letters for the 2025/26 tax year and has encouraged recipients to check them carefully and take any necessary action. A Simple Assessment letter (PA302) is a tax calculation issued when HMRC...
Many people assume that if they have no tax to pay, they do not need to submit a Self Assessment tax return. However, whether you need to file a tax return depends on your circumstances and whether you meet HMRC’s Self Assessment criteria, not simply on whether tax is...
The UK government has published draft legislation that will bring crypto asset firms—including crypto exchanges, custody providers, and brokers—under the scope of UK financial regulation for the first time. Announced by the Chancellor during UK Fintech Week, this move...
HM Revenue and Customs (HMRC) have begun reminding taxpayers that time is ticking for getting self-assessment tax returns filed in time for the 31 January 2025 deadline. More than 3.5 million tax returns have already been submitted, however HMRC are anticipating more...
HM Revenue and Customs (HMRC) have issued a press release debunking some common myths about whether or not someone needs to register to complete a self-assessment tax return. The basic requirement is that anyone who needs to complete a self-assessment return for the...
Filing your self-assessment tax return correctly is not just about fulfilling a legal obligation; it’s about safeguarding your financial well-being. Here are comments from IACEW why taking extra care in this process is crucial: “A taxpayer should take reasonable care...