Tax codes can be confusing and employees will often ask their employers to explain them or explain why they are paying so much or so little tax. They may ask why they have the tax code that they have.
Giving employers peace of mind is vital when processing payroll. Peace of mind comes from knowing your chosen provider has the knowledge and expertise to deal with every aspect of your payroll from complex calculations to legislative changes.
HMRC announced on Friday that it will not charge the 5 per cent late payment penalty on self assessment tax which is not paid by 3rd March.
Self Assessment tax returns were due to be filed by 31 January 2021 but with less than a week to go to the deadline HMRC decided to extend the deadline for submission to 28 February 2021 without penalty.
When you first become VAT registered you can choose which VAT scheme to use when reporting VAT. Whilst you can change this at a later date HMRC would not want you to keep changing from one scheme to another.
