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Are you an easy target for the taxman?

Accountancy firms are naturally keen to promote their success in saving their self-assessment clients money in their tax returns. Certainly from the point of view of an individual with complex tax affairs, or a sole trader, this is a key reason for employing a good accountant. You don’t want to pay any more tax than[...] Read more »

Limited company CIS refunded superquick!

Coastal Tax and Accountancy have managed to secure the refund of Construction Industry Scheme (CIS) tax payments incredibly quickly for a Limited Company Client. The CIS payments are a method HMRC uses to obtain tax payments from self-employed construction workers in advance of the submission of their tax return. It can often take a lot[...] Read more »

Don’t panic! Your tax return is due!

Your heart rate increases, your palms begin to sweat, the fight or flight reflex goes into full gear…a letter from HMRC is always a bit ominous.  A great many people will have experienced this reaction over the past few days as the annual reminders to complete a self assessment tax return are being distributed. According[...] Read more »

Extension of tax return date in some circumstances

The following news item has been put up on the Tolley Tax Intelligence website regarding an extension of the tax return deadline. “Filing extension for those submitting a 2012/13 Tax Return using free HMRC software Anyone who has ever used the free HMRC software to file, or help a friend or family member to file,[...] Read more »

All I want for Christmas is a Government Gateway reference number

The frosts are getting harder, there’s a chill in the air and we are all starting to turn our minds urgently to that special time of year. That’s right – it’s nearly time for those without an accountant to submit an online Self Assessment tax return! This is a critical time for those running small[...] Read more »

Congratulations to Clearbooks!

Congratulations to Clearbooks online accounting software on their recent crowdfunding success. Here at Coastal Tax we use Clearbooks as our main UK online supplier of accounting software. We also support Wave and Xero cloud accounting software. All these would be an excellent choice for business start ups for day to day control as well as[...] Read more »

Act now to avoid the Child Benefit tax charge

If your income is over £50,000 and you receive child benefit then you need to complete a tax return. Child Benefit is worth £20.30 a week for the first child and £13.40 a week for every sibling. Under new rules that came into force back in January 2013 if a member of the household earns[...] Read more »

Students working in their holidays may be overpaying tax this year!

HMRC have scrapped the P38(S) form which allowed students working only in their holidays to ask their employer not to take tax off their wages. Previously students had the whole year to spread their tax allowance over; so if the annual income exceeded the threshold only then would they be liable for tax. Now the[...] Read more »

Tax credit claimants must renew before 31 July, says HMRC

People who claim tax credits are being reminded by tax officials that an annual deadline is approaching for them to renew their claim. Claimants have until 31 July to renew, otherwise they face losing the payments, HM Revenue and Customs (HMRC) has said. Tax credit renewal packs have been sent to 5.8 million people since[...] Read more »

Late Outstanding Tax Returns?

Take advantage of HMRC’s new campaign “My Tax Return Catch Up” – see below for details. Want an accountant to act on your behalf call Coastal Tax and Accountancy 01273 420127 for professional and friendly help with your tax affairs. Update from HMRC website: HM Revenue & Customs (HMRC) are offering you a quick and[...] Read more »