Our team fully handles your UK payroll and HMRC reporting, ensuring strict compliance.Services start from just £480 per tax year (inc. VAT).Message us directly to delegate your payroll to professionals. Tel: 020 8962 3400 – Mob: 07956-223876info@capitalaccountants.co.ukWestmoreland House, Cumberland Park, London NW10 6RE
We have a robust system of reporting which report your income every quarter, avoiding penalties. We provide a professional, marketing-driven approach to make your financial reporting simple, accurate, and stress-free, helping you stay compliant and confident in your business growth.Feel free to contact us for more information. info@capitalaccountants.com Phone: +44 20 8962 3400
One of the biggest misconceptions about MTD for Income Tax is that taxes will need to be paid quarterly. In reality, MTD changes only the reporting process, not the payment dates. After the system launches, taxpayers will need to submit quarterly updates to HMRC. These are regular reports showing income and expenses throughout the year.…
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MTD for Income Tax does not apply only to high-earning self-employed individuals. Many people do not realise they may also fall under the new HMRC rules. For example, if someone works through PAYE but also rents out property or earns side income from self-employment, this income is also considered for MTD. HMRC looks at qualifying…
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When filing a Self Assessment in the UK, many taxpayers make mistakes that can lead to penalties from HMRC. The most common issue is late registration, when a person is effectively self-employed but does not register and submit a tax return on time and hence incurs late registration penalty Another frequent problem is incorrect reporting…
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HMRC is increasingly targeting businesses that operate mainly with cash — such as beauty salons, restaurants, small shops, and service-based businesses. The reason is simple: these sectors most often show discrepancies between actual and declared income. Today, HMRC uses data matching systems — it automatically compares bank transactions, expenses, and reported turnover. This allows them…
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In the UK, it sometimes happens that a payment to HMRC is sent to the wrong account or with an incorrect reference. This is not a critical issue, but it should be corrected as soon as possible. First of all, there is no need to panic — the money usually does not get lost, it…
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In the UK, businesses can work with self-employed professionals instead of hiring employees. This is a common practice in industries such as IT, marketing, construction, and other project-based sectors. This model gives companies more flexibility: there is no need to run payroll, pay employer National Insurance contributions, or follow full employment contract obligations. The contractor…
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Many UK business owners and self-employed individuals assume that if there was no income, there is no need to file taxes. However, this is not entirely true. Even if your business was inactive or had zero income, in most cases you are still required to submit reports to HMRC (such as Self Assessment or company…
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A director’s loan (money taken from a company by its director) is one of the most frequently reviewed areas by HMRC in UK companies. Mistakes here can lead to additional taxes and penalties. Common issues occur when: HMRC pays close attention to these transactions because they are often misused or poorly recorded. Proper management of…
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