Templar Businesss Solutions Ltd

01/01/2022

04/03/2021

Budget2021

25/01/2021

Extension till 28th February to submit tax returns. If Tax is due then need to be paid by 31st January otherwise interest will be charged . #

22/01/2021

Templarbusinesssolutions

HMRC checklist for submitting Self Assessments

National Insurance Number
UTR number
Self assessment online login (if you don’t have you need to request access)
Self employed accounts
Dividend income
Rental income and cost (mortgage interest is only deductible and it’s capped)
Interest Income (Over 1k to be declared if you are a basic tax payer/ Over £500.00 to be declared if you are higher rate tax payer)

08/10/2020

https://www.gov.uk/government/publications/vat-notice-70022-making-tax-digital-for-vat/vat-notice-70022-making-tax-digital-for-vat -3

*Digital exclusion rules*

*Exemption from Making Tax Digital*

_*1 Who is exempt from Making Tax Digital*_

HMRC expect that most customers will be able to meet the legal obligations of Making Tax Digital, but accept that it may not be possible for a small number of customers to do so.

You will not have to follow the rules for Making Tax Digital if HMRC is satisfied that either:
• it’s not reasonably practicable for you to use digital tools to keep your business records or submit your VAT Returns because of age, disability, remoteness of location or for any other reason
• you or your business are subject to an insolvency procedure
• your business is run entirely by practising members of a religious society or order whose beliefs are incompatible with using electronic communications or keeping electronic records
You do not need to sign up for Making Tax Digital or apply for an exemption if either:
• you’re already exempt from filing VAT Returns online
• your taxable turnover is below the VAT registration threshold

_*2 Examples of businesses who are exempt*_

You’ll be exempt if it’s not practical for you to keep records digitally because:
• of your location - for example if you cannot get internet access at your home or business premises and it’s not reasonable for you to get internet access at another location
• of a disability - for example if you cannot use a computer, tablet or smartphone for the frequency amount of time it takes to keep digital records for your business

You might not be exempt if you:
• believe you should be exempt purely because of your age - HMRC will consider how your age and circumstances impact your ability to follow the rules for Making Tax Digital
• believe you should be exempt because you’re unfamiliar with the relevant software - HMRC will take into account how much you use or intend to use a computer, tablet smartphone or the internet for other purposes and whether it’s reasonable for you to learn how to use Making Tax Digital