As we approach the end of July, contractors who have to make payments on account of their 2018/19 personal tax liabilities should hopefully be in a financial position to make those payments by the due date of 31 July.
Personal Tax planning can be a complicated landscape to navigate. But with the Brexit process rumbling on and Making Tax Digital finally coming into force, there is no better time than now to put your financial plans in place for 2019/20.
As the end of the tax year approaches there are various rules, rates and allowances in place which if used effectively can ensure you are working in the most tax efficient way. This is why we have created a Year End Tax Guide which covers the following topics from personal allowances and reliefs through to penalties and upcoming charges.
When contractors are considering the value of the PayStream Tax Investigation Protection Service (TIPS) they often ask us “Are HMRC interested in the accuracy of my personal Tax Returns?” along with “what are the chances of me being selected for a compliance check?” and “what sort of things are being investigated?”.