E P Accountancy Services Ltd

Farmers: The way you submit your VAT returns has changed. You need to submit your next VAT return digitally using Making Tax Digital (MTD) software to avoid a penalty.
Sign up to MTD now 👇
https://www.gov.uk/charge-reclaim-record-vat/sign-up-making-tax-digital-for-vat?&utm_source=f.co_hmrcgovuk&utm_medium=social&utm_campaign=making_tax_digital&utm_content=charge_claim_record_vat

If you’re a contractor, you might be employed through an ‘umbrella company’. Some umbrella companies try to break tax rules, so you could be at risk. Learn more here 👇
https://taxavoidanceexplained.campaign.gov.uk/?&utm_source=f.co_hmrcgovuk&utm_medium=social_&utm_campaign=tax_avoidance_phase_2&utm_content=homepage

How do salary sacrifice arrangements work?

Salary sacrifice arrangements involve an employee giving up part of their salary, as this reduces their gross pay it lowers the amount of NI and tax they pay overall increasing their take home pay. This also reduces the amount of NI the employer must pay.

Is payroll a job you don't have time to do but know it needs doing?

Have you considered outsourcing? We can complete your payroll on time and provide details to both you and HMRC.

If you need guidance with book-keeping, payroll or tax returns please get in contact.

Give us a ring - 01299 2111124
Email us - [email protected]

Maternity, paternity, or shared parental leave? If your income (or that of your spouse or civil partner) has dropped below £12,570 in the past year, you could be eligible for Marriage Allowance. Check your eligibility and submit a claim at https://www.gov.uk/marriage-allowance?&utm_source=f.co_hmrcgovuk&utm_medium=social&utm_campaign=marriage_allowance&utm_content=maternity&fbclid=IwAR1JdrMzAp3zmNbZLDeLd_-BSFC_C2rBCV3o0glsP1IPw1nfjhMjRmcA44w

Marriage Allowance Marriage Allowance allows you to transfer some of your Personal Allowance to your husband, wife or civil partner: what you get and how to apply for free.

Take a look at our website to see the services we offer:

https://epaccountancy.co.uk/

Contact us today:
[email protected]
01299 211124

E P Accountancy Services - Accountancy services in Worcester With our pension auto enrolment service your employees are easily enrolled into the scheme in Worcester. Call E P Accountancy Services on 01299 828 079

HMRC has updated the guidance on changes to NI threshold due to come into effect from July!

The threshold will increase by £2,690 from current £9,880 to £12,570 from 6th July 2022 - equalising the NICs and income tax thresholds for the first time.

HMRC raises interest rates on late tax

HMRC has confirmed that it will raise interest rates on late tax bills by 0.25% - meaning any late payment interest rate will increase to 3.5% from 24th May 2022

Todays news!

Official HMRC data revealed that 65,500 people filed their self assessment on the first day of the tax year

Check out our website!

https://epaccountancy.co.uk/

E P Accountancy Services - Accountancy services in Worcester With our pension auto enrolment service your employees are easily enrolled into the scheme in Worcester. Call E P Accountancy Services on 01299 828 079

Making Tax Digital for Income Self Assessment

MTD ITSA will apply to self-employed business owners whose income and property exceed £10,000 in a tax year.

MTD ITSA will involve
-four quarterly updates to HMRC detailing income and expenses
-end of period statement
-final declaration at end of the tax year

Does this look familiar?

Are you putting off sorting all your receipts?

Do you have a tax self assessment to complete?

Let us help you!

Give us a call, 01299 211124

Do I need to file self-assessment tax return?

You may be required to file a self-assessment tax return for the 2021-22 tax year if you were:

-Self employed as a 'sole trader' and earned more than £1,000
-A partner in a business partnership

You will need to submit a tax return if you receive any other form of untaxed income such as:

-Income from dividends, investments or savings
-Foreign income
-Income from renting out property

Contact info
E: [email protected]
N: 01299 211124

E P Accountancy Services Ltd updated their website address.

E P Accountancy Services Ltd updated their phone number.