News & Resources
As always, MHR are here to help you navigate the challenges.
Find out how current events will affect you and your business here.
HMRC have changed the way penalties are calculated for late filing and/or payment of VAT returns. This includes nil and repayment claims.
Under the new regime late submission penalties will work on a points-based system.
For each return you submit late, you will receive a penalty point until you reach the penalty point threshold. When you reach the threshold, you’ll receive a £200 penalty.
Capital Gains Tax on Rental/Holiday Lets
If you own a property that you rent out, be it a flat or house or a holiday let, you may have to pay Capital Gains Tax (CGT) when you sell the property.
The rules relate to whether you are a UK resident; if you live abroad or have dual residency for tax purposes etc, then the rules are more complex; please contact us at firstname.lastname@example.org
State Pension – deadline for buying back Missing Years from 2006
The deadline is 31st July 2023. If you want further advice or for MHR to check your State Pension forecast etc. please contact us at email@example.com