Taxation

Taxation in the United Kingdom involve payments to a minimum of three different levels of government: the central government (HMRC), devolved national governments and local government.

 

Central government revenues come primarily from income tax, National Insurance contributions, VAT, corporation tax and fuel duty. Local government revenues come primarily from grants from central government funds, business rates in England and Wales, Council Tax and increasingly from fees and charges such as those from on-street parking. In the fiscal year 2014-15, total government revenue was forecast to be £648 billion, or 37.7 per cent of GDP, with net taxes and National Insurance contributions standing at £606 billion.

Self Assessment Taxation

Special Offer

 

Do you think you may have paid too much tax?

 

Amlink Limited can check you are paying the correct amount of tax and advise you accordingly. Our fees are simple - we will charge you the lower of the amount we save you in tax or £45.00 + VAT. If your tax is correct we will charge you nothing. If you are due a refund of £20.00 we will charge £20.00 including VAT. If you are owed more than £54.00 we will only charge you £54.00 including VAT. You have nothing to lose and possibly a great deal to gain.

 

For further information please contact us.

 

Note: We operate this service between 6 April and 30 September each year.


New tax rules will not mean quarterly returns for self-employed

Self-employed workers and individual business owners will not have to file quarterly tax returns, the government has confirmed. The announcement is a response to growing concerns over plans to reform the tax system, which would include an obligation for small business owners and the self-employed to submit tax returns every three months.

 

According to the statement, the quarterly updates will not mean four tax returns each year, but will require taxpayers to check data that has been generated from the department's record keeping software via individual digital tax accounts.

 

The statement added: "These reforms will not mean that businesses have to provide the equivalent of four tax returns every year. Updating HMRC through software or apps will deliver a light-touch process, much less burdensome and time-consuming than it is today."

 

The release of the statement follows a petition set up in December, which called on ministers to scrap plans for SMEs and the self-employed to complete tax returns four times each year. The petition gained more than 100,000 signatures in total, ensuring it will be debated in parliament.

 

Alongside the petition, experts have warned that the new rules could create a burden for individual taxpayers, raising the cost of filing tax returns by between 20 and 150 per cent and pushing small business owners and the self-employed "to the brink".


Start getting ready for Tax Return 2015/2016

Tax returns for the year ended 5 April 2016 must be filed by 31 January 2017, but you can start collating the necessary information now. Depending on your year end, self employed clients can send us their business records now.

 

Action Date Year End Action
     
01/02/2016 31/01/2016 Please send us your accounting records as soon as possible.
01/01/2016 31/12/2015 Please send us your accounting records as soon as possible.
01/12/2015 30/11/2015 Please send us your accounting records as soon as possible.
01/11/2015 31/10/2015 Please send us your accounting records as soon as possible.
01/10/2015 30/09/2015 Please send us your accounting records as soon as possible.
01/09/2015 31/08/2015 Please send us your accounting records as soon as possible.
01/08/2015 31/07/2015 Please send us your accounting records as soon as possible.
01/07/2015 30/06/2015 Please send us your accounting records as soon as possible.
01/06/2015 31/05/2015 Please send us your accounting records as soon as possible.
01/05/2015 30/04/2015 Please send us your accounting records as soon as possible.