We have been receiving lots of google alerts and various email mailings with a common theme – HMRC is looking into the “hidden economy” or underground economy – primarily that of companies or individuals trading online and not declaring any income.  If you do trade online or use Ebay regularly to buy and sell, and are worried that HMRC’s focus will affect you, why not just give us a ring to put your mind at rest.

For those of you running limited companies, if you have a December year end, do remember that your company’s accounts must be delivered to Companies House in an acceptable format no later than 30 September 2015.  Again, if you are struggling with this, please let us know and we will see how we can help you.

Delivering accounts after the deadline will result in the company incurring a financial late filing penalty.

For those of you who are self employed and have to file a self assessment tax return, we are now only five months away from the deadline date of 31 January 2016 so don’t leave it too late to get your paperwork to your accountant.

Finally … tax credits.  For those of you who completed an annual review for your working tax credits and child tax credits, you may find that you have been overpaid and you may even receive a bill asking for the full amount back.  Don’t panic.  You can make a payment arrangement by phoning the Payment Helpline on 0345 302 1429 and they will agree a payment plan with you so that you do’t suffer undue financial hardship as a result of any reclaim of overpayments.

If we can help with any of these matters, just give us a ring on 0800 180 4252.