admin | SA Ledgers Ltd

MTD for Income Tax draws closer

by admin | Sep 12, 2024 | Income Tax

The mandatory rollout of Making Tax Digital for Income Tax (MTD for ITSA) is scheduled to begin in April 2026. The process will significantly adjust how businesses, self-employed individuals, and landlords engage with HMRC. The system will require businesses and...

Myths about self-assessment

by admin | Sep 12, 2024 | Income Tax

In a recent press release, HMRC addressed some common misconceptions about who needs to file a self-assessment return before the 31 January 2025 deadline and clarifies some of the most widespread myths. The press release seeks to dispel the following myths: Myth 1:...

Claims to reduce payments on account

by admin | Sep 12, 2024 | Income Tax

Self-assessment taxpayers are usually required to pay their Income Tax liabilities in three instalments each year. The first two payments are due on 31 January during the tax year and 31 July following the tax year. These payments on account are based on 50% each of...

Ask for advice

by admin | Sep 9, 2024 | General

Asking your accountant for advice offers a range of benefits, particularly in guiding both business and personal financial decisions. Here are some key advantages: Expert Financial Guidance Accountants are trained professionals with deep knowledge of tax laws,...

Beware overtrading

by admin | Sep 9, 2024 | Business Support

Overtrading occurs when a business expands its operations at a pace that exceeds its available working capital and financial resources. This can happen when a company takes on more business than it can sustain without sufficient cash flow to support day-to-day...