Fairford Tax Consulting

18/10/2024

I met the man responsible for this amazing event at the Aylesbury Town Council networking event yesterday. I suspect he’ll be unrecognisable on 31st October along with all the other fantastic volunteers who make this Halloween event happen, but please come and support this community event by Radley Windows, Doors & Conservatories Aylesbury for its 3rd Halloween spectacular 👻🎃

And if anyone loves Halloween and dressing up and is interested in volunteering for this event, this year or next, please contact Nathan at Radley

19/10/2023

Important for anyone who has had gaps in work since April 2006.

Whether you have been parenting, taking time out, been non UK resident, or not otherwise working, periods where you have not been making National Insurance Contributions can affect the State Pension you receive in the future.

Checking your contributions history and considering voluntary contributions now could have a significant impact on the State Pension you receive.

If you are unsure how this might affect you, please do get in touch. But please check before the deadline if you have gaps in your contributions history dating back several years.

The government is giving people more time to pay National Insurance contributions towards their State Pension.

19/03/2023

When your friend knows you well 😁

10/02/2023

As well as interest, any 31 January liabilities outstanding on 15 February will also be subject to late payment penalties unless you have arranged a time to pay with HMRC.

01/02/2023

Have you done your IR35 due diligence for the 2022-2023 tax year!

If you trade through our own limited company to ‘small’ private clients or overseas clients, it is your company’s responsibility to check if the contracts you are working on are inside or outside the IR35 legislation; and, if inside, to account for any PAYE and Class 1 NIC due and report it through the payroll on or before 5 April 2023, for the current tax year.

If you have not already reviewed your contracts in the current tax year for IR35, I would urge you to do it now.

Whether you review the contracts yourself, or instruct a specialist like me, taking these steps and recording your findings can be the difference between HMRC charging potential penalties in the event of HMRC forming a contrary view.

Should you require more information, please contact me: [email protected]; 07796171326; 01296 488810.

31/01/2023

Report your UK residential property sales…within 60 days!

Did you know, if you sell a UK residential property you may be required to report the sale, and pay any capital gains tax due, within 60 days of the date of sale?

If this is news to you, you are not alone!

Tens of thousands of taxpayers are reported to have failed to declare and pay any capital gains tax due on time during the 2021-22 tax year, resulting in late filing and late payment penalties being charged.

The change to the in-year property reporting rules came into effect in April 2020 (perhaps lost amongst the focus on the covid pandemic).

If you are a landlord or owner of UK residential property and thinking of selling your property(s), or have sold a property since 6 April 2022, please ensure you familiarise yourself with the rules, or seek advice.

In our experience, this is not something your estate agents or solicitors are generally aware of.

Should you require more information, please contact me: [email protected]; 07796171326; 01296 488810.

15/01/2023

PAC report says HMRC customer service unacceptable and ask for improvement
ASAP and within 3 months!

25/11/2022

As the self assessment tax return deadline gets ever closer, I think a little tax humour is in order!

26/09/2022

IR35 - reverse, reverse!

Following the Chancellor's Mini Budget on Friday, from 6 April 2023 the contractor/personal service company (PSC) will once again be responsible for determining its employment status and paying any tax and NI due.