hmrc Archives - Professional Builder

Fergus takes the stress out of ‘tax season’ for tradespeople
|Date: 3 February, 2025

Fergus takes the stress out of ‘tax season’ for tradespeople
For tradespeople across the UK, self-assessment tax returns and the end of the tax year in April is notor ...
For tradespeople across the UK, self-assessment tax returns and the end of the tax year in April is notorious for being one of the most stressful times of the year. The scramble for receipts, invoices ...
3 February, 2025
Read more
HMRC now issuing more and more of its heaviest fines for VAT errors
|Date: 18 October, 2024

HMRC now issuing more and more of its heaviest fines for VAT errors
HMRC issues 38% more heavy fines as it cracks down on ‘deliberate’ VAT return errors VAT-related p ...
HMRC issues 38% more heavy fines as it cracks down on ‘deliberate’ VAT return errors VAT-related penalties totalled £153m in the past year HMRC is increasingly levying its heaviest penalties on ...
18 October, 2024
Read more
New online HMRC tool launched to help sole traders
|Date: 9 April, 2024

New online HMRC tool launched to help sole traders
© Kittiphan/Adobe Stock A new interactive tool has been launched to help sole traders complete their 2023 ...
© Kittiphan/Adobe Stock A new interactive tool has been launched to help sole traders complete their 2023-24 Self Assessment tax return. Sole traders who need to comply with the new requirement to rep ...
9 April, 2024
Read more
Don’t let Self Assessment catch you off-guard!
|Date: 8 January, 2024

Don’t let Self Assessment catch you off-guard!
As January's Self Assessment tax deadline approaches, self-employed contractors and business owners in th ...
As January's Self Assessment tax deadline approaches, self-employed contractors and business owners in the UK construction industry face the critical task of preparing for their tax Self Assessment. O ...
8 January, 2024
Read more
Get ready and plan now for your tax obligations
|Date: 7 December, 2023

Get ready and plan now for your tax obligations
With the Chancellor’s Autumn Statement highlighting the need to manage inflation and rising costs, mainta ...
With the Chancellor’s Autumn Statement highlighting the need to manage inflation and rising costs, maintaining compliance with tax laws is more important than ever for all construction businesses, no ...
7 December, 2023
Read more
HMRC Self Assessment registration: Why sooner is better
|Date: 21 August, 2023

HMRC Self Assessment registration: Why sooner is better
HMRC explains why now is the time for construction professionals to check whether they need to submit a S ...
HMRC explains why now is the time for construction professionals to check whether they need to submit a Self Assessment tax return. The year is flying by and time is gradually running out for you to c ...
21 August, 2023
Read more
The best time to submit your Self Assessment tax return is now
|Date: 20 May, 2023

The best time to submit your Self Assessment tax return is now
HMRC explains why now may be the best time to submit your Self Assessment tax return Did you know you’ve ...
HMRC explains why now may be the best time to submit your Self Assessment tax return Did you know you’ve been able to submit your Self Assessment tax return for the 2022/23 tax year since 6 April 2023 ...
20 May, 2023
Read more
Are you owed money from HMRC?
|Date: 3 August, 2021

Are you owed money from HMRC?
Workers in construction urged to check tax refund options The UK's 2.3 million construction workers are b ...
Workers in construction urged to check tax refund options The UK's 2.3 million construction workers are being encouraged to check that they are not owed money from HMRC as a result of overpaying on th ...
3 August, 2021
Read more
Are taxes about to get simpler for the self-employed?
|Date: 29 July, 2021

Are taxes about to get simpler for the self-employed?
Tax Preparation Specialist Welcomes HMRC Changes to Tax Reporting Rules Tax reporting rules for the UK's ...
Tax Preparation Specialist Welcomes HMRC Changes to Tax Reporting Rules Tax reporting rules for the UK's self-employed workers are due to get simpler after HM Treasury announced reforms to the taxatio ...
29 July, 2021
Read more
Industry innovation: UK construction companies increase R&D spend by £70 million
|Date: 8 July, 2021

Industry innovation: UK construction companies increase R&D spend by £70 million
Construction firms spent £1.36 billion on research and development in the first part of 2018/19 - more th ...
Construction firms spent £1.36 billion on research and development in the first part of 2018/19 - more than in the whole of 2017/18 The average construction R&D claim is now worth over £70,000 Lon ...
8 July, 2021
Read more
More help for self assessment taxpayers
|Date: 11 March, 2021

More help for self assessment taxpayers
HM Revenue & Customs (HMRC) - Feb 19, 2021 11:45 GMT Self Assessment taxpayers will not be charged a ...
HM Revenue & Customs (HMRC) - Feb 19, 2021 11:45 GMT Self Assessment taxpayers will not be charged a 5% late payment penalty if they pay their tax or set up a payment plan by 1 April, HM Revenue a ...
11 March, 2021
Read more
PAYE construction workers could be owed millions by HMRC
|Date: 28 April, 2020

PAYE construction workers could be owed millions by HMRC
Research by tax refund experts Rift Refunds has revealed that HMRC could be sitting on millions in unclai ...
Research by tax refund experts Rift Refunds has revealed that HMRC could be sitting on millions in unclaimed tax refunds owed to construction workers, who are either yet to claim or completely unaware ...
28 April, 2020
Read more
VAT changes delayed until October 2020
|Date: 9 September, 2019

VAT changes delayed until October 2020
With just weeks to go, the government has delayed the introduction of the reverse charge VAT changes unti ...
With just weeks to go, the government has delayed the introduction of the reverse charge VAT changes until October 2020. Reverse charge VAT was due to come into force for the construction industry fro ...
9 September, 2019
Read more
One in 10 ‘will not cope’ with VAT changes
|Date: 6 September, 2019

One in 10 ‘will not cope’ with VAT changes
More than one in 10 SMEs in the construction industry say their cash flow will not be able to cope with c ...
More than one in 10 SMEs in the construction industry say their cash flow will not be able to cope with changes to the way VAT is collected, according to new research carried out by Hudson Contract. ...
6 September, 2019
Read more
A guide to the construction VAT reverse charge
|Date: 16 August, 2019

A guide to the construction VAT reverse charge
Lawyers Ronan Lowney and Michelle Essen from Womble Bond Dickinson give a detailed overview to the upcomi ...
Lawyers Ronan Lowney and Michelle Essen from Womble Bond Dickinson give a detailed overview to the upcoming VAT reverse charge. You have probably heard about VAT changing for the construction industry ...
16 August, 2019
Read more
Are you prepared for the taxman?
|Date: 2 April, 2019

Are you prepared for the taxman?
Steve Wade, MD of Rhino Trade Insurance, explains how you can cover yourself against the taxman. There is ...
Steve Wade, MD of Rhino Trade Insurance, explains how you can cover yourself against the taxman. There is a growing tide of sentiment among the self-employed that the taxman is on the war path. What m ...
2 April, 2019
Read more