Office of Tax Simplification Concludes On Tax Year End Date

Currently UK tax years start on 6 April annually, and run until 5 April the following year.  At first glance it seems illogical given that the dates are not even aligned with the end of a month, let alone the end of a calendar year.  For this reason, the Office of Tax Simplification (OTS) initiated […]

HMRC’s ‘Simplification’ For Self-Employed Accounts

HMRC has issued plans to alter how self-employed people manage and pay their tax costs, due to come into effect in 2023.  In essence the proposal replaces the ‘current year basis’ method for establishing taxable profits / allowable losses with a ‘tax year basis’ method instead.  This means that self-employed people will be required to […]