About Us in 25 Words
Integer-Business is a UK Chartered Accountant practice providing an internet based UK Tax Service in Australia, including the preparation of UK Income Tax
Returns.
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Latest news
MTD (Making Tax Digital) for VAT Update
From April 2022, all VAT-registered businesses will be required to follow MTD rules. This is regardless of taxable turnover. Previously, only those businesses with taxable turnover greater
than GBP85,000 needed to follow the rules.
Businesses need to start keeping digital records, using MTD-compatible software..........
COVID-19 Support
HM Revenue and Customs announced on 6th January 2022 that a late filing penalty will not be charged if the UK Self Assessment Income Tax Return for
2020/2021 is submitted online by 28th February 2022. The normal due date is 31st January 2022...
Capital Gains Tax - Sale of UK Residential property (Update)
From 27 October 2021, when UK residential property is sold or otherwise disposed of, on online CGT Return may have to be made within 60 days of completion.
The seller must also calculate any Capital Gain and pay an estimated amount of Capital Gains Tax within this 60 day period. This applies to both UK and non-UK
resident individuals. Previously, only non-UK residents had to report the sale of UK residential property. Penalties apply for late..........
UK Budget 2021 Overview
The Personal Allowance is frozen at GBP12,570 from April 2021 to 2026.
The Higher rate Income Tax threshold is frozen at GBP50,270 from April 2021 to 2026.
Income Tax, National Insurance and VAT rates are.................
Capital Gains Tax – Sale of UK Residential Property
From 6 April 2020, when UK residential property is sold or otherwise disposed of, on online CGT Return may have to be made within 30 days of completion.
The seller must also calculate any Capital Gain and pay an estimated amount of Capital Gains Tax within this 30 day period. This applies to both UK and non-UK
resident individuals. Previously, only non-UK residents had to report the sale of UK residential property. Penalties apply for late..........
UK Non-resident Company Landlords
UK non-resident Companies which own UK property will need to start paying Corporation Tax on their rental profits and Chargeable Gains from 6 April 2020.
Previously, they paid Income Tax. Companies will be automatically registered for Corporation Tax if they are non-resident and if they had a UK property
business as at 5 April 2020. If they start a UK property business after 6 April 2020, they will need to register for Corporation Tax. Penalties will apply........
Making Tax Digital
HMRC has stated that the introduction of the MTD system will enable individuals and businesses to make tax accounting easier, more efficient, and
more accurate. It is envisaged that the individual or business will have a digital tax account which is updated throughout the year.
The MTD system is, at present, only in operation for VAT registered businesses with turnover greater than the VAT registration threshold of
GBP85,000. For those businesses with taxable turnover less than GBP85,000, the MTD system is, at present, voluntary, but it is envisaged that they (the businesses) will need to join the scheme for their first VAT Return starting on or after April 2022.
As regards Making Tax Digital (MTD) for Income Tax..........
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