Category: NEWS

A busy IT consultant

An IT consultant contacted us with 4 years undeclared rental income. As he was making a loss on the property he hadn’t told HMRC because he didn’t think he had to He had a bit of a shock when he received a letter from HMRC’s let property campaign. This gave him 30 days to contact…
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A relocated naval worker

A naval worker approached us as he had been renting his house out for the past 2 years after he was posted to Portsmouth. As he was an “accidental landlord” he didn’t realise there were tax implications, as he was on PAYE he thought it was all dealt with. He saw a Marslands social media…
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Making Tax Digital – Marslands guide to sign up!

Making Tax Digital – How to sign up! We recommend you do this before your next VAT return is due by at least one month in case you hit any problems! What you will need Details to access your HMRC VAT login (if you have one) Your UTR number for the business Access to your…
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A couple with Agent and PAYE

A couple approached us about their 12 years unpaid rental income. They were professionals who pay their tax through PAYE and have an estate agent who manages their property. They wrongly assumed that the estate agent dealt with the tax for them. HMRC issued the wife with a “Let Property Campaign” letter but her husband…
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A Young Landlord

We were contacted by a young landlord with 5 years undeclared rental income. She inherited the property and had continued to rent it to the current tenants. Being naive she didn’t realise that this income was taxable! After a conversation with a friend she suddenly realised that rental income is taxable and began to panic!…
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Undeclared Landlord

A landlord contacted us after receiving a letter from HMRC about undeclared rental income for the last 3 years. The letter worried them as it gave them 30 days to respond. They tried to deal with it themselves by registering for self assessment but found it all too complicated and were unsure what to do…
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Minimum Wage Changes

On 1st April 2019 the national minimum wage for different age ranges will change. This will mean that you may need to change the wages of your employees or may be entitled to a wage rise. These changes will be: Adults (25+) from £7.83 to £8.21 Adults (21-24) from £7.38 to £7.70 18-20 Year olds from…
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Pension Contributions Increases

From 6th April 2019, pension contribution rates have increased for any employee who is in a pension scheme. The minimum contribution rates have changed to: Employer minimum contribution from 2% to 3% Employee minimum contribution from 3% to 5% By law, any employer with a pension scheme must meet these minimum contributions. To find out…
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Making Tax Digital

If you are VAT registered with a turnover over £85,000, you will need to register for Making Tax Digital from the first VAT return starting after 1st April 2019. For most of our clients, this will be the period ending 30th June 2019 which will be due on 7th August 2019. It seems that HMRC’s…
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Let Property Campaign

Have you or your partner recently received one of these letters? If so, you only have 30 days to respond to this! If you have a joint property but only one of you has received a letter you will both still need to declare your income. Here at Marslands we can help you come forward…
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