ICB highlights three HMRC webinars available on YouTube:
Other Income and Tax Reliefs
This webinar explains how the online tax return is used to tell HMRC about income such as bank interest and dividends plus claiming reliefs such as the Blind Person's Allowance and Marriage Allowance.
It is approximately 27 minutes long.
Reporting Income from State Pensions
This new webinar (approximately 3 minutes long) explains that Income Tax is payable on the State Pension when, combined with other income, net taxable income is more than the Personal Allowance.
If the taxpayer is not in Self-Assessment, the webinar explains how HMRC will send a Simple Assessment letter outlining how additional Income Tax may be due and how it can be paid.
Self-Employment Income on the Tax Return
This series of webinars (10 in the YouTube playlist) explain about the information to be included on the Self-Assessment tax return plus the cash basis and allowable expenses that can be claimed.
Importantly, the paylist includes a webinar about record keeping.
For Bookkeepers
ICB recommends members watch the webinars.
