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Home About Meet the Team Services Individual Self Assessment Annual and Rental Accounts Small Medium Business Ltd Companies Corporation Tax Corporate Finance Bookkeeping & Management Accounts Insolvency Taxation VAT PAYE Construction Industry Scheme Capital Gains Financial Services Pensions Mortgages Wealth Management Asset Finance Testimonials Blog Contact Newsletter JarrowJarrowSouth Shields 0191 420 0550 172-174 Albert Road, Jarrow, NE32 5JA info@kpsimpson.co.uk 0191 455 0518 171 Sunderland Road, South Shields, NE34 6AD info@kpsimpson.co.uk Home About Meet the Team Services Individual Self Assessment Annual and Rental Accounts Small Medium Business Ltd Companies Corporation Tax Corporate Finance Bookkeeping & Management Accounts Insolvency Taxation VAT PAYE Construction Industry Scheme Capital Gains Financial Services Pensions Mortgages Wealth Management Asset Finance Testimonials Blog Contact Newsletter 06NovTell HMRC about unpaid tax on cryptoassetsNovember 6, 2025General0 Where cryptoasset tokens (also known as cryptocurrency) are held personally, this investment is usually undertaken in the hope of making a capital appreciation in its value or to make particular purchases. HMRC is clear that these holdings will usually be subject to Capital Gains Tax (CGT) if there is a gain when disposing of these assets by: selling tokens exchanging tokens for a different type of cryptoasset using tokens to pay for goods or services giving away tokens to another person (unless it is a gift to your spouse, civil partner or charity) If you have unpaid tax on cryptoasset gains, there is a specific voluntary disclosure service that can be used. This service can be used for exchange tokens (such as bitcoin), NFTs (non-fungible tokens) and utility tokens. Before making a voluntary disclosure, you will need to: collect information about the cryptoassets you owe tax on; work out how many years you need to declare unpaid tax for; work out the CGT and Income Tax you owe; and work out any interest you owe. work out any penalties you will be liable for The number of years you must disclose unpaid tax depends on why it was not paid correctly. If you took reasonable care but still underpaid, you must disclose and pay for the last four years. If you did not take care, you must disclose for six years. However, if you deliberately failed to pay or knowingly gave incorrect information, you must disclose and pay for up to 20 years of unpaid tax. Your disclosure must include all unpaid tax, interest and penalties. You can use HMRC’s calculators to work out the correct interest and penalty amounts. Once you submit your disclosure, HMRC will usually issue a payment reference number within 15 working days, and you must pay the full amount within 30 days of submitting a disclosure. After reviewing your disclosure, HMRC will either send you a letter confirming acceptance of your offer or contact you if it cannot be accepted. If HMRC finds that you knowingly provided false or incorrect information, they may reopen your tax affairs and can impose higher penalties. 0SharesPrevNextRelated PostsNovember 13, 2025Enforcement of the minimum wageEmployment & Payroll0 November 10, 2025How many businesses are there in the UK?Business Support0 November 10, 2025Directors liability for company debtsBusiness Support0 Recent BlogsEnforcement of the minimum wageNovember 13, 2025How many businesses are there in the UK?November 10, 2025Directors liability for company debtsNovember 10, 2025Important InformationPrivacy Policy Testimonials Data Policy Services Newsletter Blog Terms & Conditions Recent Posts Enforcement of the minimum wage How many businesses are there in the UK? Directors liability for company debts Tax Diary December 2025/January 2026 Jarrow 0191 420 0550 info@kpsimpson.co.uk 172-174 Albert Road Jarrow NE32 5JA South Shields 0191 455 0518 info@kpsimpson.co.uk 171 Sunderland Road, South Shields, NE34 6AD Copyright 2009 - document.write(new Date().getFullYear()); © KP Simpson. All Rights Reserved - Web Design Northeast by Paper Voice This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish.Accept Read MorePrivacy & Cookies Policy Close Privacy Overview This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. 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Home About Meet the Team Services Individual Self Assessment Annual and Rental Accounts Small Medium Business Ltd Companies Corporation Tax Corporate Finance Bookkeeping & Management Accounts Insolvency Taxation VAT PAYE Construction Industry Scheme Capital Gains Financial Services Pensions Mortgages Wealth Management Asset Finance Testimonials Blog Contact Newsletter JarrowJarrowSouth Shields 0191 420 0550 172-174 Albert Road, Jarrow, NE32 5JA info@kpsimpson.co.uk 0191 455 0518 171 Sunderland Road, South Shields, NE34 6AD info@kpsimpson.co.uk Home About Meet the Team Services Individual Self Assessment Annual and Rental Accounts Small Medium Business Ltd Companies Corporation Tax Corporate Finance Bookkeeping & Management Accounts Insolvency Taxation VAT PAYE Construction Industry Scheme Capital Gains Financial Services Pensions Mortgages Wealth Management Asset Finance Testimonials Blog Contact Newsletter Contact UsJarrow172-174 Albert RoadJarrow,NE32 5JA 0191 420 0550info@kpsimpson.co.uk .gm-style-iw { line-height: inherit !important;}jQuery(document).ready(function($) {var map1 = $("#map1").maps({"map_options":{"center_lat":"54.97859314179313","center_lng":"-1.4960782806732595","zoom":17,"map_type_id":"ROADMAP","fit_bounds":false,"draggable":true,"scroll_wheel":true,"display_45_imagery":"","marker_default_icon":"","infowindow_setting":"","infowindow_bounce_animation":null,"infowindow_drop_animation":false,"close_infowindow_on_map_click":false,"infowindow_skin":"","default_infowindow_open":false,"infowindow_open_event":"click","full_screen_control":true,"search_control":true,"zoom_control":true,"map_type_control":true,"street_view_control":true,"full_screen_control_position":null,"search_control_position":"TOP_LEFT","zoom_control_position":"TOP_LEFT","map_type_control_position":"TOP_RIGHT","map_type_control_style":"HORIZONTAL_BAR","street_view_control_position":"TOP_LEFT","map_control":true,"map_control_settings":false,"map_zoom_after_search":6,"width":"","height":"380"},"traffic_layer":{"display_layer":true},"places":[{"id":"1","title":"KP Simpson","address":"172-174 Albert Road, Jarrow, Tyne and Wear NE32 5JA, United Kingdom","source":"manual","content":"KP Simpson","location":{"icon":"https:\/\/www.kpsimpson.co.uk\/wp-content\/plugins\/wp-google-map-plugin\/assets\/images\/default_marker.png","lat":"54.97859314179313","lng":"-1.4960782806732595","city":"Jarrow","state":"England","country":"United Kingdom","onclick_action":"marker","redirect_custom_link":"","marker_image":"","open_new_tab":"yes","postal_code":"NE32 5HU","draggable":false,"infowindow_default_open":false,"animation":"BOUNCE","infowindow_disable":true,"zoom":5,"extra_fields":""},"categories":[],"custom_filters":""}],"styles":"","listing":"","marker_cluster":"","map_property":{"map_id":"1"}}).data("wpgmp_maps");});South Shields171 Sunderland Road,South Shields,NE34 6AD 0191 455 0518info@kpsimpson.co.uk Leave us your info and we will get back to you. Important InformationPrivacy Policy Testimonials Data Policy Services Newsletter Blog Terms & Conditions Recent Posts Enforcement of the minimum wage How many businesses are there in the UK? Directors liability for company debts Tax Diary December 2025/January 2026 Jarrow 0191 420 0550 info@kpsimpson.co.uk 172-174 Albert Road Jarrow NE32 5JA South Shields 0191 455 0518 info@kpsimpson.co.uk 171 Sunderland Road, South Shields, NE34 6AD Copyright 2009 - document.write(new Date().getFullYear()); © KP Simpson. All Rights Reserved - Web Design Northeast by Paper Voice This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish.Accept Read MorePrivacy & Cookies Policy Close Privacy Overview This website uses cookies to improve your experience while you navigate through the website. 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Home About Meet the Team Services Individual Self Assessment Annual and Rental Accounts Small Medium Business Ltd Companies Corporation Tax Corporate Finance Bookkeeping & Management Accounts Insolvency Taxation VAT PAYE Construction Industry Scheme Capital Gains Financial Services Pensions Mortgages Wealth Management Asset Finance Testimonials Blog Contact Newsletter JarrowJarrowSouth Shields 0191 420 0550 172-174 Albert Road, Jarrow, NE32 5JA info@kpsimpson.co.uk 0191 455 0518 171 Sunderland Road, South Shields, NE34 6AD info@kpsimpson.co.uk Home About Meet the Team Services Individual Self Assessment Annual and Rental Accounts Small Medium Business Ltd Companies Corporation Tax Corporate Finance Bookkeeping & Management Accounts Insolvency Taxation VAT PAYE Construction Industry Scheme Capital Gains Financial Services Pensions Mortgages Wealth Management Asset Finance Testimonials Blog Contact Newsletter MeetThe TeamLet us tell you whyWe are an award winning accountancy firm in the NortheastAndrew PottsAlex HudsonDawn StottPhilosophyOur Top MissionsOur team is made up of a diverse range of industry experts who are passionate about helping businesses and individuals succeed. The KP Simpson family are an exceptional team of people always on hand to help out with a client query and, unlike many other accountants, we don’t charge you for every little thing, we understand that sometimes a friendly face and a cheerful chat is all that’s required to put your mind at rest. Our StoryA Little About Andrew Business owner and head honcho Andrew Potts has been with the company since its inception almost a decade ago. Born in South Shields, Andrew is the proud, smiling, friendly face at the head of KP Simpson. But don’t go thinking it goes to his head – Andrew is somewhat of a dream boss, happily mucking in as part of the team, the thing which really sets KP Simpson apart from the competition. No grey suits here! Always keen to ensure that no client is ever treated badly, and that everyone receives a tailored service no matter what their tax or accountancy needs, Andy strives to manage accounts as well as he wields a cricket bat – something he’s pretty good at; Andrew’s a keen cricketer and regularly turns out for Whiteleas and Harton Welfare CC and is keen to support local teams / talents by sponsoring them in various ways. Rather have a chat instead?Click here to send us an email or give us a callTalk to usImportant InformationPrivacy Policy Testimonials Data Policy Services Newsletter Blog Terms & Conditions Recent Posts Enforcement of the minimum wage How many businesses are there in the UK? Directors liability for company debts Tax Diary December 2025/January 2026 Jarrow 0191 420 0550 info@kpsimpson.co.uk 172-174 Albert Road Jarrow NE32 5JA South Shields 0191 455 0518 info@kpsimpson.co.uk 171 Sunderland Road, South Shields, NE34 6AD Copyright 2009 - document.write(new Date().getFullYear()); © KP Simpson. All Rights Reserved - Web Design Northeast by Paper Voice This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish.Accept Read MorePrivacy & Cookies Policy Close Privacy Overview This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. 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Home About Meet the Team Services Individual Self Assessment Annual and Rental Accounts Small Medium Business Ltd Companies Corporation Tax Corporate Finance Bookkeeping & Management Accounts Insolvency Taxation VAT PAYE Construction Industry Scheme Capital Gains Financial Services Pensions Mortgages Wealth Management Asset Finance Testimonials Blog Contact Newsletter JarrowJarrowSouth Shields 0191 420 0550 172-174 Albert Road, Jarrow, NE32 5JA info@kpsimpson.co.uk 0191 455 0518 171 Sunderland Road, South Shields, NE34 6AD info@kpsimpson.co.uk Home About Meet the Team Services Individual Self Assessment Annual and Rental Accounts Small Medium Business Ltd Companies Corporation Tax Corporate Finance Bookkeeping & Management Accounts Insolvency Taxation VAT PAYE Construction Industry Scheme Capital Gains Financial Services Pensions Mortgages Wealth Management Asset Finance Testimonials Blog Contact Newsletter About UsStory About UsOur Great StoryOur aim is to offer each and every client the same level of skill, knowledge and advice, as well as build on a strong customer service ethic to maintain standards and improve relationships with ALL our client, no matter how big or small. Our goal is to make you successful, which in turn makes us successful There’s only 2 things certain in life, and that is taxes and death, so why pay more than you have to. Our ServicesAt KP Simpson we care about our clients, we provide a full range of accountancy services. Learn More What Our Clients SayNew to KP Simpson? Why not take a look at what our current clients say about us. Learn More Get in TouchWe’re based in the heart of Jarrow, we’re easy to find and have ample parking. Learn More Where it all beganThe history of KP SimpsonKP Simpson – We are a North East based accountancy business covering the North East in general, however a small selection of clients are from other areas of the country. Our company is now over 10 years old and we pride ourselves on our ability to offer a hands-on service, whilst keeping the costs to a minimum by our hand-crafted a team of specialists, each of whom are as dedicated to the job as I am, Andrew Potts, the owner. Born in South Shields, I am the proud, smiling friendly face at the top of KP Simpson tree. There are no stuffed shirts here at KP Simpson, we simply do a great job and take pride in our work. Our team of specialists cover all areas of accounting and tax advice for businesses and individuals including taxi drivers, personal trainers, medical professionals and many more clients across the North East of England. Our team is always keen to ensure that every client is treated with the utmost respect and professionalism and that everyone receives a tailored service no matter what their tax or accountancy requirements may be. Our state-of-the-art secure online systems allows our clients to upload, download and view their personal tax documents at their convenience. We also offer services in payroll and bookkeeping, taxation, business accounts and niche accounting. So, whether you are based in Newcastle, London or Edinburgh our team can instantly access your files and work on your account remotely. You know what they say: There’s only two things certain in life: taxes and death. So why pay more than you have to? Our Dedicated TeamWe're only as good as the team behind usMeet the TeamImportant InformationPrivacy Policy Testimonials Data Policy Services Newsletter Blog Terms & Conditions Recent Posts Enforcement of the minimum wage How many businesses are there in the UK? Directors liability for company debts Tax Diary December 2025/January 2026 Jarrow 0191 420 0550 info@kpsimpson.co.uk 172-174 Albert Road Jarrow NE32 5JA South Shields 0191 455 0518 info@kpsimpson.co.uk 171 Sunderland Road, South Shields, NE34 6AD Copyright 2009 - document.write(new Date().getFullYear()); © KP Simpson. All Rights Reserved - Web Design Northeast by Paper Voice This website uses cookies to improve your experience. 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Home About Meet the Team Services Individual Self Assessment Annual and Rental Accounts Small Medium Business Ltd Companies Corporation Tax Corporate Finance Bookkeeping & Management Accounts Insolvency Taxation VAT PAYE Construction Industry Scheme Capital Gains Financial Services Pensions Mortgages Wealth Management Asset Finance Testimonials Blog Contact Newsletter JarrowJarrowSouth Shields 0191 420 0550 172-174 Albert Road, Jarrow, NE32 5JA info@kpsimpson.co.uk 0191 455 0518 171 Sunderland Road, South Shields, NE34 6AD info@kpsimpson.co.uk Home About Meet the Team Services Individual Self Assessment Annual and Rental Accounts Small Medium Business Ltd Companies Corporation Tax Corporate Finance Bookkeeping & Management Accounts Insolvency Taxation VAT PAYE Construction Industry Scheme Capital Gains Financial Services Pensions Mortgages Wealth Management Asset Finance Testimonials Blog Contact Newsletter Award Winning Small / Medium Business Accountants Individual Taxation Services Financial Services setREVStartSize({c: 'rev_slider_2_1',rl:[1240,1024,778,480],el:[660],gw:[1240],gh:[660],type:'standard',justify:'',layout:'fullwidth',mh:"0"}); var revapi2, tpj; function revinit_revslider21() { jQuery(function() { tpj = jQuery; revapi2 = tpj("#rev_slider_2_1"); if(revapi2==undefined || revapi2.revolution == undefined){ revslider_showDoubleJqueryError("rev_slider_2_1"); }else{ revapi2.revolution({ DPR:"dpr", visibilityLevels:"1240,1024,778,480", gridwidth:1240, gridheight:660, perspective:600, perspectiveType:"local", editorheight:"660,768,960,720", responsiveLevels:"1240,1024,778,480", progressBar:{disableProgressBar:true}, navigation: { mouseScrollNavigation:false, wheelCallDelay:1000, onHoverStop:false, touch: { touchenabled:true } }, fallbacks: { allowHTML5AutoPlayOnAndroid:true }, }); } }); } // End of RevInitScript var once_revslider21 = false; if (document.readyState === "loading") {document.addEventListener('readystatechange',function() { if((document.readyState === "interactive" || document.readyState === "complete") && !once_revslider21 ) { once_revslider21 = true; revinit_revslider21();}});} else {once_revslider21 = true; revinit_revslider21();} What kind of business do you have?Lets narrow this down a littleIndividualPersonal financial planning, estate planning, and the inconvenience of filing your own taxes are common struggles people face when considering… That's MeSmall/Medium BusinessKP Simpson specialise in the preparation of business accounts. The small and medium sized business customers form the majority of the clients… That's MeTaxationIf the thought of filling in your own tax return fills you with dread, you’re not alone. Many people find it complicated and time-consuming... That's MeFinancial ServicesAt KP Simpson we also deal with Capital Gains Tax. Capital Gains Tax is a tax on the profit when you sell (or ‘dispose of’) something (an ‘asset’)… That's MeSome of Our Happy Clients“Andy and his team recently took over looking after my accounts. They have been absolutely outstanding and managed my expectations every step of the way. They’ve kept me in the loop at every opportunity and helped educate me on how to keep my books more effectively too. I already highly recommend KP Simpson to anyone I know Chris OrdChris Ord Photography“I’ve been with KP Simpson since 2011 a year after starting my business, I have no idea how I did my first year of accounts on my own. They are a friendly, efficient and professional team and there staff are always on hand to offer advice. I would definitely recommend KP Simpson to any business that needs a an accountant. Steve MyersPaper VoiceInsolvencyIf your business is struggling to pay debts, and you feel you have nowhere to turn, please contact us and we can arrange for a meeting… Read MorePAYEIf you make a payment to an individual, then it may be that you have to have a PAYE scheme open and pay that person through the payroll… Read MoreVATEffective VAT planning aims to ensure that VAT is relatively painless, and that you are reclaiming as much as possible of the VAT you pay… Read MoreMortgagesWe have teamed up with a mortgage provider, who can give you expert advice if your thinking of moving home, remortgaging, or looking for… Read MoreSelf AssessmentYour self-assessment returns are important and can be tricky working out what your next move is going to be. A self-assessment return is... Read MoreConstruction Industry SchemeThe Construction Industry Scheme (CIS) is when contractors deduct money from a sub-contractor’s payments and pass it to HM Revenue and Customs… Read MoreWealth ManagementWealth Management and PensionsWe work very closely with a financial advisor, which can you bring you the following advice… Read MoreCorporate FinanceIf your thinking of buying an asset for the company, be it property, a business or equipment, we have the contact and knowledge to be… Read MoreGet updates from usRecent NewsNovember 13, 2025Enforcement of the minimum wageThe Department for Business & Trade has recently published a report that outlines theRead More...November 10, 2025How many businesses are there in the UK?Current estimates suggest that there are around 5.6 million businesses operating in the UK. ThisRead More...November 10, 2025Directors liability for company debtsA limited company is a separate legal entity. In normal circumstances, its debts belong to theRead More...November 7, 2025Tax Diary December 2025/January 20261 December 2025 - Due date for Corporation Tax payable for the year ended 28 February 2025. 19Read More...November 6, 2025P45s, P11Ds and P60s – what are they?Most employees will come across forms such as the P45, P11D and P60 during their working life, andRead More...November 6, 2025Company Voluntary ArrangementsA Company Voluntary Arrangement (also known as a CVA) is a special arrangement that allows aRead More...November 6, 2025Tax and trivial benefitsThere is a trivial benefit-in-kind (BiK) exemption that applies to small, non-cash gifts (such as aRead More...November 6, 2025Pay for imports declared via the CDSIf your business imports goods into the UK, it is important to be familiar with the CustomsRead More...November 6, 2025Tell HMRC about unpaid tax on cryptoassetsWhere cryptoasset tokens (also known as cryptocurrency) are held personally, this investment isRead More...See all news...JarrowWe’re based in the heart of Jarrow, we’re easy to find and have ample parking. Our offices are just a stones throw from Jarrow Metro Station too. 172-174 Albert Road, Jarrow, NE32 5JAinfo@kpsimpson.co.uk 0191 420 0550 Want to talk to us in person?Come to our officesSouth ShieldsIn South Shields we’re based on Sunderland Road, surrounded by a few shops and cafés. Our offices are just south of the famous Westoe Rugby Club. 171 Sunderland Road, South Shields, NE34 6ADinfo@kpsimpson.co.uk 0191 455 0518Important InformationPrivacy Policy Testimonials Data Policy Services Newsletter Blog Terms & Conditions Recent Posts Enforcement of the minimum wage How many businesses are there in the UK? Directors liability for company debts Tax Diary December 2025/January 2026 Jarrow 0191 420 0550 info@kpsimpson.co.uk 172-174 Albert Road Jarrow NE32 5JA South Shields 0191 455 0518 info@kpsimpson.co.uk 171 Sunderland Road, South Shields, NE34 6AD Copyright 2009 - document.write(new Date().getFullYear()); © KP Simpson. 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