As the 31 January deadline approaches please be aware of copycat HMRC websites and phishing scams which increase during this time. HMRC customers should always type in the full online address www.gov.uk/hmrc to get the correct link for their Self Assessment tax return online securely and free of charge. Be alert if someone calls, emails or texts […]
The HMRC self- serve time to pay facility is now available online to set up monthly direct debits to pay outstanding tax liabilities. You can set up a payment plan to spread the cost of your latest Self Assessment bill if: you owe £30,000 or less you do not have any other payment plans or […]
We live in uncertain times and planning for the future is challenging. Rather than paying attention to what you can’t do, focus on what you can do. For example, when restaurants couldn’t serve customers indoors, they transitioned to delivery, take-away and outdoor dining. Regardless of the type of business that you manage, this is the […]
In the current uncertain economic climate, signing up to a new office lease can be a challenging task. How much office space will you need in 3 to 5 years time? It will depend on whether your workforce will want to continue working remotely or not, and how many of the team will be working part time – will a desk […]
Date What’s Due 1/01 Corporation tax payment for year to 31/3/20 (unless quarterly instalments apply) 19/01 PAYE & NIC deductions, and CIS return and tax, for month to 5/01/21 (due 22/01 if you pay electronically) 31/01 Deadline for Self-Assessment tax return for 2019/20 if filed online. Also the due date for 2019/20 balancing payment […]
Top of the to do list for many individuals is to make or update their will. Many think this is something to leave until later in life but it is important to get things in place once property is acquired or when children come along. In the absence of a will there are statutory rules […]
These are the suggested reimbursement rates for employees’ private mileage using their company car from 1 December 2020. Where there has been a change the previous rate is shown in brackets. Engine Size Petrol Diesel LPG 1400cc or less 10p 7p 1600cc or less 8p 1401cc to 2000cc 11p (12p) 8p 1601 to 2000cc […]
The Chancellor recently announced that the temporary increase in the Annual Investment Allowance (AIA) for expenditure on plant and machinery has been extended to 31 December 2021. The tax relief was originally scheduled to revert to just £200,000 from 1 January 2021, but that will now be delayed by twelve months. Remember that there is […]
As previously mentioned, the new VAT rules are finally due to come into effect this March which will impact on accounting for VAT for transactions in the construction sector. These new rules, which were originally scheduled to start back in October 2019, have already been delayed twice as there was a lack of awareness of […]
At this time of year we think about New Year’s resolutions. It is also a good time to start planning your tax affairs before the end of the tax year on 5th April. An obvious tax planning point would be to maximise your ISA allowances for the 2020/21 tax year (currently £20,000 each). You might […]
