Those taxpayers who may have difficulty paying the tax due under self-assessment on 31 January 2021 can agree more time to pay with HMRC provided the amount outstanding is no more than £30,000. The government have already agreed that amounts due under self-assessment on 31 July 2020 could be deferred until 31 January 2021 but […]
The Government has confirmed that the VAT changes that were due to come into effect in October 2020 will now be going ahead next year. The Domestic Reverse Charge (known as the Reverse Charge) will now start on 1 March 2021.. The new Reverse Charge, that applies to building and construction services will affect the way […]
As the lockdown has now started for England and continues elsewhere, the Government has extended the Coronavirus Job Retention Scheme (CJRS). The Chancellor has announced that CJRS will be extended until the end of March 2021 for all parts of the UK. For claim periods running to 31 January 2021, the UK Government will pay […]
In the March 2021 Budget it was announced that CGT Entrepreneurs’ relief (ER) was replaced by CGT Business Asset Disposal relief (BADR) for disposals on or after 11 March 2020. It was also announced that the 10% CGT rate would only apply to the first £1 million of qualifying gains in the taxpayer’s lifetime and […]
You may have seen in the newspapers that Airbnb will share data with HMRC about the earnings of hosts (those who let out property) on its UK platform in the years 2017/18 and 2018/19. It is anticipated that HMRC will use this data to open enquiries into the tax affairs of individuals who have not […]
Date What’s Due 1/11/20 Corporation tax for year to 31/01/2020 unless quarterly instalments apply 19/11/20 PAYE & NIC deductions, and CIS return and tax, for month to 5/11/20 (due 22/11 if you pay electronically) 1/12/20 Corporation tax for year to 28/02/2020 unless quarterly instalments apply 19/12/20 PAYE & NIC deductions, and CIS return and […]
It was announced on the 2 November that the government is increasing its support to the self-employed over the coming months and ensuring people get paid faster than previously planned. To reflect the recent changes to the furlough scheme, the UK-wide Self-Employment Income Support Scheme (SEISS) will be made more generous – with self-employed individuals […]
The Coronavirus Job Retention Scheme has been extended. This was due to end 31 October. The Grant will ensure employees receive 80% of their current salary for hours not worked, up to a maximum of £2,500. Businesses will have flexibility to bring furloughed employees back to work on a part time basis or furlough them […]
The grant extension is for self-employed individuals who are currently eligible for the Self-Employment Income Support Scheme and are actively continuing to trade but are facing reduced demand due to coronavirus (COVID-19). The extension will provide two grants and will last for six months, from November 2020 to April 2021. Grants will be paid in […]
The job support scheme (JSS) will open on 1 November 2020 and run for 6 months. As part of the scheme a company will continue to pay its employee for time worked, but the cost of hours not worked will be split between the employer, the Government (through wage support) and the employee (through a […]
