There has been a lot of speculation on what will be in Rishi Sunak’s second Budget in early March and whether there is any tax planning that you should consider in advance. The government will have to start reducing the £2 trillion of borrowings at some point and increasing tax rates is an option. What […]
Providing training for your team when they are working remotely can be challenging. Delivering a training session to a room full of people can be difficult enough. Engaging with your audience remotely presents a whole new challenge. The first thing to think about is the delivery method. Your firm may already have a webinar or […]
2019/20 income tax, CGT, class 2 and 4 NIC liabilities should have been paid by 31 January 2021 unless you have agreed a payment plan with HMRC. Note that if the balance is still unpaid at the end of February 2020, a 5% surcharge penalty is added in addition to the normal interest charge unless […]
This time last year businesses were preparing for important changes to the rules where workers supply their services via their own personal service companies. The start date was then deferred from 6 April 2020 to 6 April 2021. The new rules are scheduled to apply to large and medium-sized businesses as defined by the Companies […]
Now that the UK has left the EU some taxpayers will start to see additional tax costs. One example is where UK residents own holiday homes in EU countries that they rent out for part of the year. Owners of EU rental properties may now be required to pay more tax in those countries, having […]
Date What’s Due 01/02 Corporation tax payment for year to 30/4/20 (unless quarterly instalments apply) 19/02 PAYE & NIC deductions, and CIS return and tax, for month to 5/02/21 (due 22/02 if you pay electronically) 01/03 Corporation tax payment for year to 31/5/20 (unless quarterly instalments apply) 02/03 5% penalty […]
Information about ‘coronavirus (COVID-19) tests’ has been added. Coronavirus tests provided by the government, as part of its national testing scheme, are not treated as a benefit in kind for tax purposes. This means for employed healthcare workers and other eligible front-line staff who get a test through this programme, there is no tax due […]
If your VAT payments were deferred in the period 20 March – June 2020 you can do one of the following: Pay the deferred VAT in full on or before 31 March 2021 Opt-in to the VAT deferral payment scheme Contact HMRC if you need more time to pay If you would like to opt […]
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 […]
