19 September PAYE & NIC deductions, and CIS return and tax, for month to 5/9/20 (due 22 September if you pay electronically) 1 October Corporation tax for year to 31/12/19 unless pay by quarterly instalments 5 October Deadline for notifying HMRC of chargeability for 2019/20 if not within Self-Assessment and receive income or gains on […]
For VAT purposes the definition of a motor car has been amended several times over the years. The current definition states: “Motor car” means any motor vehicle of a kind normally used on public roads which has three or more wheels and either: a) is constructed or adapted solely or mainly for the carriage of […]
Since 2019, the vast majority of VAT-registered businesses with a taxable turnover above the VAT threshold (£85,000) have been mandated to keep digital VAT records and send returns using Making Tax Digital (MTD)-compatible software. From April 2022 these requirements will apply to all VAT-registered businesses. It has also been announced that MTD for Income Tax […]
The Court of Appeal have now ruled on the tax status of certain vehicles provided to employees of Coca Cola. The court has upheld the HMRC view that vans with windows and a second row of seats behind the driver are not goods vehicles but motor cars for benefit in kind purposes. Consequently, the income […]
Class 2 National Insurance Contributions (NICs) are currently paid at the rate of £3.05 per week by self-employed earners. A person who is liable to Income Tax on the profits arising from the receipt of property rental income will only be a self-employed earner for NICs purposes if the level of activities carried out amounts […]
The calculation of Coronavirus Job Retention Scheme grants has proven to be complex, particularly as HMRC frequently changed the rules and the method of computation. Consequently, many errors have arisen and need to be corrected. The latest Finance Act requires employers to notify HMRC within 90 days where it turns out that they were not […]
Class 2 National Insurance Contributions (NICs) are currently paid at the rate of £3.05 per week by self-employed earners. A person who is liable to Income Tax on the profits arising from the receipt of property rental income will only be a self-employed earner for NICs purposes if the level of activities carried out amounts […]
We are delighted to announce that Jackie Wilding will be celebrating her 40-year anniversary this year at Bryden Johnson and, in addition to this will be taking on the role of Managing Director from this month. “I feel incredibly proud to have worked at Bryden Johnson for 40 years – a company that celebrates its […]
Date What’s Due 1/08 Corporation tax for year to 31/10/19 (unless pay quarterly) 19/08 PAYE & NIC deductions, and CIS return and tax, for month to 5/8/20 (due 22/08 if you pay electronically) 1/09 Corporation tax for year to 30/11/19 (unless pay quarterly) 19/09 PAYE & NIC […]
The government is introducing a new Job Retention Bonus to provide additional support to employers who keep on their furloughed employees in meaningful employment, after the government’s Coronavirus Job Retention Scheme ends on 31 October 2020. The Job Retention Bonus is a one-off payment to employers of £1,000 for every employee who they previously claimed […]
