The fifth (and final) SEISS grant is now available for the self-employed, HMRC will contact those traders that may be eligible with their claim date. The eligibility criteria remain broadly the same as the fourth grant. Self-employed profits in 2019/20 must not exceed £50,000 and must be more than 50% of your total income. If […]
Date What’s Due 1/08 Corporation tax for year to 31/10/20 (unless pay quarterly) 19/08 PAYE & NIC deductions, and CIS return and tax, for month to 5/8/21 (due 22/08 if you pay electronically) 1/09 Corporation tax for year to 30/11/20 (unless pay quarterly) 19/09 PAYE & NIC deductions, and CIS […]
Date What’s Due 01/07 Corporation tax for year to 30/9/20 (unless pay quarterly) 05/07 Last date for agreeing PAYE settlement agreements for 2020/21 employee benefits 05/07 Deadline for agents and tenants to submit returns of rent paid to non-resident landlords and tax deducted for 2020/21 06/07 Deadline for forms P11D and P11D(b) for 2020/21 tax […]
HMRC are currently attacking a marketed tax avoidance scheme using unfunded pension arrangements to avoid Corporation Tax, Income Tax and National Insurance contributions. HMRC strongly believes these arrangements do not work and will seek to challenge anyone promoting or using these arrangements and make sure the correct tax is paid. Users of these arrangements may […]
Pension contributions to approved pension funds on behalf of employees and directors continue to be a tax-free benefit provided the annual input limit is not breached. The contributions are also deductible for the employer provided incurred wholly and exclusively for the purposes of the trade and paid before the end of the accounting period of […]
If you have children under 12 who attend a nursery, after school club, playscheme, childminder or you are considering sending them to a summer camp you should think about setting up a tax-free childcare account. The government adds 25% to the amounts that you save in the account up to £2,000 for each child so […]
The fifth (and final) SEISS grant will be available for the self-employed to claim towards the end of July. The eligibility criteria remain broadly the same as the fourth grant. Self-employed profits in 2019/20 must not exceed £50,000 and must be more than 50% of your total income. If that test is not met, then […]
The VAT deferral new payment scheme is currently open for all businesses that deferred VAT due between 20 March 2020 and 30 June 2020 and were unable to pay in full by 31 March 2021. Businesses can spread these payments over several months – businesses that join by 21 June 2021 will still be able to benefit […]
Date What’s Due 01/06 Corporation tax for year to 31/8/20 (unless pay quarterly) 19/06 PAYE & NIC deductions, and CIS return and tax, for month to 5/6/21 (due 22/06 if you pay electronically) 01/07 Corporation tax for year to 30/9/20 (unless pay quarterly) 05/07 Last date for agreeing PAYE settlement agreements for 2020/21 employee […]
A recent case before the tax tribunal has confirmed that all of a company’s shares are ordinary shares except those that carry a fixed rate of return. This is crucial as CGT business asset disposal (BAD) relief requires a shareholder to be entitled to at least 5% of a company’s ordinary share capital in addition […]
