The New Tax year started on the 6th of April and with it came plenty of changes to the rates and thresholds of Tax. You can find all the changes at Gov.uk but I thought I’d summarise some of the main ones here. Personal Tax The Standard Personal Allowance increases to £12,570 for the 2021/22 tax year […]
HMRC will soon be contacting people about the Fourth SEISS grant. The Self-Employment Income Support Scheme (SEISS) will continue until September with a fourth and fifth grant. Here’s a bit of information on what to expect. Fourth SEISS grant – Eligibility and calculation Much of the eligibility criteria remains unchanged from the third grant, with […]
If your business is moving goods between the UK and the EU, you’ll need to follow new customs and tax rules. Your business will be affected by the new rules if it: buys goods from an EU seller and brings them into the UK sends goods to a buyer in an EU country haven’t exchanged […]
Last week, the Chancellor of the Exchequer, delivered the government’s Budget for 2021. In his speech, the Chancellor announced extensions to a number of current COVID-19 schemes. This was alongside additional support for individuals and businesses. Below is a summary of some of the measures announced for employers, including details about tax rate changes. Information about […]
Here is the latest COVID-19 support information for employers on the financial support schemes available. It includes updates on deferring VAT and claiming for furloughed staff through the Coronavirus Job Retention Scheme (CJRS). VAT deferral new payment scheme – join from 23 February If businesses deferred paying VAT due in the period from 20 March to […]
HMRC recently announced that customers will not be charged the initial 5% Self Assessment late payment penalties if they pay their tax or make a Time to Pay arrangement by the 1st of April 2021. As always, the payment deadline for Self Assessment was the 31st of January and interest will be charged from the 1st […]
This is a reminder to Submit January (CJRS) claims now before the upcoming deadline for Coronavirus Job Retention Scheme claims Submit January (CJRS) claims now If you haven’t submitted your claims for January, you must do so by the deadline of Monday 15 February. As a reminder, the UK Government will pay 80% of employees’ […]
On the 25th of January 2021 HMRC announced in a Self Assessment 2021 update customers will not receive a late filing penalty for their late tax return if they file online by the 28th of February 2021. This easement is for late filing penalties only. It does not affect any other tax obligations. A Self […]
This is a reminder to submit Coronavirus SEISS claims. Third SEISS grant deadline The third grant of the Self-Employment Income Support Scheme (SEISS) closes for claims on Friday 29 January. Eligible customers must claim on or before this date. SEISS You can find everything you need to know about the third SEISS grant on GOV.UK […]
The 31st of December 2020 marked the ending of the Brexit transition period and, as a result, there are some actions you need to take now Changes have now come into effect for businesses that trade goods with Europe or represent businesses who do. There are a number of HMRC webinars available to help you […]
