Blog
The end of 2020/21 is fast approaching – what should I be thinking about?
If your Income Tax is still owing for 2019/20 - you'll not be charged the initial 5% late payment penalty if you settle your tax liability – or set up a payment plan with HMRC – by 1 April 2021 You should also Make plans to manage your tax...
Off-Payroll working from April 2021 & how it could affect you
Employers must run a PAYE scheme and settle Income Tax and National Insurance Contributions (NICs) on an employee's pay. Historically these PAYE costs were often avoided by engaging private contractors directly rather than as employees. However anti-avoidance...
Changes to the VAT Reverse Charge for the Construction Industry Scheme
From 1 March 2021 VAT-registered subcontractors will no longer charge VAT on certain construction services to another VAT-registered business. Instead the customer will 'self-account' for any VAT due this is known as the Reverse Charge. This change affects both...
Changes to late filing penalty for 2019-20 Self Assessment returns
Today HMRC announced that anyone required to complete a Self Assessment for 2019-20 will not receive a penalty for filing their tax return late as long as they file their tax return online by 28 February. However we are still advising our clients who have not yet...
Tax planning advice for year end 2020/21
Whilst we are expecting to receive more information on the economic support available in light of the coronavirus pandemic will we see tax rises - despite the governments pledge not to raise Income Tax VAT or National Insurance during their current term of office? The...
Artificial Intelligence is changing the way we run our businesses
Embracing technology Technology has transformed our world over the last decade and is continuing to do so at an ever-increasing pace. Running a business is not immune to the advancement of artificial intelligence (AI) and machine learning; especially with regards to...
Is your 2020 Tax Return still outstanding?
Despite professional bodies lobbying HMRC to extend the 31 January 2021 Tax Return filing deadline due to the impact of the pandemic sadly their efforts have been in vain and 2020 Tax Returns submitted after 31 January 2021 will still incur the £100 late filing...
Virtual Christmas parties and tax-free gifts for your employees
While we may not be able to get together for our annual Christmas Party this year that does not mean Christmas is cancelled. December is usually the month when many companies would be enjoying their Christmas Parties and thanking staff for all their hard work...
3rd Round of the Self-Employed Income Support Scheme grant is now available
The third round of the Self-Employed Income Support Scheme (SEISS) grant is now available until 29 January 2021 BUT .. Some of the terms and conditions have changed which could mean that you are not eligible to make a claim. In brief the following conditions must all...
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