Will HMRC contact me about SEISS payments?

Will HMRC contact me about SEISS payments?

If you commenced self-employment after 5th April 2019 If you started your self-employment after 5th April 2019, you were initially denied support under the Self-Employed Income Support Scheme (SEISS) and the first three quarterly payouts…
Can I claim the fourth and fifth SEISS payouts during 2021?

Can I claim the fourth and fifth SEISS payouts during 2021?

If you commenced self-employment after 5th April 2019 If you started your self-employment after 5th April 2019, you were denied support under this scheme from the first three quarterly payouts to 31st January 2021. The good news is that…
How do I move my business forward after lockdown?

How do I move my business forward after lockdown?

From June 21st, 2021, the government has now declared its intention to have all UK businesses back up and running and free of lockdown restrictions.  As with all of these announcements, it's worth noting this date depends on the continuation…
How will budget changes affect me?

How will budget changes affect me?

The Chancellor, Rishi Sunak, presented his 2021 Budget on 3rd March 2021. The extent to which the measures will affect you will depend on your personal circumstances. We've divided this report for your convenience into a total of three sections: …
How I can I avoid late penalty charges for self-assessment taxes?

How I can I avoid late penalty charges for self-assessment taxes?

Still owe NIC and tax due to be paid 31st January 2021? Many self-assessment taxpayers will have tax and NIC unpaid for 2019-20 and possibly payments on account for 2020-21. The payments were all due to be settled by 31st January 2021. The…
Will the CIS Reverse Charge affect me?

Will the CIS Reverse Charge affect me?

A reminder that from 1st March 2021, the long-awaited VAT changes for CIS registered contractors, who register for VAT, will apply. What will happen on 1st March 2021? At the moment, when you receive an invoice from a subcontractor for…
What is Pay As You Grow (PAYG)?

What is Pay As You Grow (PAYG)?

The Treasury has advised banks operating the Bounce Back Loan scheme to offer an even more flexible approach for when repayments are due to be paid. Pay As You Grow (PAYG) The new conditions, known as the Pay As You Grow approach, are offering…
Landlords Tax Planning Check List 2020-21

Tax planning for landlords

This year landlords have seen significant reductions in rental income. Those who have substantial loan commitments have been faced with selling a property to reduce their exposure. Below, you'll find a list highlighting some potential tax…
Income Tax – avoiding higher rates of tax

Income Tax – avoiding higher rates of tax

You will undoubtedly be aware that the three income tax rates are 20%, 40%, and 45%. What you may not know is that your personal tax circumstances can boost these rates. For example, suppose your taxable income exceeds £100,000. In that case,…
Dealing with VAT arrears

Dealing with VAT arrears

As part of the on-going government response and financial support to businesses affected by COVID-19 last year, VAT-registered firms were allowed to defer VAT payment due between 20th March 2020 and 30th June. When do you need to pay your deferred…
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