As the clock ticks towards the self-assessment return deadline, HMRC is reminding those people awarded Covid grants they must declare them. Anyone receiving some or all of the first three…
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As self-assessment deadlines loom, many people could end up receiving a higher tax bill than usual this year! On January 31, 2022, self-assessment tax returns, including activity from 6 April…
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Plans to introduce digital tax reporting for businesses that are not VAT-registered and the self-employed are being delayed by a year. HMRC says Making Tax Digital (MTD) will be introduced…
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Boris Johnson last week revealed that National Insurance rates (NICs) will increase by 1.25 percentage points from April 2022. Under the plans, employees, employers and the self-employed will see increases…
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Time is running out for business owners to submit P11D forms. Each year, these forms – which report employees’ benefits in kind – need submitting to HMRC by 6 July.…
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Self-employed can now apply for the fourth round of SEISS grants. Millions of sole traders will be receiving emails, letters to let them know if they are eligible. Those people…
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Deferred VAT payments from 2020 can now be paid in instalments to clear the debt thanks to a new government portal. Businesses could defer the VAT they owed between 20…
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After several delays, the Construction Industry Scheme (CIS) VAT reverse charges will be applied from March 1. The measure was due to start in October 2019, but Brexit and Covid-19…
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The government’s Making Tax Digital (MTD) initiative sees taxpayers move to a fully digital system in the next three years. Most things are being done via the internet these days,…
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As the second lockdown comes into force tomorrow, business support is changing to help those affected. Rishi Sunak has revealed how the government will be supporting businesses and self-employed workers…
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