Tax Diary January/February 2021

January 4th, 2021

1 January 2021 – Due date for Corporation Tax due for the year ended 31 March 2020. 19 January 2021 – PAYE and NIC deductions due for month ended 5 January 2021. (If you pay your tax electronically the due date is 22 January 2021) 19 January 2021 – Filing deadline for the CIS300 monthly […]

Strategies for the self-employed

January 4th, 2021

The end of the calendar year is a popular accounting date for many businesses, but for those of us with a year-end accounting date of 31 March 2020, reviewing your management accounts for the nine months to the end of December 2020 can have real benefits. For example: If you are self-employed and for the […]

The end is nigh

January 4th, 2021

In just three short months the present tax year – 2020-21 – will end midnight, 5th April 2021. The UK’s tax code is predominantly time limited. Any reliefs and exemptions from UK taxes for 2020-21 will mostly expire at the end of the tax year. Accordingly, there is an imperative to review your tax affairs […]

Scammers posing as HMRC

January 4th, 2021

We already have more than our fair share of adversity to deal with at present, don’t let criminals add to your woes by defrauding you of hard-earned cash resources. HMRC has recently published a warning to taxpayers about scammers posing as HMRC employees. They said: Self-Assessment customers should be alert to criminals claiming to be […]

Concerned about tax payments due 31 January 2021?

December 23rd, 2020

UK taxpayers that file a tax return will need to pay a variety of self-assessment tax and NIC liabilities that will fall due at the end of January 2021. They include:   · The second payment on account for 2019-20 if deferred when first due 31 July 2020. · Any balance of taxes unpaid for […]

Parting shot from the Chancellor

December 22nd, 2020

For a man that has admitted he has concerns about the level of government funding committed to the support of businesses during the last nine months, Rishi Sunak’s disclosure last week that he is extending the furlough scheme to the end of April 2021 points to a deepening concern in government that we are not […]

Looks like we are heading for a no-deal exit from the EU

December 17th, 2020

If the following criteria apply, this is what our government recommend that you do from 1 January 2021: You: Are British Live and work in the UK Travel to the EU for business reasons Have no plans in the short-term to travel abroad for holidays Do not plan to move to the EU Run and/or […]