by Paul Whyatt | Apr 12, 2021 | Business Advice, Personal Tax, Taxation
As the owner and director of your own company you decide how much salary to take each year. Paying yourself a small salary can be a good way to maintain your national insurance record to build up state benefit entitlements. In the tax year 2021/22, if you take a...
by Paul Whyatt | Apr 9, 2021 | Business Advice, News, Personal Tax
Self-employed individuals will be able to apply for the fourth SEISS grant from late April, if they submitted their tax return for 2019-20 by midnight on 2 March 2021 (it was due by 31 January 2021). HMRC has asked for additional evidence from two categories of...
by Paul Whyatt | Apr 9, 2021 | Business Advice, News, Personal Tax, Taxation
The IR35 rules have been around for over 20 years but those rules have been redrawn and renamed ‘off-payroll working’ These rules have applied in the public sector since April 2017. Since then, public sector engagers (the end client) have determined whether...
by Paul Whyatt | Mar 9, 2021 | News, Personal Tax, Taxation
Chancellor Rishi Sunak made his Budget speech on 3 March 2021. Clearly, much has changed due to COVID 19. The UK economy has shrunk by 10% and we have the highest borrowing since WW2. The total cost of Government support during the crisis will be £407...
by Paul Whyatt | Nov 26, 2020 | News, Personal Tax, Taxation
For a long time, it’s been possible for employers to treat their employees to a Christmas party or other annual function (e.g. Summer BBQ), without the employee being subject to tax on the value of the benefit. Given COVID, holding a Christmas party at a pub,...
by Paul Whyatt | Nov 9, 2020 | News, Personal Tax
On 5 November, the Chancellor announced more changes to the third SEISS grant. The third grant will now be given at 80% of average profits capped at £7,500 for the whole 3- month period between 1 November 2020 and 31 January 2021. It will be paid in a single...
