by Paul Whyatt | Oct 7, 2020 | News, Personal Tax, Taxation
In his recent statement, the Chancellor announced several VAT and self-assessment tax measures to help taxpayers struggling with cash flow due to COVID-19. Here’s a summary of what he had to say. VAT deferral Businesses which deferred VAT payments due in March to June...
by Paul Whyatt | Oct 7, 2020 | Business Advice, News, Personal Tax
In his recent statement, the Chancellor announced that the SEISS would be extended for 6 months, from 1 November to the end of April 2021. This means that the scheme is now made up of four grants rather than the original two. If you’re eligible for the scheme...
by Paul Whyatt | Jun 16, 2020 | Personal Tax
We recommend that you complete your self-assessment tax return as soon as possible after the end of the tax year (5 April), so you can plan for any tax bill. The final deadline for submission of your 2019/20 tax return to HMRC is 31 January 2021, together with any...
by Paul Whyatt | Feb 24, 2020 | Personal Tax
As we approach the end of the 2019/20 tax year, a reminder that couples may be eligible for the Marriage Allowance. The Marriage Allowance lets one partner transfer 10% of their Personal Allowance (currently £1,250) to their husband, wife or civil partner if they earn...
by Paul Whyatt | Feb 11, 2020 | Business Advice, Personal Tax, Taxation
The tax and NI exemption for “trivial benefits” has been around for more than three years. Despite this, it’s often overlooked as a tax-efficient way of treating your employees or yourself. What is a trivial benefit? It’s a gift made by your business...
by Paul Whyatt | Feb 10, 2020 | News, Personal Tax, Taxation
With the 6 April deadline for the new off-payroll rules (IR35) fast approaching, HMRC has produced a factsheet for those working through intermediaries. Are you affected by the new rules? If you provide your services to a client through an intermediary (e.g. your own...
