The fifth and final SEISS grant for the self-employed is now open for application but this time the amount will depend on the turnover of the business.
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When you work for clients you expect to be paid for the work you do. However many small businesses really struggle to get paid on time, if at all and sometimes even invoices are missed. It is so important to make sure you are clear about your payment terms and you have a system in place for your invoicing so that your clients will be clear on how they pay you and when.
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There have been lots of changes to IR35 in the past few years and it is indeed here to stay. IR35 is also known as the off-payroll working rules, and although IR35 in itself is nothing new and has always been applicable to contractors, the new rules that come into force from April 2021 will affect many freelancers.
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Embrace digital technology and improve your management skills with the government’s £520 million Help to Grow scheme aimed at small and medium-sized enterprises (SMEs). Learn new skills, reach new customers, and boost profits.
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We are just days away from the end of the 2020/21 tax year so you still have time to take advantage of any final tax planning opportunities. Here are our top 21 tax planning tips for 2021.
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The Chancellor, Rishi Sunak, kicked off his 2nd Budget yesterday with his three point plan, with an emphasis on supporting jobs and protecting livelihoods, fixing public finances and laying the foundations of our future economy. Here’s a breakdown of some key features.
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One of the first government initiatives announced in response to the coronavirus pandemic was the deferral of the VAT payment due between 20 March and 30 June 2020, until 31 March 2021. However, it was announced that a new deferral scheme would be put in place to extend the payment due date. This went live on 23 February, enabling the outstanding amount to be settled by up to 11 interest-free monthly payments from March 2021. Unlike the initial deferral, you must now join the scheme to be able to claim the deferral.
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Are you one of the 1,790,368 taxpayers who missed the tax return filing deadline? Great news - HMRC have confirmed that the £100 late filing penalty will be waived for tax returns filed by 28 February 2021. And if you are struggling to pay your January 2021 tax bill, there’s help for you too.
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Although the UK voted to leave the European Union in 2016 and officially left the trading bloc on the 31st January 2020 a trade deal has been in negotiation over a 12 month transition period. With time running out a deal was finally agreed on 24th December and passed into law to come into effect from 31st December 2020.
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Got an email about a tax refund you weren’t expecting? Been threatened with court summons by phone? Our guidance explains how to deal with fake HMRC emails and calls so you don’t get caught.
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Confused? On Saturday 31st October, the Prime Minister shared a myriad of graphs whilst announcing a further lockdown in England for November. And if that wasn’t confusing enough, just when we thought we understood the new Job Support Scheme, he instead announced an extension to the furlough scheme. With all the goalposts constantly moving, here’s our guide to help you get your head around the changes.
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With so much information, support and guidance out there it’s easy to get confused as to what is available, not to mention what rules apply! Have a read of our helpful breakdown and see what help is available to you.
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The Chancellor Rishi Sunak yesterday made a speech announcing various further measures to support businesses and taxpayers. Here we take a look at the headlines announced
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The last six months have been tough for everyone, but especially for the SME sector. Many businesses have struggled with the constant anxiety of reduced cash flow caused by the economic uncertainty resulting from the pandemic and the rules and regulations the Government have enforced to manage the virus.
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As businesses start returning to normal, have you got your ducks in a row? Summer already feels like a distant memory and as we come into the last quarter of the year, September is a great time to make a plan for the next four months of 2020. With the end of the government support looming, and people returning to work, it’s time to plan ahead.
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Are you fed up of working from the kitchen table surrounded by kids and cables? As more people are now working from home, the desire for a designated workspace has become a priority. If there’s not enough space in your home and you run a business, find out where you can save tax on creating a garden office.
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August 6th is Cycle To Work Day! Getting on a bike instead of a packed commuter train has exploded in popularity - but other than the health and environmental benefits, did you know there is also a benefit to your pocket with the Cycle To Work Scheme?
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Things are a little different this year, and payments on account are no exception. HMRC have automatically deferred the 31st July payment on account until 31st January 2021. Here are our tips on how you can be prepared.
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Electric cars are good for the environment and can be good for your pocket. We know the general economical benefits, but if you’re running a business then there’s some tax benefits too….
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The P11D deadline is fast approaching so now’s the time to get this done if you haven’t done already. In most instances Class 1 or Class 1a National Insurance Contributions are due.
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