Tax Diary January/February 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
Accounting for import VAT on your VAT return
From 1 January 2021, businesses will be able to account for import VAT on imports into Great Britain (England, Scotland and Wales) from EU and non-EU countries. Businesses in Northern Ireland will be
Furlough extended to end April 2021
During an announcement to Parliament today, 17 December 2020, the Chancellor confirmed the following:
An extension of the furlough scheme until the end of April 2021,
The date for Budget 2021 has
Sharing costs
Independence is a cultivated concern. We all want to be self-sufficient.
In a business environment this might manifest as having a separate Wi-Fi source even though it may be possible to share Wi-Fi
Too good to be true?
Right now, any reference to a return to 2019 trading conditions seems to echo the title of this short article, too good to be true.
Common sense tells us that we are unlikely to emerge largely,
Employing domestic staff
When you employ someone to work in your home it is your responsibility to meet the employee’s rights and deduct the correct amount of tax from their salary. This can include employees such as a nanny,
SDLT change for mixed use buildings
HMRC’s published guidance on the application of the 3% higher rate of Stamp Duty Land Tax (SDLT) has been updated. The higher rates of SDLT were introduced on 1 April 2016 and apply to purchases of
Correcting errors on VAT returns
Where an error on a past VAT return is uncovered, businesses have a duty to correct the error as soon as possible. As a general rule, any necessary adjustment can be made on a current VAT return.
HMRC crackdown on avoidance schemes
HMRC and the Advertising Standards Authority (ASA) have come together to jointly target misleading marketing by promoters of tax avoidance schemes. HMRC and the ASA can jointly issue an Enforcement
New Christmas grant for pubs
The Prime Minister, Boris Johnson, has announced an additional one-off £1,000 Christmas grant for wet-led pubs in tiers 2 and 3 who will miss out on much needed business during the busy Christmas
