Tax Diary March/April 2021
1 April 2021 – Due date for Corporation Tax due for the year ended 30 June 2020.
19 April 2021 – PAYE and NIC deductions due for month ended 5 April 2021. (If you pay your tax electronically the due
Flat Rate Scheme limited cost trader check
The VAT Flat Rate Scheme has been designed to simplify the way a business accounts for VAT and in so doing reduce the administration costs of complying with the VAT legislation. The scheme is open to
Incorporation relief
When a taxpayer owns a business as a sole trader or in partnership, a capital gain will be deemed to arise if the business is converted into a company by reference to the market value of the business
Calculating Minimum Wage if paid annual salary
New National Minimum Wage and National Living Wage rates will come into effect on 1 April 2021. These changes will see the National Living Wage increase by 19p to an hourly rate of £8.91 and the
Consider signing up to PROOF scheme
One of the services offered by Companies House helps combat fraud and protect your company from unauthorised changes to records. The free service is known as the protected online filing (PROOF) scheme
Have you claimed too much from furlough scheme?
HMRC’s guidance makes it clear that any business that makes an error in making a Coronavirus Job Retention Scheme (CJRS) claim must pay back any amount overclaimed. Any claims based on inaccurate
Disposing of garden or grounds
In general, there is no Capital Gains Tax (CGT) on a property which has been used as a main family residence. This relief from CGT is commonly known as private residence relief.
However, there are
What would a business vaccine aim to prevent?
Now we are getting used to the idea that the various vaccines will provide some defence against COVID outbreaks, what would a vaccine for our businesses attempt to prevent?
We have listed below a few
Reminder of eight-step export routine
Following the end of the Brexit transition period, the process for exporting goods to the EU mirrors the process for all other international destinations.
Businesses, especially those that only trade
Changing accounting date
There are special rules in place which limit the ability to change a company’s year end date. A company’s year-end date is also known as its ‘accounting reference date’ and is historically set by
