HMRC has announced that Self-Assessment customers won’t be charged the initial 5% late payment penalty providing they pay their tax or make a Time to Pay arrangement by 1 April 2021. The submission and payment deadline for Self-Assessments is 31 January, with interest... read more
The government has announced that anyone who made a claim for the Bounce Back Loan Scheme (BBLS) can delay repayments by an extra six months. The scheme was introduced shortly after the UK went into its first lockdown last year in a bid to help small and medium-sized... read more
New VAT rules for the UK’s construction sector will come into effect from 1 March 2021. Referred to as ‘the domestic reverse charge for supplies of building and construction services,’ the changes will affect sub-contractors who supply their services to other... read more
As you may already be aware, it’s less than 70 days until changes to IR35 come into effect. At the moment, contractors who operate through their own personal service company (PSC) are responsible for ensuring they’re paying Income Tax and National Insurance. From 6... read more
The deadline for claiming the third instalment of the Self-Employment Income Support Scheme (SEISS) is rapidly approaching. If you’re self-employed and have been negatively affected by coronavirus, you have until 29 January 2021 to make your claim. You can find out if... read more
It will come as a relief to many that HMRC has extended the deadline for the submission of 2019/20 Self-Assessment Tax Returns. The traditional 31 January deadline has been extended to 28 February and customers will not receive a penalty providing they file their... read more
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