HMRC changing how they assess profits for sole traders and partnerships
HMRC will be changing how they assess profits for sole traders and partnerships. If you’re a sole trader or partnership, and your accounting date is between 6 April and 30 March, this will affect you. Businesses choose their accounting date when they set... read more
Penalties for overclaimed SEISS grants
HMRC has updated their guidance which sets out the procedure for reporting and repaying overclaimed SEISS Grants (Self-Employed Income Support Scheme). The Revenue is also reminding sole traders and partners who have received these grants, that there are potential... read more
Completing your 2020/21 tax return if you claimed SEISS
The self-employment income support scheme (SEISS) was launched in May 2020. This much-needed grant offered funding to self-employed workers whose businesses were impacted by the COVID-19 pandemic. If you’re one of the nearly three million self-employed individuals who... read more
COVID-19 Update #146: Changes to final SEISS grant
SEISS fourth grant Claims for the fourth grant have now closed. The last date for making a claim was 1 June 2021. SEISS fifth grant A fifth grant covering May 2021 to September 2021 will be open to claims from late July 2021. The grant is taxable and will be... read more