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HMRC’s Annual Tax Summary

The Annual Tax Summary is a document provided by HMRC that provides details on the tax you pay and how this is used by government. The Annual Tax Summary shows: your taxable income from all...

3rd December 2020

Pay January tax by instalments

The deadline for submitting your 2019-20 Self-Assessment tax returns online is 31 January 2021. You should also be aware that payment of any tax due should also be made by this date. This includes the...

3rd December 2020

Confirmation of Minimum Wage increases 2021

The Chancellor used the recent Spending Review to confirm that increased National Minimum Wage and National Living Wage rates will come into effect on 1 April 2021. From 1 April 2021, the National...

3rd December 2020

EU exit - did you read this letter?

The Secretary of State for Business, Energy and Industrial Strategy, Alok Sharma has written a letter to businesses in the professional services sector. The letter (available in English and Welsh)...

3rd December 2020

Deadlines for paying deferred VAT

The coronavirus VAT payment holiday gave businesses the chance to defer the payment of any VAT liabilities between 20 March 2020 and 30 June 2020. The option for businesses to defer their VAT payments...

3rd December 2020

New advisory fuel rates published

Advisory fuel rates are intended to reflect actual average fuel costs and are updated quarterly. The rates can be used by employers who reimburse employees for business travel in their company cars or...

3rd December 2020

Treasury directive re third SEISS grant

HM Treasury has published a further Treasury Direction made under the Coronavirus Act 2020, ss. 71 and 76, which modifies and extends the effect of the Self-Employment Income Support Scheme...

3rd December 2020

Accounting and Reporting standards from 1 January 2021

The Department for Business, Energy and Industrial Strategy (BEIS) and the Financial Reporting Council (FRC) have jointly published a letter to the accounting and audit sectors setting out the UK’s...

3rd December 2020

Recent case re late filing appeal

The First-tier Tribunal (FTT) has dismissed a taxpayer’s appeal for having a reasonable excuse. The taxpayer applied out of time for permission to appeal against penalties imposed by HMRC. The appeal...

3rd December 2020

Supply chains, a predictive approach for 2021

One of the more positive aspects - perhaps the only positive aspect - of COVID disruption has been the movement away from fixed systems to more flexible systems to cope with the changing demands of...

2nd December 2020