Time to check Minimum Wage Rates?
July 22, 2021

HM Revenue and Customs (HMRC) has issued a statement urging students and other summer workers to check that they are being paid the correct National Minimum Wage (NMW) rates.

In the 2020/21 tax year, HMRC helped over 150,000 workers...

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Claiming for work-related expenses
July 20, 2021

The tax office is now open for claims from employees that have incurred work-related costs for the year to 5 April 2021 and have not been – and will not be – reimbursed by their employers.

How to make a claim –...

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Is inflation something to be concerned about?
July 15, 2021

Inflation is a measure of how much the value of currency depreciates each year. For example, if prices for a loaf of bread rise by 3% in a year, you would have to earn that extra 3% to continue to purchase bread, so your extra earnings would...

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Is July 19th freedom-day?
July 13, 2021

Next week, many of the present lockdown regulations in England are being relaxed. But cautionary guidance has also been published. It recommends:

  1. Meeting in well-ventilated areas where possible, such as outdoors or indoors with...

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Business rates overall for England
July 8, 2021

One of the largest fixed costs associated with business premises are rates payments to local authorities.

The present system for reviewing rates in England is somewhat antiquated, the last review in England was 2017.

The...

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Furlough support changed 1 July 2021
July 6, 2021

Employers will need to start contributing to work not done by furloughed employees from 1 July 2021.

The update from HMRC is reproduced below:

From 1 July 2021, the level of grant will be reduced, and you will be asked to...

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Tax Diary July/August 2021
July 1, 2021

1 July 2021 - Due date for Corporation Tax due for the year ended 30 September 2020.

6 July 2021 - Complete and submit forms P11D return of benefits and expenses and P11D(b) return of Class 1A NICs.

19 July 2021 - Pay Class 1A...

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Taking goods abroad to sell?
July 1, 2021

You must declare goods that you take with you to sell outside the UK - for example if they are in your baggage or in a private vehicle.

There is a different process if you take goods abroad temporarily (for example samples for a trade...

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Beware tax credit renewal scams
July 1, 2021

Tax credits applicants should be vigilant and alert to potential scams, HMRC has warned.

In the 12 months to 30 April 2021, HMRC responded to more than 1,154,300 referrals of suspicious contact from the public. More than 576,960 of...

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What is the Unclaimed Estates List?
July 1, 2021

If an individual dies and for whatever reason executors or the Treasury Solicitor’s department are unable to track down beneficiaries, the unclaimed estate falls under the care of the Bona Vacantia and Government Legal...

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