HMRC clarifies furlough queries
March 23, 2021

HMRC has recently clarified the action you need to take if you have claimed too little or too much under the furlough scheme (Coronavirus Job Retention Scheme). They are published in a FAQ format. Here’s what they...

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What are Super-Deductions?
March 18, 2021

Most company business owners understand that if you incur a cost that is wholly and exclusively for the purpose of your trade, then it can be deducted from your taxable profits or added to tax losses.

Likewise, if companies invest in...

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Pension pot top-ups before 6 April 2021
March 16, 2021

The 2020/21 tax year comes to an end on 5 April 2021. As this date approaches, it is prudent to review your pension contributions and consider whether it would be beneficial to top up your pension before the end of the tax...

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SEISS – the net widens
March 12, 2021

One aspect of the recent budget will please self-employed business owners that have previously been unable to claim under the Self-Employed Income Support Scheme (SEISS) as they commenced trading after 5 April 2019.

As long as you...

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Stealth Tax
March 11, 2021

You may have noticed that a certain phrase came up more than once in the Chancellor’s Budget speech last week.

The phrase went something like this:

Allowances/rates will be frozen at this level until April...

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Tax Diary March/April 2021
March 9, 2021

1 March 2021 - Due date for Corporation Tax due for the year ended 31 May 2020.

2 March 2021 – Self-assessment tax for 2019/20 paid after this date will incur a 5% surcharge.

19 March 2021 - PAYE and NIC deductions due for...

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Minimum Wage levels from April 2021
March 9, 2021

From April 2021, the National Living Wage (NLW) will be the statutory minimum wage for workers aged 23 and over. It currently applies to workers aged 25 and over. The reduction in the NLW age threshold follows a review of the structure of the...

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Exporters – simplified declarations
March 9, 2021

You can make a simplified declaration before you export your goods. This is called ‘presenting’ your goods to customs.

The first part of your declaration does not need as much information as a full declaration. When...

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Marriage Allowance claim
March 9, 2021

HMRC published the following press release on Valentine’s Day 2021.

HMRC is encouraging married couples and people in civil partnerships to sign up for a tax break this year.

Marriage Allowance offers...

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Tax breaks working from home
March 9, 2021

Employed persons

If your employer requires that you work from home, this will apply to many employees during the various COVID lock-down periods, HMRC will allow you to claim for any extra costs associated with working...

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