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Ready for tax payments next month?
June 17th, 2021

January and July are positive cash flow months for the UK Treasury as a number of significant taxes fall due for collection. Next month, July 2021, taxpayers may need to settle the following liabilities: 1 July 2021, companies with corporation tax due for the year end date 30 September 2020, will need to pay corporation […]

Beware bogus contacts from HMRC
June 15th, 2021

None of us are particularly thrilled to receive communications from HMRC, but fraudulent contacts, by email and other means, are becoming commonplace and innocent members of the public are being left out of pocket. According to HMRC, in the 12 months to 30 April 2021, they responded to more than 1,154,300 referrals of suspicious contact […]

VAT Deferral Scheme deadline
June 10th, 2021

The online portal for the new VAT payment scheme closes on 21 June 2021. Over half a million businesses deferred £34 billion in VAT payments due between March and June 2020 under the VAT Payment Deferral Scheme. Businesses had until 31 March 2021 to pay this deferred VAT or, if they could not afford to […]

Outlook for employment
June 9th, 2021

Government continues to be optimistic about the outlook for employment. In a recent press release they said: “Furlough numbers have fallen to their lowest level this year, according to official statistics published 3 June, as the number of people relying on the scheme fell to 3.4 million.” And yet that is still 3.4 million who […]

The 7-year rule
June 3rd, 2021

If there is any Inheritance Tax to pay on gifts you make during your lifetime, it is charged at 40% on gifts given in the 3 years before you die. Gifts made 3 to 7 years before your death are taxed on a reducing, sliding scale known as ‘taper relief’. Years between gift and death […]

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