More time to file tax returns and pay tax due
January 13th, 2022

HMRC is responding to the pressures we all feel as the new COVID-19 variant, Omicron, makes normal life difficult once more. The offer by HMRC is generous. Basically, they have announced that taxpayers who have still not filed their self-assessment tax returns for 2020-21, will be granted an extra month to file online without triggering […]

Are you registered to use MTD for VAT?
January 11th, 2022

Businesses are reminded to take steps to prepare for Making Tax Digital for Value Added Tax (VAT) before it becomes mandatory for all VAT-registered businesses from 1 April this year. Making Tax Digital is designed to help businesses eliminate common errors and save time managing their tax affairs. Making Tax Digital for VAT is part […]

Don\’t forget to declare COVID-19 grants
January 6th, 2022

HMRC have issued the following guidance to taxpayers who may have received COVID-19 grants during the 2020-21 tax year. “If you claimed Self-Employment Income Support Scheme (SEISS) or received Coronavirus Job Retention Scheme grants, you’ll need to include details of all the taxable coronavirus support scheme payments you received during the 2020 to 2021 tax […]

Will your earnings exceed any of these amounts in 2021-22?
January 5th, 2022

£100,000 – Loss of income tax personal allowance Your income tax personal allowance – £12,570 for 2021-22 – will be reduced by £1 for every £2 your adjusted net income exceeds £100,000. If your projected earnings for the current tax year are expected to be in excess of £100,000, perhaps for the first time, you […]

Tax Diary January/February 2022
January 4th, 2022

1 January 2022 – Due date for Corporation Tax due for the year ended 31 March 2021. 19 January 2022 – PAYE and NIC deductions due for month ended 5 January 2022. (If you pay your tax electronically the due date is 22 January 2022). 19 January 2022 – Filing deadline for the CIS300 monthly […]

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