Tax Diary December 2020/January 2021
1 December 2020 – Due date for Corporation Tax payable for the year ended 28 February 2020. 19 December 2020 – PAYE and NIC deductions due for month ended 5 December 2020. (If you pay your tax electronically the due date is 22 December 2020) 19 December 2020 – Filing deadline for the CIS300 monthly […]
Customs changes from 1 January 2021
Most smaller businesses will not have the resources to train and employ their own customs clearance staff in which case you may have to consider using a customs agent or broker. We have reproduced the advice on the GOV.UK website on this critical issue below. If you do import or export goods from and to […]
Trivial benefits are not so trivial
A reminder that It is possible to make small tax-free payments to employees, including directors, and this might be an appropriate time to make a small tax-free bonus in advance of the annual Christmas, New Year holidays. Employers and employees don’t have to pay tax on small benefits provided they comply with the following rules: […]
Self-Assessment filing deadline draws near
If you have still not submitted all of the information we need to complete your 2019-20 tax return, could we ask you to respond as soon as you can as the deadline is fast approaching – 31 January 2021. HMRC has made no announcement that this deadline will be extended. Accordingly, the initial £100 late […]
More on extended furlough scheme
Most employers who are eligible will be aware that the furlough scheme (the Coronavirus Job Retention Scheme) has been extended for five months – from 1 November 2020 to 31 March 2021. The general terms for the first quarter to 31 January 2021 are: Maximum claim per employee is 80% of hours not worked. Furlough […]
