Tax Matters

HMRC Penalty changes

HMRC have announced that they will be introducing two new penalty regimes to encourage taxpayers to both file their returns and to pay their tax liability at the right time.

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Making Tax Digital for Income Tax and Self Assessment (“MTD for ITSA”) launches from April 2023

If you have trading income and/or gross rental income over £10k per year, please read on…

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Employment Status and off payroll working

new “off payroll” working rules came into force from 6 April 2021 and we are already seeing the impact on this as many companies address these new rules

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Update: Research and Development Tax Credit Relief - 1 April 2021

Research and Development Tax Credit Relief changes announced for implementation 1 April 2021 could impact your business be aware of these changes especially if you have claimed previously and will again in future.

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November 11 Updated Furlough Guidance

HMRC updated their detailed guidance with details of how to make furlough claims after 1 November 2020

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5 November Announcements

No real fireworks, but not a damp squib either, there were a raft of new announcements today.

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Extension to Coronavirus Job Retention Scheme

On Saturday 31 October the Prime Minister said the government’s Coronavirus Job Retention Scheme (CJRS) - also known as the Furlough scheme - will remain open until December, but returning to the August level of support with employees receiving 80% of their current salary for hours not worked, up to a maximum of £2,500.

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