by David Winfield | Jan 27, 2021 | Accounting News, Uncategorized
HMRC has today announced that self-assessment taxpayers will not receive a late filing penalty. What does this mean? The initial late filing penalty of £100 will not be charged, as long as the tax return is filed online by 28 February 2021. Taxpayers still need to pay...
by David Winfield | Jan 11, 2021 | Accounting News, Uncategorized
Many businesses have closed because of the pandemic despite government coronavirus grants. Special tax rules apply to these payments if they are received after a business stops trading. What do business owners need to know? Support payments A sole trader, partner or...
by David Winfield | Jan 4, 2021 | Accounting News
New rules will apply from April 2021 to make the Construction Industry Scheme (CIS) tougher. As a contractor or subcontractor in the industry what do you need to know? Tax changes. 2021 is shaping up to be a tough year for the construction industry. In addition to the...
by David Winfield | Dec 8, 2020 | Accounting News
A colleague told you that a recent ruling by a Tribunal means that you might be entitled to claim a tax deduction for your gym membership. This contradicts HMRC’s long-standing guidance. Who is right? Wholly and exclusively tax deductions You probably know that tax...
by David Winfield | Sep 28, 2020 | Accounting News, Uncategorized
Problems with HMRC’s NI system are impacting employers who are receiving incorrect demands. What’s the issue and how should you respond if you receive a bill from HMRC? EA problem factors. Changes to the employment allowance (EA) rules and other factors seem to have...
