by David Winfield | Apr 19, 2021 | Accounting News, Uncategorized
Business rates. In England, owners of holiday accommodation are liable to business rates rather than council tax. This applies where the landlord intends to let the property on commercial terms for 140 days or more in the financial year. At first sight, this might not...
by David Winfield | Mar 29, 2021 | Accounting News, Uncategorized
Further grants . Before Budget 2021 the Chancellor had already announced third and fourth instalments of the Self-Employment Income Support Scheme (SEISS) payments for sole traders, and members of partnerships, whose income had been hit by the pandemic. The Budget...
by David Winfield | Mar 24, 2021 | Accounting News, Uncategorized
If you have control over the salary and dividends you receive from your company, this time of year is important for tax and NI planning. Especially this year if profits have been adversely affected by the pandemic. What factors should you consider for maximum tax...
by David Winfield | Feb 1, 2021 | Accounting News, Uncategorized
A Supreme Court ruling means that many traders who lost income because of coronavirus will receive a payout on their business interruption insurance policies. How and when should this be reported for tax purposes? Court ruling. On 18 January 2021 the Supreme Court...
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...
