The Government are pulling the plug on support to employers for furloughed staff at the end of September as they anticipate that the economy will be back to normal by October. The grant claims for employees furloughed in the month of September are 60% of the employee’s usual pay up to a maximum cap of […]
The temporary 5% VAT rate that has applied to supplies made in the tourism and hospitality sector since the start of the pandemic comes to an end at the end of September. The rate then increases to 12.5% from 1 October until 31 March 2022 when it reverts to the standard rate. For those businesses […]
Last month we mentioned that draft legislation has been published to change the basis periods for the assessment of self-employed profits to coincide with the tax year. The proposed new rules provide that from 2023/24 onwards profits or losses will be apportioned to tax years where the period of account does not coincide with the […]
HMRC have recently updated their guidance on accounting for VAT on goods imported from outside the UK which, since Brexit, includes the European Union. Businesses registered for VAT in the UK can account for import VAT on their VAT Return for goods imported into: Great Britain (England, Scotland and Wales) from anywhere outside the UK […]
If you are notifying HMRC of a decision to opt to tax land and buildings, you are normally required to notify HMRC within 30 days. The 30 day deadline was temporarily extended to 90 days to help businesses and agents during the pandemic, but that temporary extension has now ended for decisions made from 1 […]
Date What’s Due 1 September Corporation tax for year to 30/11/20 unless pay by quarterly instalments 19 September PAYE & NIC deductions, and CIS return and tax, for month to 5/9/21 (due 22 September if you pay electronically) 1 October Corporation tax for year to 31/12/20 unless pay by quarterly instalments 5 October Deadline for […]
Newly released figures show that dividend payments in the UK jumped by 51 per cent in the three months to June this year, as businesses finally begin to reward shareholders for their investments and support. Link Group’s UK dividend monitor shows that dividends jumped to £25.7 billion on a quarter-on-quarter basis. Around 90 per cent […]
According to new analysis, the cheap cost of UK stocks, as a result of the pandemic will see the country experience an unprecedented recovery. This claim has been made by a new UK profit index from J O Hambro, which reports that UK equities are valued at “deep discounts” compared to other nations and historical […]
Around 12 per cent of UK homeowners are considering equity release as a means to supplement their retirement income, according to new research. The study by retirement specialists Canada Life found that the average age of those considering releasing equity from their home was around 66 years old – two years before state retirement age […]
Social media has been filled with various rumours about the COVID-19 vaccination – some more bizarre than others. However, a claim that receiving a COVID-19 vaccine could invalidate a life insurance policy has prompted the industry to come forward and clarify its position. Several people on social media have shared wild claims that their existing […]
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