The self-assessment tax return for 2019/20 must be filed by midnight on 31 January 2021. If you miss this deadline, you will automatically receive a late filing penalty of £100, regardless of whether you owe any tax, unless you are able to convince HMRC that you have a reasonable excuse for filing your tax return […]
What Tax Do I Need To Pay By 31 January 2021? Read More »
Repayment of student loans is a shared responsibility between the Student Loans Company (SLC) and HMRC. Employers have an obligation to deduct student loan repayments in certain circumstances and to account for such payments ‘in like manner as income tax payable under the Taxes Acts’. There are two plan types for student loan repayments, which
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A landlord running an incorporated business is likely to need to use their own car in property business. Where this is the case, what can they claim by way of expenses? Two options Costs incurred wholly and exclusively for business purposes can be deducted when working out the profits of a property business. When it
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Lockdown – Can Your Holiday Let Still Count As A FHL? Read More »
The Brexit transitional period comes to an end of 31 December 2020 and various changes come into effect from 1 January 2021. One of these changes is the introduction of postponed VAT accounting. This will affect you if you are a VAT-registered business and you import goods into the UK, particularly if you do not
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