TAX DEADLINE – 31 JANUARY 2021
The most pressing tax deadline for now is the main filing and payment deadline, of 31 January.
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Redundancy pay
Most businesses have had a very difficult year due to the pandemic. Unfortunately, some have had to make major changes including letting staff go and restructuring their businesses resulting in redundancies. Making staff redundant is hard for any small business as employees can become as close as family.
Changes afoot for Capital Gains Tax?
In July 2020 the Chancellor of the Exchequer asked the Office of Tax Simplification (“OTS”) to carry out a wide-ranging review of Capital Gains Tax (CGT). The OTS has made a number of significant recommendations. Many of the recommendations are not new and many of them seem to involve reintroducing concepts in CGT that have…
Report your sale in 30 days
A new online system for paying and declaring CGT within 30 days of completion for sales of residential property was introduced from 6 April 2020. CGT online applies to all sales of UK homes where exchange and completion occurred after 5 April 2020. Sellers who are not tax-resident in the UK must report all UK…
SDLT holiday, time to invest in property?
One of the key measures announced by the Chancellor in July was the reduction in Stamp Duty Land Tax (SDLT) on residential property. The purpose of the reduction is to boost the housing market and support the construction industry.
Annual Functions for Employees
With Coronavirus restrictions in place throughout the country, this year a number of business will be unable to offer their normal staff Christmas party. Are businesses able to utilise the £150.00 exemption at another point in the year?
Covid-19: Lockdown II Update
It is almost certain as a reader of this blog you will have made some further changes to your daily routine as we head into our second national lock-down which is scheduled to end 2nd December – although this may be extended dependent on the situation at the time. Pubs, restaurants, gyms, non-essential shops and places…
Job Support Scheme or Job Retention Scheme?
As the nation has entered a second national lock-down, the Government has introduced further support packages and amended existing schemes. Amongst the changes include changes to the Job Retention Scheme (furlough scheme) which was due to end on 31st October. The close proximity of the announcement and the original end date of the JRS has caused…