• Changes to late filing penalty for 2019-20 Self Assessment returns.

    Changes to late filing penalty for 2019-20 Self Assessment returns

    HMRC has announced that Self Assessment customers will not receive a penalty for filing their 2019-20 tax return late, as long as they file online by 28‌‌ ‌February. 

  • Student loan repayments:  Increased thresholds from April 2021.

    Student loan repayments: Increased thresholds from April 2021

    Repayment of student loans is a shared responsibility between the Student Loans Company (SLC) and HMRC.     

  • Leaving the VAT Flat Rate Scheme.

    Leaving the VAT Flat Rate Scheme

    The VAT Flat rate scheme is a simplified scheme for smaller businesses. 

  • Make the most of the dividend allowance.

    Make the most of the dividend allowance

    The 2020/21 tax year comes to an end on 5 April 2021. 

  • What tax do I need to pay by 31 January 2021?

    What tax do I need to pay by 31 January 2021?

    The self-assessment tax return for 2019/20 must be filed by midnight on 31 January 2021.     

  • Make the most of your spare time.

    Make the most of your spare time

    In the current economic climate, many people are looking for ways to increase household income.     

  • Tax efficient remuneration using pension contributions.

    Tax efficient remuneration using pension contributions

    Despite on-going speculation that the government will intervene at some point, for now, making contributions into a pension scheme continues to be a particularly tax-efficient form of savings. 

  • Utilise the trivial benefits exemption to provide tax-free Xmas gifts.

    Utilise the trivial benefits exemption to provide tax-free Xmas gifts

    The Covid-19 pandemic has placed the office Christmas party firmly off the menu this year. 

  • Should I reduce my payments on account?

    Should I reduce my payments on account?

    The deadline for filing your 2019/20 tax return is fast approaching, as is the due date for the first payment on account for 2020/21.

  • Doing up properties – Are you trading?

    Doing up properties – Are you trading?

    There can be money to be made buying a property in a dilapidated state, renovating it, and selling it for a profit. 

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