Self-employment and the £2,000 dividend allowance
All taxpayers, regardless of the rate at which they pay tax, are entitled to a tax-free allowance for dividends.
Time to pay
If you’re struggling to pay tax bills including capital gains tax and class 2 and 4 NICs for 2019/20 you can apply online to defer your payments, but care needs to be taken as to when to apply.
Legal v illegal dividends
Changed business conditions in light of the Coronavirus pandemic have caused many companies to review their dividend policies not least because the company's financial position may have deteriorated significantly from that shown in its last annual accounts.
Self Assessment Late Payment Penalties
HMRC has announced that Self Assessment customers will not be charged the initial 5% late payment penalty if they pay their tax or make a Time to Pay arrangement by 1 April.
Electric cars from April 2021
For 2020/21, it was possible to enjoy an electric company car as a tax-free benefit.
Are you trading?
Selling goods or clothes on sites such as eBay and Depop offers the opportunity to raise some much needed cash in these difficult times.
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
Repayment of student loans is a shared responsibility between the Student Loans Company (SLC) and HMRC.
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
The 2020/21 tax year comes to an end on 5 April 2021.