The deadline for reporting any Expenses and Benefits in Kind is 6 July 2020. Your client needs to do this for every employee they’ve provided with expenses or benefits. If your report is late, your client’s employees could end up paying the wrong tax and be out of pocket. If you’re an Authorised Agent registered
New rules have come into force that mean property owners must pay Capital Gains Tax (CGT) much faster than they have been used to. As of Monday 6 April 2020, property owners must inform HMRC of any CGT liabilities using an online service and pay amounts due within 30 days of selling the property. Previously
Dear Tax payer, After the last annual calculations of your fiscal activity we have determined that you are eligible to receive a tax refund up to 355.05 £. To receive your tax refund please click on the next link: LINK REMOVED A refund can be delayed for a variety of reasons. For example, for submitting
Online COVID-19: support for businesses Guidance for employers and businesses on coronavirus (COVID-19) COVID-19: guidance for employees All businesses and self-employed people in financial distress, and with outstanding tax liabilities, may be eligible to receive support with their tax affairs through HMRC’s Time To Pay service. These arrangements are agreed on a case-by-case basis and
We have previously advised you that from 6 April 2020, UK residents must report and pay any Capital Gains Tax (CGT) due on gains on the disposal of a UK residential property to HMRC within 30 days of completion of the disposal. Non-UK residents must also report any disposals of UK property or land and
HMRCs are continuing to follow government advice and are regularly reviewing their processes to make sure they are supporting customers. If your clients are concerned about being able to pay their loan charge or disguised remuneration settlement because of COVID-19, or any other reason, we can agree instalment arrangements with them. We agree these on
The online claim service will be launched on GOV.UK on Monday 20th April. How to make a claim The only way to make a claim is online at www.GOV.UK. Who can you claim for? You can claim for employees that were employed as of 19 March 2020 and were on your PAYE payroll on or before that date; this means that
If you are “normally” self-employed but are unable to work due to covid-19 you can take a temporary job AND still claim the self-employed grant as long as you meet all the conditions below; Please note this does NOT apply to directors who have furlonged themselves. Guidance on gov.uk states: Who can apply You can
Find out what funding options are available to help your firm get through this crisis Friday 17th April 2020 14:00 hours BST Register With the lockdown set to continue access to funding will still be the number one challenge for firms across the UK. To help Worldpay customers put in place the funding they
Tax authority should make its flexibility over loan charge payments ‘clear to worried taxpayers’ Source – Accountancy Today By signing up for our newsletter you agree that we can send you our news briefings and that we may send you promotions on behalf of our partners from time to time. We promise to not use
Victoria Todd gives a brief outline of how Universal Credit works particularly for self-employed people who need to make a claim. 7th Apr 2020 – Source Accounting Web The current coronavirus situation means that some self-employed individuals have seen a significant fall in income with many unable to work at all at the present time.
HMRC has announced that the web portal for handling Coronavirus Job Retention Scheme claims will go live on April 20. Under the scheme Government will cover 80% of the salaries of ‘furloughed’ workers, up to a total of £2,500 a month (further details). Above all, HMRC wants to spread the word that claims should not
COVID-19 guidance on GOV.UK All HMRC COVID 19 guidance is included on GOV.UK as part of the Government’s response to COVID 19 at https://www.gov.uk/coronavirus Specific guidance for businesses and employers is at: https://www.gov.uk/government/publications/guidance-to-employers-and-businesses-about-covid-19 Digital links We’re providing MTD businesses with more time to put in place digital links between all parts of their functional compatible software. It is important for businesses to note that despite this
Source – Sixforward These documents have been updated as at 09 April 2020 (in-line with the Chancellor’s latest announcements) to make sure that we’re providing you with the most relevant and up-to-date information. DOWNLOAD: COVID-19 Financial Flowchart (v.3) DOWNLOAD: Other Sources of Support Available The latest updates include: Details of the Business Support Helpline for England,
Source: Alison Walsh, 6 April 2020 – HMRC Changes to the off-payroll working rules will now apply from 6 April 2021 and not 6 April 2020 as previously planned. This is a deferral of the reform and not a cancellation. This blog contains some important information your organisation needs to know as a result of the delay. Please
Source: Rebecca Cave Tax Writer Taxwriter Ltd 2nd Apr 2020 HMRC will pay a taxable grant to self-employed individuals and partners equivalent to 80% of their average trading profits for three months, capped at £2,500 per month. Who gets what? It is difficult for HMRC to determine how much self-employed individuals earn in real time, in
Some of the rates and bands have been frozen, while others have increased. Here are the rates and bands that will come into effect on 6th April: England, Northern Ireland and Wales 2020/21 2019/20 Personal allowance £12,500 £12,500 Employee’s NI becomes due at £9,500 £8,632 Employer’s NI becomes due at £8,788 £8,632 Higher rate tax
At the Budget 2020 the Chancellor announced details about a new coronavirus (COVID-19) Statutory Sick Pay Rebate Scheme. This scheme will allow small and medium sized employers, with fewer than 250 employees, to apply to HMRC to recover the costs of paying Statutory Sick Pay to their employees. Today HMRC has published new online guidance
The chancellor is extending the coronavirus loan scheme for small and medium businesses who have been affected by the disease. The government’s Covid Business Interruption Loan, a funding package, was originally created for firms who were unable to secure regular commercial financing during the economic downturn of the virus. But now Rishi Sunak has extended
The following measures have been introduced to support small businesses. See the full details of who’s eligible and how to access support on the UK Government’s website. (control click will open the links) Coronavirus Job Retention Scheme all UK employers with a PAYE scheme will be able to access support to continue paying part of their employees’
Please be aware there are a lot of scam emails and texts doing the rounds. Please do not click the link. “HMRC have determined that you are eligible to receive a tax refund of 228.37 GBP – Click here to begin – //hm.rc-3verify.com” DO NOT CLICK ON THE LINK
27 Mar 2020 Source – AJC Admin Coronavirus (COVID-19) Self-employment Income Support Scheme – Explained To all my fellow self-employed comrades out there, I totally appreciate that all of this information the government is providing about their new self-employment support scheme is becoming increasingly confusing for many people and so I wanted to just outline
More guidance has been published on the coronavirus job retention scheme (CJRS), although there are still some grey areas. Kate Upcraft summarises what we know so far. 30th Mar 2020 Source Accounting Web Who can claim? All employers can benefit from the scheme, even owner-managed businesses. The government wants the support to be as inclusive as possible.
Source: AAT The Government has launched a ground-breaking scheme to help self-employed people remain solvent through the worst of the coronavirus (Covid-19) crisis. The Self-Employed Income Support scheme will pay a direct cash grant of 80% of their profits, up to £2,500 per month. But payments won’t be made before June. And those who turned self-employed recently
The Coronavirus Job Retention Scheme is a temporary scheme open to all UK employers for at least three months starting from 1 March 2020. It is designed to support employers whose operations have been severely affected by coronavirus (COVID-19). Employers can use a portal to claim for 80% of furloughed employees’ (employees on a leave