Budget 2021 Extension to the Coronavirus Job Retention Scheme The Coronavirus Job Retention Scheme (CJRS) has been extended until the end of September 2021. The UK Government will continue to pay 80% of employees’ usual wages for the hours not worked, up to a cap of £2,500 per month, up to the end of June […]
Extension of the Self-Employed Income Support Scheme The SEISS provides self-employed people whose business and income had been affected by the pandemic to claim money in the form of a grant from the Government. How to apply The fourth SEISS grant covering February, March and April 2021will be available to claim the Government website. Sole traders […]
HMRC has announced that Self Assessment tax payers 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. HMRC is allowing taxpayers more time to pay or set up a payment plan. Payment plans or payments in full must be […]
VAT deferral new payment scheme – open from 23rd February Any businesses that deferred paying VAT due in the period from 20 March to 30 June 2020 and can’t afford to pay by 31 March 2021 may join the new VAT deferral payment scheme and pay their deferred VAT over a longer period. This online […]
If you deferred VAT payments due between 20 March and 30 June 2020 and still have payments to make, you can: pay the deferred VAT in full, on or before 31 March 2021 join the VAT deferral new payment scheme – the online service is open between 23 February and 21 June 2021 contact HMRC […]
Self Assessment customers who cannot file their tax return by the 31 January 2021 deadline will not receive a late filing penalty if they file online by 28 February. [button link=”https://www.gov.uk/government/news/no-self-assessment-late-filing-penalty-for-those-who-file-online-by-28-february” newwindow=”yes”] For more information click here[/button]
Extended SEISS Grant 25/11/2020 updated 30/11/2020 To check if you are eligible and can claim follow the link : [button link=”https://www.gov.uk/guidance/claim-a-grant-through-the-self-employment-income-support-scheme”] CLAIM 3rd SEISS Grant[/button] Please make sure that you check if you are eligible and can confirm the declaration. Full details of the third SEISS grant to support self-employed people affected by coronavirus (COVID-19) […]
What records to keep You’ll need to keep records of: all sales and income all business expenses VAT recordsif you’re registered for VAT PAYE recordsif you employ people records about your personal income your grant, if you claimed through the Self-Employment Income Support Schemebecause of coronavirus Why you keep records You do not need to send your records in when you […]