Sep 4, 2020 | Budget Statements, Covid-19, Tax
The next Budget is due Autumn 2020, late October or early November, although this may be postponed until Spring 2021 if we have a further spike in coronavirus infections. There has been the usual speculation that taxes will be increased in the forthcoming budget to... read more
Sep 1, 2020 | Covid-19, finance, Tax
The government recently announced an extension to the Self Employed Income Support Scheme (SEISS). The first grant covered a three month period to 13 July 2020. The second grant will cover the three months commencing 14 July 2020. Those eligible for the first quarter... read more
Sep 1, 2020 | finance, Tax
Director/shareholders have a unique position with their companies for tax purposes. Usually, they can decide when and how to withdraw funds from their business, but these withdrawals can have unforeseen tax effects. Salaries and dividends If amounts drawn are salaries... read more
Jan 29, 2020 | Self Assessment, Tax
As we’re approaching the end of the 2019/20 tax year, did you know that your self-employed business records need to be kept for 5 years after the 31st January 2021? Which means that you will have to continue to store your records (for the 2019/20 tax year) until the... read more
Dec 16, 2019 | finance, Self Assessment, Tax
We’re not wanting to dampen the Christmas cheer! But, the deadline for filing your Tax Returns is only weeks away! Make sure you don’t miss the deadline date of Friday, January 31, 2020 or you could be joining millions of others in the UK and incur an automatic fine... read more
Dec 12, 2019 | finance, Tax
As we enter the Christmas season, are you considering generous gifts for your loved ones? If so, we take a look at the implications for Inheritance Tax. With an eye to 2020, we’re also only weeks away from the deadline for filing your Tax Return. Gifts &... read more