Keeping pay and tax records
Following the 31 January 2021 deadline for submission of Self-Assessment tax returns for 2019-20, it can be a useful exercise to review the rules for keeping your pay and tax
Did you miss the Self-Assessment deadline?
HMRC has announced that more than 10.7 million people submitted their 2019-20 Self-Assessment tax returns by the 31 January deadline. This leaves over 1.8 million taxpayers that
Scottish Budget Statement 2021-22
Scotland’s Finance Secretary, Kate Forbes delivered her second Budget statement to the Scottish parliament on 28 January 2021. The date was selected to allow the Scottish
Claims to adjust payments on account
Self-Assessment taxpayers are usually required to pay their Income Tax liabilities in three instalments each year. The first two payments are due on:
31 January during the tax
No late online filing penalties until 28 February 2021
HMRC has announced that fines for taxpayers that file their Self-Assessment returns late will be waived until 28 February 2021. The filing deadline for 2019-20 returns remains at
Making good fuel provided for private motoring
Where an employee with a company car is provided with fuel for their own private use by their employer, the default position is that the employee is required to pay the car fuel
Drifting into the HICBC
The High Income Child Benefit Charge (HICBC) could apply to your clients if their income exceeds £50,000 for the first time this year and they are in receipt of child benefit. The
Online tax payment plans
New figures published by HMRC have revealed that some 25,000 taxpayers have set up an online payment plan to manage their tax liabilities spreading payments of £69 million for up
Tax returns filing deadline is fast approaching
The approaching deadline for submitting 2019-20 Self-Assessment tax returns online is 23:59 on Sunday, 31 January 2021. The filing deadline is not just the final date for
Simplified expenses motor vehicles
There are simplified arrangements in place for the self-employed (and some partnerships) to claim a fixed rate deduction for certain expenses where there is a mix of business and