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25th February 2021
As with Income Tax personal allowances, taxpayers have an annual exempt amount for Capital Gains Tax (CGT) which is forfeited if not used. The annual exemption for individuals in 2020-21 is £12,300. A husband and wife each have a separate exemption.
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25th February 2021
1 March 2021 - Due date for Corporation Tax due for the year ended 31 May 2020. 2 March 2021 - Self-assessment tax for 2019/20 paid after this date will incur a 5% surcharge. 19 March 2021 - PAYE and NIC deductions due for month ended 5 March 2021.
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25th February 2021
The Supreme Court has handed down a landmark judgement in the Uber case. The Supreme Court unanimously upheld the decisions of earlier courts and has found that Uber drivers are ‘workers’ and not self-employed as Uber has tried to argue. The
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25th February 2021
Businesses that use the flat rate scheme pay VAT as a fixed percentage of their VAT inclusive turnover. The VAT Agricultural Flat Rate Scheme is a variant of the flat rate scheme specifically designed for farmers and other activities relating to
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25th February 2021
We wanted to remind our readers of the Inheritance Tax (IHT) implications of making cash gifts during the current tax 2020-21 tax year that ends on 5 April 2021. You can give away up to £3,000 worth of gifts each tax year. This is known as your
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25th February 2021
Under the third Self-Employed Income Support Scheme (SEISS) grant, claimants received up to 80% of average trading profits for November and December 2020, and January 2021. This meant that a maximum grant for the three months of £7,500 was made
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