Website development costs

One of the main areas to consider in deciding how to treat a deductible expense is whether the cost is ...
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Lockdown changes 12 April 2021

Even the unseasonably cold weather does not seem to have stopped people in England getting their first taste of normality ...
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Repaying overclaimed SEISS grants

Self-employed individuals (including partnerships) who have overclaimed the Self Employed Income Support Scheme (SEISS) must pay back the overpayment to ...
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Property repossessions from 1 April 2021

There have been a significant number of measures introduced to help those experiencing financial difficulties because of coronavirus. Throughout the ...
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One-off £500 payment for working households receiving tax-credits

As part of the March 2021 Budget, the Chancellor announced that the temporary £20 weekly uplift in Universal Credits would ...
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HMRC’s new penalty regime

HMRC’s new points-based penalty regime for late submission and payment will start from 1 April 2022. The changes will apply ...
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Annual party benefits

The cost of a staff party or other annual entertainment is generally allowed as a deduction for tax purposes. If ...
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Claims to reduce payments on account

Self-Assessment taxpayers are usually required to pay their Income Tax liabilities in three instalments each year. The first two payments ...
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Exempt beneficial loans

An employee can obtain a benefit when provided with an employment-related cheap or interest-free loan. The benefit is the difference ...
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Companies can claim super-deduction from 1 April

The new super-deduction tax break, that will allow companies to deduct 130% of the cost of any qualifying investment from ...
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National Minimum and Living Wage increases 1 April 2021

The new National Minimum Wage (NMW) and National Living Wage (NLW) rates came into effect on 1 April 2021. The ...
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Archiving international trade documents

There are important rules that all businesses must follow to keep business and accounting records accessible if requested by HMRC ...
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Updating Self-Assessment tax returns

There are special rules to follow if you have submitted a Self-Assessment return and subsequently realise you need to change ...
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Film and TV restart scheme

The government’s £500 million scheme to kickstart film and television production entitled the Film and TV Production Restart Scheme, helps ...
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OTS recommended changes to IHT

The Financial Secretary to the Treasury has written to the Office of Tax Simplification (OTS) to confirm that HM Treasury ...
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£1.5bn boost for rates relief

A new Business Rates relief fund will provide a £1.5 billion tranche of support to businesses outside the retail, hospitality, ...
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New support for High Streets and sea-side towns

As lockdown measures begin to be eased, a new package of support measures to help high streets and coastal areas ...
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5% late penalties apply from 1 April 2021

Self-Assessment taxpayers that failed to pay their outstanding tax liabilities or set up a payment plan by midnight on 1 ...
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Tax Diary March/April 2021

1 April 2021 - Due date for Corporation Tax due for the year ended 30 June 2020. 19 April 2021 ...
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Flat Rate Scheme limited cost trader check

The VAT Flat Rate Scheme has been designed to simplify the way a business accounts for VAT and in so ...
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Incorporation relief

When a taxpayer owns a business as a sole trader or in partnership, a capital gain will be deemed to ...
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