We would like to remind students that work part time, for example in a summer job, that they are entitled to claim back any tax overpaid. Students (and other temporary workers) are not required to pay any Income Tax if their earnings are below the
HM Treasury has confirmed the extension of Making Tax Digital (MTD) to cover businesses with a turnover below the VAT threshold and for certain individuals who file Income Tax Self-Assessment tax returns. This announcement provides much-needed
The Eat Out to Help Out scheme to help encourage the struggling restaurant sector was announced as part of the Chancellor’s Summer Economic Update earlier this month. The scheme is designed to help restaurants recover from the effects of the
The Prime Minister, Boris Johnson, has announced the gradual reopening of indoor theatres and other live performance venues from 1 August 2020. The venues will need to follow strict social distancing measures and perform to a limited audience.
This
Friday 31 July 2020 is the deadline day for families and individuals that receive tax credits to tell HMRC about any changes to their financial circumstances. As in previous years, there is likely to be a huge last-minute rush and it may be difficult
HMRC has issued a press release to remind Self-Assessment taxpayers of the opportunity to defer Income Tax payments due on 31 July 2020. This opportunity is available to taxpayers due to make their second payment on account for the 2019-20 tax year
Practitioners may have noticed that the OTS has recently published an update on its thoughts for the update of Corporation Tax, the taxation of personal service companies and the self-employed.
The report is entitled:
Evaluation update and stock
There is a well-worn cliché that says that no news is good news i.e. that bad news actually travels faster than good news.
During the coronavirus period, we have been bombarded by proof that this is the case. Witness the very deliberate,
If you are self-employed, as a sole trader or in partnership, the profits from your business are treated as part of your income for Income Tax and self-employed National Insurance purposes. As a consequence, the amount of tax payable on your
High Street retailers will have watched with dismay as competitors take their market share – not by businesses in their local business community – but globally, as consumers in the UK switch their attention from shopping trips to online