by MAS | Sep 10, 2020 | Business advice, Financial news, NIC
Property owners: Class 2 NICs Class 2 National Insurance Contributions (NICs) are currently paid at the rate of £3.05 per week by self-employed earners. A person who is liable to Income Tax on the profits arising from the receipt of property rental income will only be...
by MAS | Sep 9, 2020 | Business advice, Making Tax Digital, MTD, Self Assessment, VAT
MTD for VAT to be extended to all VAT registered businesses in 2022 Since 2019, the majority of VAT-registered businesses with a taxable turnover above the threshold (£85,000) have been mandated to keep digital VAT records and send returns using Making Tax Digital...
by MAS | Sep 8, 2020 | Coronavirus, Covid-19, HMRC, PAYE
The calculation of Coronavirus Job Retention Scheme grants has proven to be complex, particularly as HMRC frequently changed the rules. As a result, many errors have arisen. The latest Finance Act requires employers to notify HMRC within 90 days where it turns out...
by MAS | Sep 7, 2020 | Business advice, Coronavirus, Covid-19, Financial news, HMRC
In July, the government announced further help for small businesses by offering a £20 million grant fund to aid recovery. Grants of between £1,000 – £5,000 are to be given to businesses to allow them to access new technology/equipment as well as professional...
by MAS | Sep 7, 2020 | Business advice, CIS, Corporation Tax, HMRC, NIC, PAYE
Date What’s Due 1 September Corporation tax for year to 30/11/19 unless pay by quarterly instalments 19 September PAYE & NIC deductions, and CIS return and tax, for month to 5/9/20 (due 22 September if you pay electronically) 1 October Corporation tax for...
