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Simplified expenses motor vehicles

There are simplified arrangements in place for the self-employed (and some partnerships) to claim a
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Tax returns filing deadline is fast approaching

The approaching deadline for submitting 2019-20 Self-Assessment tax returns online is 23:59 on
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Tax when you sell shares

Capital Gains Tax (CGT) is normally charged at a simple flat rate of 20% when you sell shares
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Online tax payment plans

New figures published by HMRC have revealed that some 25,000 taxpayers have set up an online
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Government help for people in debt

New government proposals have been published that look at further extending debt solutions to help
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Government tackles late payment to small firms

The Government has announced an overhaul of the Prompt Payment Code (PPC). Under the new reforms,
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Rights to regenerate

We will soon have the rights to turn derelict buildings into homes and community assets. In a
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CJRS guidance on who can be furloughed

HMRC’s guidance on which employees can be placed on furlough using the Coronavirus Job Retention
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Rogue employers named and shamed for failing to pay minimum wage

139 employers, including some of the UK’s biggest household names, have been named and shamed in a
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Apply for the new Global Health Insurance Card

UK residents can now apply for the new UK Global Health Insurance Card (GHIC). Under Britain’s new
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Testing for international arrivals

Passengers arriving from all international destinations will be required to present a negative
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Did you file your tax return on Christmas Day?

A new press release by HMRC has highlighted that 2,700 taxpayers took the time to file their tax
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£4.6 billion lockdown grants announced

Following a rapid rise in COVID infections, from today 5th January 2021, England has been placed
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Time to revisit solvency

If you have managed to retain profits in your business this fat-on-the-bone will help to see you
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Lock-down 3 – business considerations

It’s official. We are in lock-down 3 in England, Scotland following suit and the other regions
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Outcome of EU trade negotiations

Despite many expectations to the contrary, the Prime Minister, Boris Johnson announced on Christmas
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Internal Market Bill becomes law

The UK Internal Market Act 2020 received Royal Assent on 17 December 2020 and came into force on 1
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Child Trust Fund court fees waived

Children born after 31 August 2002 and before 3 January 2011 were entitled to a Child Trust Fund
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Help to Save bonuses

The Help to Save scheme was launched by the government in September 2018 to help those on low
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Happy New Year

There really hasn’t been much to feel merry about during the recent holiday period. Lock-down and
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More Red-Tape

True to predictions, Boris Johnson and his team achieved a trade deal with the EU to operate from 1
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New regulations to exempt payments made to employees for coronavirus antigen tests from NICs

The Social Security Contributions (Disregarded Payments) (Coronavirus) (No. 2) Regulations 2020
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Tax Diary January/February 2021

1 January 2021 - Due date for Corporation Tax due for the year ended 31 March 2020. 19 January
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Furlough extended to end April 2021

During an announcement to Parliament today, 17 December 2020, the Chancellor confirmed the
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Sharing costs

Independence is a cultivated concern. We all want to be self-sufficient. In a business environment
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Too good to be true?

Right now, any reference to a return to 2019 trading conditions seems to echo the title of this
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Consultations to crack down on fraud announced

The government has unveiled three new consultations to help combat fraud by reforming the UK’s
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Tax-free gifts for Christmas

After a very difficult 2020, the traditional Christmas break is almost with us. If you are an
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Are you ready to make customs declarations?

HMRC has written to VAT registered businesses across the country to remind them to be prepared for
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Accounting for import VAT on your VAT return

From 1 January 2021, businesses will be able to account for import VAT on imports into Great
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SMP, SAP, SSP, ShPP, SPBP and SSP to rise from April 2021

According to proposals set out in a government policy paper, the revised rates for statutory
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HMRC crackdown on avoidance schemes

HMRC and the Advertising Standards Authority (ASA) have come together to jointly target misleading
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New Christmas grant for pubs

The Prime Minister, Boris Johnson, has announced an additional one-off £1,000 Christmas grant for
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Could the Trader Support Service help your business?

The new Trader Support Service has been designed to help businesses moving goods under the Northern
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VAT on delivery charges

The process for working out the VAT treatment of delivery charges can be quite complex. We have
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Do you owe CGT on the sale of a residential property?

HMRC has issued a press release to remind taxpayers that have sold a residential property, which
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Double entry demystified

Most business owners will know the difference between a profit statement and a balance sheet. Both
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Beware requests from bogus charities

It has been estimated that almost £350,000 of charitable donations last year ended up in the
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Deadlines for paying deferred VAT

The coronavirus VAT payment holiday gave businesses the chance to defer the payment of any VAT
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EU exit – did you read this letter?

The Secretary of State for Business, Energy and Industrial Strategy, Alok Sharma has written a
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Confirmation of Minimum Wage increases 2021

The Chancellor used the recent Spending Review to confirm that increased National Minimum Wage and
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Pay January tax by instalments

The deadline for submitting your 2019-20 Self-Assessment tax returns online is 31 January 2021. You
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HMRC’s Annual Tax Summary

The Annual Tax Summary is a document provided by HMRC that provides details on the tax you pay and
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Coping with the new EU reality

It is apparent that our final exit from the EU, 1 January 2021, will disrupt the movement of goods,
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Supply chains, a predictive approach for 2021

One of the more positive aspects - perhaps the only positive aspect - of COVID disruption has been
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Spending Review 2021/22

The Chancellor, Rishi Sunak delivered the government's spending plans for the coming year to
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MTD for Corporation Tax consultation

HMRC has issued a new consultation to examine how the principles established for Making Tax Digital
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Register for Northern Ireland Trader Support Service

The Northern Ireland Trader Support Service was launched on 28 September 2020 to support businesses
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Beware tax deadline scammers

Fraudsters are continuing to target taxpayers with scam emails in advance of the 31 January
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Reasonable excuses for making a late furlough claim

HMRC’s guidance on making claims through the Coronavirus Job Retention Scheme was updated on 19
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Tax Diary December 2020/January 2021

1 December 2020 - Due date for Corporation Tax payable for the year ended 28 February 2020. 19
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Trading with businesses in Northern Ireland?

More than 7,000 businesses have now signed up to the new Trader Support Service (TSS), which will
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Why compound interest is important

Many of us are building a pension fund, a portfolio of shares or deposits with our bank or building
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Immigration Act receives Royal Assent

The Immigration and Social Security Co-ordination (EU Withdrawal) Act 2020 received Royal Assent on
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Those who shout loudest

Many of the business disruption grants that have become available in the last few weeks are being
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Do you need a customs agent?

If your business acquires goods or sells goods to the EU, and you have no import/export trade with
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Business Asset Disposal Relief

Business Asset Disposal Relief used to be known as Entrepreneurs’ Relief before 6 April 2020. The
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Holiday entitlements if furloughed

The Coronavirus Job Retention Scheme (CJRS) commonly known as the furlough scheme is open to all UK
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Further support for mortgage borrowers

The Financial Conduct Authority (FCA) has announced new proposals to ensure that lenders provide
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Protection for landlords and tenants

The government guidance for landlords and tenants as a result of the coronavirus pandemic has been
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Coding out debts deadline

The coding threshold entitles tax payers to have tax underpayments collected via a tax code,
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Shielding guidance for the clinically extremely vulnerable

Shielding for clinically extremely vulnerable people was paused in England on 31 July 2020.
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UK and London Living Wages increase

The Living Wage Foundation has announced that its UK Living Wage has risen by 20p per hour from
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Getting the most out of digital data

One of the great benefits of data stored in an electronic format is that it can be sorted in an
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Barter your way through COVID disruption

While we wait for the magic-bullets that promise to reduce the impact of COVID - vaccines etc -
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Online sales platform

If you sell goods or material that can be sold from the internet, have you considered this form of
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Uncertainty

While politicians and scientists try and figure out the best way to control COVID, we are left to
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Contributions towards capital expenditure

A wide variety of grants or subsidies are available to businesses and can be received in addition
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Tax-free perk for Christmas

If you are an employer and looking to give a small Christmas bonus to your employees, then your
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Responding to a court judgement

In today’s precarious business environment many companies are unable to pay their debts. If this
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Taxable business gains

If you are in business as a self-employed sole trader or as part of a partnership, there may be
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Less than 100 days to file your tax return

HMRC has published a news release to remind taxpayers that there is now less than 100 days to file
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New national lockdown and changes to business support measures

The Prime Minister, Boris Johnson speaking at a press conference on Saturday night, 31 October
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JSS – financial impact test for large employers

The Job Support Scheme (JSS) Open is available from 1 November 2020 for businesses that remain open
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Carry back charitable donations

If you pay Income Tax at the basic rate no additional relief is due on your charitable donations.
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Venues required to enforce rule of six

Since 18 September 2020, many designated venues in England have been required to enforce the rule
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Job Support Scheme for closed businesses

The CJRS or furlough scheme ended on 31 October 2020 and has been replaced by the Job Support
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Temporary extension to the Help to Buy scheme

The Help to Buy equity loans scheme is open to both first-time buyers and home movers on new-build
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Clock ticking on the Annual Investment Allowance

The Annual Investment Allowance (AIA) allows for a 100% tax deduction on qualifying expenditure on
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Brexit countdown exporters

The Brexit transition period is due to end on 31 December 2020 and this means that the process for
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Brexit countdown importers

As we have reported previously, the UK government has confirmed that it will neither accept nor
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Closing a limited company

There are a number of reasons why you may decide to close your limited company. This could be
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New cashback scheme proposed

The government has announced plans to allow customers to get cashback from shops without needing to
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Gaming behind the wheel?

Unbelievably, it has been illegal to make phone calls or text while driving a car, but not illegal
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Students warned of tax scams

HMRC is warning new students starting university that they could be targeted by scammers trying to
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New Freeports to cope with Brexit

The government is moving ahead with plans to build free trade zones - known as Freeports - across
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The don’ts of the new 3-tier system

The new 3-tier system for classifying local COVID alert status sets out what you should not do
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Levelling up or levelling down?

Our government has introduced a three-tier system for determining the local state of COVID
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Job Support Scheme Expansion

On Friday 9 October, the Chancellor, Rishi Sunak announced an extension to the Job Support Scheme
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Claiming the Job Retention Bonus

New guidance has been published on claiming the Job Retention Bonus. The Job Retention Bonus
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Paying or refunding transport costs

To ease the financial burden on their employees, some employers may look at paying or refunding
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COVID related benefits for employees

The Income Tax treatment of coronavirus tests and the provision of Personal Protective Equipment
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Grants overclaimed?

Any business that has overclaimed a Coronavirus Job Retention Scheme (CJRS) grant must pay back the
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31 October paper Self-Assessment filing deadline

The 2019-20 tax return deadline for submitting your paper Self-Assessment returns is 31 October
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Extended deadline for VAT payments

The coronavirus VAT payment holiday gave businesses the chance to defer the payment of any VAT
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PAYE settlement agreement payment reminder

A PAYE Settlement Agreement (PSA) allows employers to make one annual payment to cover all the tax
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Employer eligibility for Job Support Scheme

Employers across the country have generally welcomed the announcement of the new Job Support Scheme
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Employee eligibility for Job Support Scheme

The new Job Support Scheme will be introduced on 1 November 2020 as part of the government drive to
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100 towns to share £80m

The Communities Secretary, Robert Jenrick, has announced that over 100 towns in England will each
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