This is the time of year when key tax deadlines start to loom large. Miss these, and the result is almost certainly heavy penalties. These dates apply for the tax year 2020/21, which ended on April 5th this year. You can read about deadlines and penalties here. 5th October 2021 – register for self-assessment Is […]
Find out moreThis article will be of interest to business owners looking to buy a UK commercial property. Its aim is to give you a brief introduction to the key points to consider about whether to buy a property: outright (freehold); as a long leaseholder; or to rent a property as a short leaseholder. Freehold vs Leasehold […]
Find out moreProposed increases in National Insurance and Dividend Tax Yesterday (7/9/21) the UK Government announced its plans for a 1.25 percentage point increase in National Insurance Contributions (normally considered as a tax to fund pensions) and Income tax on dividends. The aim of the increases are to raise about £36 billion over three years, which is […]
Find out moreAs part of the measures to support the economy during the COVID 19 pandemic, the Chancellor of the Exchequer introduced a Stamp Duty Holiday. This effectively suspended or reduced (depending on the value of the house purchase) Stamp Duty on house purchases. The holiday began on July 8th 2020, and is due to end on […]
Find out moreThere’s no better time to set up a business in the UK. The UK’s exit from the EU, combined with an expected post-pandemic lift to the economy, makes business in Britain an attractive proposition. However, there’s a more concrete reason why opening up in the UK deserves strong consideration. Corporation Tax (tax on company profits): […]
Find out moreOverview If you are resident in the UK and you get foreign income or capital gains you must declare them on your UK tax return. This applies even if you never bring the income or gain into the UK. Penalties can be up to 200% of unpaid tax and HMRC can ask you to go […]
Find out moreOverview If you are late in paying your income tax payment on account, due 31/07/2021 – don’t worry. There’s no penalty or fine – instead, normally, HMRC only charge you interest at 2.6%. Tax returns for individuals If your reading this, its probably because you have completed your tax return and your 31st July Income […]
Find out moreOverview Many people with have received a “tax credit renewal pack” which needs to be completed by 31 July 2021. If you have received this pack you may find this note interesting. When to renew tax credit If you are waiting for tax credits, you will have received a renewal pack, where you’ll find all information […]
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