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31 July Tax Payment – What happens if your late?

Overview  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 […]

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New Self-Employment Grant: the “Fifth Grant”

Overview  If you are a self-employed person or a member of a partnership and coronavirus has adversely impacted your business, you may be entitled to a new grant “the Fifth Grant”. In this note you will find more details regarding the so called Fifth Grant.  The Fifth Grant, for the self-employed and partners  In March 2020, with the advent of COVID-19 and […]

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Tax Credit – Renewal by 31 July

Overview  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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Job Retention Scheme ‘Furlough’ – changes from July

Purpose of note  In this note you can find information related to the new Job Retention Scheme rules ‘furlough rules’ that will be applied from 1 July 2021.  Furlough scheme  In March 2020, Chancellor Rishi Sunak introduced the Furlough Scheme, a subsidy aimed at helping companies forced to lay off employees because of COVID-19. In September 2020, the UK Government replaced the initial scheme with another scheme the Job Retention Scheme. This scheme […]

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P11D to submit – Expenses and benefits

Overview At the end of the tax year employers will usually need to submit a P11D form to HMRC. It has to be submitted for each employee they have provided with benefits or paid expenses.   What is the P11D form? The P11D is a form that employers must file to report benefits paid to their staff. It needs to be filed because […]

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Settled Status Scheme – 30 June is the deadline

What is the Settled Status? The Settled status is the right, for non-UK citizens, to live, work, and remain indefinitely in the UK without any immigration control. This is essential if you want to stay and work in the UK. You can also apply for the pre-settled status. The deadline to apply for both the Settled and Pre […]

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