blogs
Blogs
Business Support and Grant
The Local Restrictions Support Grants (LRSG) Businesses in the hospitality, tourism and leisure sector who have been required to close from 5 January 2021 onwards, or between 5 November and 2 December 2020, may be eligible for a cash grant for each period of national...
National Minimum Wage changes from 1 April 2021
You must pay employees at least the statutory minimum wage, either the National Living Wage (NLW) or the National Minimum Wage (NMW), depending on the employee’s age. From 1 April 2021, the age threshold for payment of the NLW is lowered and the rates of the NLW and...
Domestic VAT reverse charge for building and construction services
The domestic VAT reverse charge for building and construction services finally comes into effect on 1 March 2021. The start date was originally 1 October 2019, but it was postponed by one year until 1 October 2020 to allow those affected more time to prepare. The...
Budget 2021 Highlights
Here are key highlights from the 2021 Budget announcement by the Chancellor Income Tax thresholds freeze after April. The tax-free personal allowance will rise from £12,500 to £12,570 in April 2021 and remain frozen until April 2026. The higher-rate tax threshold will...
Furloughing staff unable to work due to school closures
The Coronavirus Job Retention Scheme (CJRS) provides grant support to enable employers to continue to pay staff who are fully or flexibly furloughed. The scheme can be used for staff who have been furloughed because they have caring responsibilities. School closures...
File your tax return by 28 February
The normal deadline for filing the 2019/20 tax return is 31 January 2021. However, HMRC announced in a press release issued on 25 January 2021 that they would not issue a late filing penalty as long as the 2019/20 tax return is filed online by 28 February 2021....
New COVID-19 grants for closed businesses
England went into the third national lockdown on 5 January 2021. To help business affected, the Chancellor unveiled a £4.6 billion package to help businesses forced to close. The grants are in addition to the monthly support payments previously announced. Cash grant...
P11D and P11D(b) Filing and Payment Deadlines
You need to tell HM Revenue & Customs about any Class 1A National Insurance contributions (NICs) that you owe for the tax year ending 5 April 2019 and send any P11D forms by 6 July. Failure to do so may result in a penalty. Any Class 1A National Insurance you owe...
File your tax return by 28 February
The normal deadline for filing the 2019/20 tax return is 31 January 2021. However, HMRC announced in a press release issued on 25 January 2021 that they would not issue a late filing penalty as long as the 2019/20 tax return is filed online by 28 February 2021....
SEISS grant 5
Claims for the fifth grant under the Self-Employment Income Support Scheme (SEISS) opened from late July and cover the period from May 2021 to September 2021. However, unlike previous grants, the amount of this grant will depend on the extent to which you suffered a...
Recovery Loan Scheme
The Recovery Loan Scheme is designed to provide access to finance in order to support businesses as they recover from the disruption caused by the COVID-19 pandemic. Although, as the borrower, you will remain liable for 100% of the debt, to encourage lenders to...