As if there hasn’t been enough to keep track of from the government and HMRC over the last few months, they have now introduced changes into the way you declare any Capital Gains, reducing the time frame in which you must report and pay. Capital gains tax is a tax on the profit (or ‘dispose…
News & Blog
Making Tax Digital - Update
Making Tax Digital is something we have been hearing about for a while, but with Covid-19 throwing everything up in the air we have been left in limbo over how the pandemic has affected the roll out of the scheme. Well, this month we have been provided with a few more details about the roll…
Domestic VAT reverse charge on building and construction
Calling all companies in the construction industry! If you are in the construction industry, you need to be aware of changes to the domestic VAT reverse charge. From the 1st March 2021, the domestic VAT reverse charge must be used for most supplies of building and construction services. The charge applies to standard and…
Additional support for self-assessment clients
This year has been tricky at best and we are all aware of the looming January deadline from HMRC. But it looks like they are putting schemes in place to help support businesses. If you are due to submit your self-assessment for the 2019/20 tax year in January 2021, you can now apply for additional…
Covid update - Extended Furlough and SEISS
Following on from the announcements earlier in the week, The Chancellor has announced the extension of furlough (The Coronavirus Job Retention Scheme) until the end of March’ across the UK, although it is due for a review in January 2021. Whilst there are still plenty of details to follow next week, here’s what…