January concessions

by | Jan 6, 2022

HMRC has announced that where 2021 tax returns are filed before the end of February 2021, no £100 late filing penalty will be charged. Late-paid tax is still subject to interest – the current rate is 2.75% per annum. However no extra late payment penalties will be...

Autumn 2021 Budget

by | Oct 27, 2021

With more leaks than a rusty colander, there was little ‘news’ about tax specifics in today’s Budget speech. Anyone expecting significant tax rises to be rolled out may have been surprised that there was no ‘windfall’ wealth tax, nor...

Self employed grant 5

by | Aug 4, 2021

SEISS 5 is now open to claims until 30 September. Claimants must have a continuing self employment (or intending to continue as soon as possible), must have traded during the years to 5 April 2020 and 2021, and must have submitted their 5 April 2020 tax return by 2...

Self employed grant 4

by | Apr 12, 2021

The next SEISS taxable grant, the fourth offered, may be claimed later in April. Eligibility based on tax-return figures can be checked here https://www.gov.uk/guidance/return-to-your-claim-for-the-self-employment-income-support-scheme  I am suggesting that clients...

The Fiscal Drag King Has Spoken

by | Mar 3, 2021

Budget speech 2021. There was always going to be an announcement of further financial help for some taxpayers. And there was clearly going to have to be some extra tax found from somewhere. Detail will follow, but my first observations are these. The following...