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Tax Diary August/September 2021

1 August 2021 - Due date for Corporation Tax due for the year ended 31 October 2020. 19 August 2021 ...
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Reforming statutory sick pay

Following its summer 2019 consultation entitled “Health is everyone’s business: proposals for reducing ill health-related job loss”, the government has ...
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Continuous employment defined

When a new employee is added to the payroll it is the employers' responsibility to ensure they meet the employees’ ...
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Who counts as CIS contractor or sub-contractor?

The Construction Industry Scheme (CIS) is a set of special rules that affect tax and National Insurance for those working ...
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Turnover defined for 5th SEISS grant

HMRC has published new guidance to help the self-employed calculate their turnover for making a claim under the 5th Self-Employment ...
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Who pays Inheritance Tax?

Inheritance Tax (IHT) is commonly collected on a person’s estate when they die but can also be payable during a ...
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Tax-free gains on gifts to spouse or charity

In most cases, there is no Capital Gains Tax (CGT) to be paid on the transfer of assets to a ...
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SEISS – more red tape

Government support to the self-employed through the Self-Employment Income Support Scheme (SEISS) is due to end on 30 September 2021 ...
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Rent-a-room: letting as office accommodation

The rent-a-room scheme is a set of special rules designed to help homeowners who rent-a-room in their home. The current ...
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Income excluded from a property business

HMRC publishes a list of income streams that are excluded from a UK property business. The list includes fishing concerns, ...
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Inheritance Tax Business Relief

There are a number of reliefs available that can reduce liability to IHT if you inherit the estate of someone ...
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New COVID-19 vaccination guidance for employers

Public Health England has published a new guide for employers on COVID-19 vaccination. The guide encourages employers to support the ...
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Updated working safely guidance to apply from 19 July 2021

With England having moved to step 4 of the roadmap out of lockdown from 19 July 2021, the government has ...
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Taxis: what is liable to VAT

HMRC sets out specific guidance regarding the application of VAT if you are in the taxi and private hire car ...
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Tax if you divorce or separate

If you are a couple that is getting separated or divorced, apart from the emotional stress, there are also tax ...
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National Minimum Wage reminder for summer staff

We would like to remind any students and seasonal staff that work part time, for example in a summer job, ...
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Card security update

VISA have issued information regarding changes to card processing security from September 2021. The idea is to reduce online fraud ...
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IHT – settled and excluded property

A trust is an obligation that binds a trustee, an individual or a company, to deal with the assets such ...
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Associated company rules

As announced in the Budget earlier this year there will be two rates of Corporation Tax from 1 April 2023 ...
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OTS – making better use of third party data

The Office of Tax Simplification (OTS) was established in July 2010, to provide advice to the Chancellor on simplifying the ...
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Current Capital Gains Tax rates

Capital Gains Tax (CGT) is normally charged at a simple flat rate of 20% and this applies to most chargeable ...
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VAT – what you can and cannot reclaim

For most fully taxable businesses, VAT can be reclaimed on goods and services used in the business. This means that ...
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Stage 4 COVID roadmap implemented 19th July

The Prime Minister, Boris Johnson, spoke to the nation and confirmed that the vaccines have significantly weakened the link between ...
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CGT on second property sales – 30 day rule

The Capital Gains Tax (CGT) reporting and payment date for UK residents that sell a residential property changed with effect ...
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