HMRC is waiving late filing and late payment penalties for Self-Assessment taxpayers for one month – giving them extra time, if they need it, to complete their 2020-21 tax return and pay any tax due. HMRC is encouraging taxpayers to file and pay on time…
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Self-isolation for those with COVID-19
Since Monday 17 January, people with COVID-19 in England can end their self-isolation after 5 full days, as long as they test negative on day 5 and day 6. The decision has been made after careful consideration of modelling from the UK Health Security Agency…
Still time to consider tax planning options for 2021-22
With rare exceptions, once the end of the tax year has passed, tax planning options to reduce liability are no longer possible. For Income Tax and Capital Gains Tax purposes, this means that the majority of the tax reduction options will cease unless actioned before…
Beware overtrading
If politicians have it right, we may be approaching the end of the major disruption to economic activity of the past two years. Which is great news for those trades badly affected by continuing lockdown and other restrictions. Unfortunately, rapid growth following a long period…