Our Blog
News and tax updates to keep you informed.
Businesses must prepare as wider creditor action protections end in March
Companies with debts outside of their rental arrears face the removal of protection against creditor actions from March 31, 2022. Other debts outside rental arrears affected Currently, rent arrears built up because of forced closures as a result of COVID-19 are excluded...
Landlords and tenants face legally binding arbitration over rent arrear disputes
Companies forced to close due to Coronavirus restrictions are currently protected from eviction by landlords until March 25, but a Government Bill currently before Parliament is expected to create binding arbitration following this date. Code of Practice The Commercial...
Taxpayers get extension to self-assessment filing dates
Millions of taxpayers who are yet to submit their completed Self-Assessment tax return which is due before January 31 are being given a grace period to file until February 28. More than 12.2 million customers are expected to complete a tax return for the 2020/21 tax year...
Businesses helped by COVID-19 support could face unexpected tax bills
Businesses and self-assessment taxpayers are being reminded they need to include all grants paid as part of the COVID-19 support payments in their tax returns, as some may think these were non-taxable. Have you set money aside to deal with tax on support grants? HMRC has...
ITSA registration
HMRC have published a call for evidence on the case for reforming the rules for registering for Income Tax Self Assessment (ITSA). The call for evidence is interested in hearing views on whether it would be beneficial to bring forward the deadline by which landlords and...
SSP changes
To help employers affected by the spread of the Omicron variant of COVID-19, the Statutory Sick Pay (SSP) rebate scheme for small employers is being reintroduced. In addition, the period for which an employee can self-certify a sickness absence is increased temporarily...
Help if you are struggling to pay your tax bill
Financially, 2021 has been a difficult year for many, and you may be struggling to pay your January tax bill in full. Any tax and National Insurance that remains unpaid for 2020/21 must be paid by 31 January 2022, along with the first payment on account for 2021/22....
Payments on account
Payments on account are advance payments towards your tax and, where relevant, your Class 4 National Insurance bill. You may need to make them if you are self-employed or if you are a landlord. You may also need to make them if you operate your business through a personal...