by VelocityAS | Jun 1, 2022 | Accounting, Finance, HMRC, income, Tax
There is a tendency for many of us to leave our tax returns until the last minute. It’s human nature to want to delay dealing with something we find uncomfortable. However, if you get your tax return for the 2021/22 tax year completed sooner rather than later, you... 
by VelocityAS | Jan 4, 2022 | Accounting, Dividends, Employment, HMRC, income, SEISS, Self Assessment, Tax, Tax Relief
If you need to file a self-assessment tax return for the year to 5 April 2021, you have until midnight on 31 January 2022 to file your return if you have not already done so. You must also pay any tax that you owe for 2020/21 by the same date. Do I need to file a... 
by VelocityAS | Jul 2, 2021 | Employment, National Insurance, Tax, Tax Relief
A new relief has been introduced for employers of armed forces veterans which allows them to benefit from a zero rate of secondary National Insurance contributions on the earnings of the veteran up to a new upper secondary threshold. However, while the relief applies... 
by VelocityAS | Jun 9, 2021 | COVID-19, HMRC, Tax Relief
If you are an employee and you are, or have been, working from home as a result of the COVID-19 pandemic, you may be able to claim tax relief for the additional household costs that you have incurred as a result. HMRC are now accepting claims for the current (2021/22)... 
by VelocityAS | May 7, 2021 | COVID-19, Finance, income, Tax, Tax Relief
To help businesses which have suffered losses as a result of the COVID-19 pandemic, the period for which certain trading losses can be carried back is extended from one year to three years. The extended carry-back period applies for both income tax and corporation tax...