K A Moore Chartered Certified Accountant

| Self Assessment Payments |

Today HMRC has announced that Self Assessment customers will not be charged the initial 5% late payment penalty if they pay their tax or make a Time to Pay arrangement by 1‌‌ April.

The payment deadline for Self Assessment is 31 January and interest will be charged ...

| National Minimum Wage Rates 2021/22 |

From 1st April 2021 the National Minimum Wage will now be implemented for all individuals over the age of 23, dropping from the previous 25 year-old threshold.

For workers over the age of 23, there will be a 2.2% increase – rising from £8.72 to £8.91 per ...

| IR35 Changes: April 2021 |
Private sector IR35 reform is set for April 2021, when the public sector rules will be applied to the private sector.

The upcoming IR35 changes mean that:

medium-sized and large businesses will be responsible for working out the contractor’s employment status, not t...

| VAT reverse charge for construction and building services |
VAT registered construction businesses should note that this reverse charge measure is coming in on 1 March 2021. A Revenue and Customs Brief was issued in June 2020, giving more information.

Every VAT registered construction business...

Companies House has announced it will pause voluntary and compulsory strike off processes for one month until 21 February 2021.

The pause follows ongoing Covid-19 restrictions which have led to delays in processing correspondence, documents and forms. As a result of the postponement, companies w...

SELF ASSESSMENT FILING DEADLINE

Today (25/01/2021) HMRC has announced that Self Assessment filers will not receive a penalty for filing their 2019-20 tax return late, as long as they file online by 28‌‌ ‌February.

However; HMRC are encouraging filers who have not yet filed to do so by 31‌‌ ‌Ja...

Self Assessment Debt

If your Self Assessment debts are over £30,000, or you need longer than 12 months to pay your debt in full, you may still be able to set up a Time to Pay arrangement by calling the Self Assessment Payment Helpline on 0300 200 3822.

Capital Gains Tax on UK residential property

From 6 April 2020 the process for Capital Gains Tax on UK residential property sold since 6 April 2020 has changed.

It must now be declared and paid within 30 days of completion.

This only applies where the property in question is not the seller’s...

Taxpayers January 2021 Tax Bill

Taxpayers could face a tax bill “twice its normal size” next month, due to the previous deferral of the 31 July 2020 payment on account from this summer.

This will result in taxpayers having to face paying the 2020 July tax bill (31/07/2020), the 2020 balancing p...