Articles in "Tax"

From 1 July 2021 there are changes to the Stamp Duty Land Tax (SDLT) and Land Transaction Tax (LTT) bands for residential property.

The disappointment in the hospitality and travel sectors in particular about the pushing back of the so-called Freedom Day by four weeks has been very evident in the media since the announcement was made by Boris Johnson – but for the self-employed, support continues to be in place, and will be right through until September.

As a business owner we are all too aware of the importance of the various ‘clogs’ in the business machine. One of the most important elements of this are your employees.

With the summer holidays approaching, HM Revenue & Customs (HMRC) are reminding working families that Tax-Free Childcare top-ups can be used to help pay for childcare costs, such as accredited holiday clubs, childminders, or sport activities.

The forms P11D which report details of benefits and some expenses provided to employees and directors for the year ended 5 April 2021, are due for submission to HMRC by 6 July 2021. The process of gathering the necessary information and completing the forms can take some time, so it is important that this process is not left to the last minute.

The Treasury has launched a review into the effectiveness of the Office of Tax Simplification (OTS), the independent body responsible for helping to make the UK tax system simpler and easier to interact with for taxpayers.

The UK government has confirmed that its plastic packaging tax (PPT) will come into force on 1 April 2022.

The SEISS grants are subject to income tax and National Insurance contributions therefore, Self-Employed taxpayers who have received SEISS payments from HMRC will need to report these on their self-assessment tax returns.