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The temporary 5% VAT rate that has applied to supplies made in the tourism and hospitality sector since the start of the pandemic comes to an end at the end of September. The rate then increases to 12.5% from 1 October until 31 March 2022...
The Government are pulling the plug on support to employers for furloughed staff at the end of September as they anticipate that the economy will be back to normal by October. The grant claims for employees furloughed in the month of September are 60% of...
Like the CJRS scheme for employers the Self-Employed Income Support Scheme (SEISS) has been extended to September 2021and details of claims for the fourth grant have now been released. This fourth grant covers February, March and April 2021. There will then be a fifth grant...
The fourth version of the CJRS “furlough” grant scheme starts on 1 May 2021 and will run until 30 September with employees affected continuing to be supported such that they are entitled to be paid at least 80% of their “usual pay” subject to a...
Date What’s Due 1 March 2021 Corporation tax payment for year to 31/5/20 (unless quarterly instalments apply) 15 March 2021 February Furlough claims must be made by this date 19 March 2021 PAYE & NIC deductions, and CIS return and tax, for month to 5/03/21 (due 22/03 if you pay electronically) 1 April...
The current Income Tax and National Insurance contributions exemption for employer reimbursed expenses that cover the cost of relevant home-office equipment has been extended to 5 April 2022. Home office equipment is equipment necessary for the employee to work from home as a result of the...
A temporary increase to capital allowances available to companies investing new plant and machinery on or after 1 April 2021 up to and including 31 March 2023. During the period of super deduction, companies can claim 130% on most new plant and machinery expenditure if it...
A temporary extension to the loss carry back rules for trading losses for both companies and unincorporated businesses was announced. For accounting periods ending between 1 April 2020 and 31 March 2022, losses can be carried back three years rather than the current one year rule...
The current SDLT holiday on residential property with a value up to £500,000 was set to end on 31 March, but has been extended to 30 June 2021. This applies to property purchases in England and Northern Ireland only. The Chancellor also announced that the SDLT threshold...
The Bounce Back Loans and CBILS program are coming to an end. A new Recovery Loan Scheme will take their place from April. Businesses of any size can apply for the loans from £25,000 to £10m through to the end of this year. The government...