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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...
From April 2021, a new grant will be available to help businesses to reopen. Non-essential retail will get £6,000 per premises. Hospitality and leisure including personal care and gyms will get £18,000 per premises. If your business is eligible for the previous grants available you should...
Eligible retail, hospitality and leisure properties will pay no business rates for three months from 1 April to 30 June 2021. From 1 July 2021, business rates will be discounted, by a further 66% business rates relief until 31 March 2022...
The reduced 5% rate of VAT for goods and services supplied by the tourism and hospitality sector has been extended to 30 September 2021. To help support businesses further there will be a transitional rate of 12.5% from 1 October to 31 March 2022 with the...
The fourth taxable grant will cover 80% of average trading profits, capped at £7,500. The fourth grant will take into account 2019 and 2020 tax returns and will be open to those who became self-employed in the tax year 2019/2020. Eligibility for the scheme will be...