1 March 2020 – Due date for Corporation Tax due for the year ended 31 May 2019. 2 March 2020 – Self assessment tax for 2019/19 paid after this date will incur a 5% surcharge. 19 March 2020 – PAYE and NIC deductions due for month ended 5 March 2020. (If you pay your tax […]

Pubs will benefit from £1,000 business rates discount from April 2020. The cut is on top of previously announced plans to slash the bills of small shops by 50%. In a fresh demonstration of the government’s support for communities up and down the country, a new Pubs Relief will be introduced in April, with £1,000 […]

From April 2020, the National Living Wage (NLW) and National Minimum Wage (NMW) pay rates will increase as set out below. NLW rates for workers aged 25 and over – from £8.21 to £8.72 per hour. NMW rates: workers aged 21–24 — from £7.70 to £8.20 per hour workers aged 18–20 — from £6.15 to […]

What can we expect from the budget next week? On the expenditure side, infrastructure and the NHS seem to be the two major areas for investment. HS2 and other rail improvements in the North are likely to be beneficiaries as will carbon capture and other climate related projects, for example, improving the energy efficiency of […]

In a month’s time, 5 April 2020, the 2019-20 tax year expires. After this date many of the options to utilise allowances and claim reliefs to reduce tax for 2019-20 will disappear. A number of the reliefs to consider are listed below. This is by no means an exhaustive list. Any numbers quoted refer to […]

The Insolvency Service has issued a warning that fraudsters have been contacting investors in insolvent schemes claiming to be from the Official Receiver’s office or to have been appointed by the Official Receiver to help recover funds for a fee. These approaches are always fraudulent. Official Receivers or any agent legitimately instructed to act on […]

As we approach the end of yet another tax year it is worth reflecting on the role of HMRC in our tax affairs. Without a doubt, HMRC, tax legislation and its application, will continue to ensure that you pay your taxes. You can rely on HMRC to pounce if they feel that you have underpaid […]

Since the launch of the Dormant Assets Scheme in 2011, £600m has been transferred from High Street banks and building societies to various good causes. The funds have come from bank accounts that are classified as dormant: where banks are unable to trace the account holders The scheme is to be expanded. The government is […]

The government have announced a £1,000 business rates discount for public houses The relief announced 27 January 2020, will be available to public houses with a rateable value of less than £100,000 and will apply for one year from April 2020. Central government will reimburse local authorities that adopt this scheme. Extracts from the January […]

Following the resignation of Sajid Javid last week, there has been much speculation on how this will affect the direction of the budget to be presented to parliament next month. Rishi Sunak, who replaces Sajid, is stepping into the Chancellor’s role with little experience but does seem to have “rising star” status as far as […]