3 January 2021
If you have Payments on Account falling due in January 2021 then you may be considering reducing them.
Before you do that you need to read our post about the ability to pay tax over 11 months. Because of the interaction of penalties and the overall uncertainty about earnings, you might want to think about a different strategy about minimising your cash flow while avoiding the penalties.
27 October 2020
Key points of the new JSS
- Basic eligibility for JSS requires the business must be closed by Covid legislation. Choosing to close because you have no customers does NOT mean you qualify.
- Claiming starts in early December once the portal opens.
- Claims are being repaid in arrears, only after you have successfully submitted a claim.
!!! As at 27 October, in Scotland, you will only qualify for JSS Closed if the area is in Tier 4 (which is Tier 3 in England).
7 December 2020
If you took advantage of HMRC’s schemes and deferred your tax for VAT and income tax self- assessment because of coronavirus then what options are there to pay? And when is best to do it?
What about your January 2021 payment?
8 July 2020
If you claimed a covid-19 grant, then you can expect that the SEISS checks (Self-Employment Income Support Scheme) will apply to you. Although it was easy to claim and qualify, you need to assume that HMRC will be checking claims next year.
The checks will be anti-fraud measures and checks on eligibility, so what records do you need to back up your claim?