HMRC plans to make tax payable sooner

The government is planning a radical policy change to collect tax sooner. What’s the full story? Consultation.  On 23 March 2021 HMRC launched a consultation entitled “Timely payment - a call for evidence”. Its purpose is to provide HMRC with information that will allow it to advise the government on collecting self-assessment tax sooner. This will have the … Continue reading HMRC plans to make tax payable sooner

Budget Summary March 2021

The highlights of the Chancellor's announcement: Coronavirus support the Coronavirus Job Retention scheme (furlough scheme) will be extended until the end of September 2021. From an employee’s perspective nothing will change but employers’ contributions will increase starting in Julythe fourth tranche of the Self-Employment Income support Scheme will go ahead and there will be a … Continue reading Budget Summary March 2021

Capital allowances incentive for “green” cars extended

Despite the financial pressures caused by the pandemic the government has gone ahead with the planned extension to tax breaks for environmentally friendly vehicles. What might this mean for your business? The end is not yet nigh Businesses wanting to take advantage of the capital allowances (CAs) tax break for environmentally friendly cars and other vehicles have … Continue reading Capital allowances incentive for “green” cars extended