Despite many self-employed business owners still facing lower sales due to Covid, HMRC continues to pursue taxes based on higher sales from the previous year. In the absence of any agreement with HMRC, many taxpayers will end up paying too much tax in the year 2020/21 as the payments on account (due 31.1.21 and 31.7.21) are based on tax paid … Read More
What the mini Budget means for you & what it should have included
VAT, Stamp Duty and the Job Retention Bonus – what the ‘mini Budget’ means for you In last week’s ‘mini Budget’ Chancellor Rishi Sunak unveiled further help to kick start the UK economy which included cuts to VAT and Stamp Duty. Here’s what the changes mean for you and what we think of them: VAT – The rate of VAT … Read More