5 personal tax changes for 2020/21

It could come as good or bad news that there are relatively few substantial tax changes taking place in 2020/21. On one hand, there aren't many new opportunities to save on your tax bill over the next year - but on the other, most people will appreciate a sense of...

Second phase of MTD for VAT delayed

HMRC has deferred rolling out the second phase of Making Tax Digital (MTD) for 12 months due to the coronavirus. Phase one of MTD for VAT kicked in from 1 April 2019, with what HMRC described as a soft-landing period. This included basic bridging software and no...

Govt. urged to plug gaps in self-employed scheme

Concerns have been raised about self-employed workers who are excluded from the self-employed income support scheme. The scheme provides a cash grant to sole traders or partners who are experiencing disruption as a result of the UK's coronavirus epidemic. It provides...

Govt. updates coronavirus job retention scheme advice

Employer auto-enrolment contributions and national insurance liabilities are covered under the coronavirus job retention scheme. The scheme was announced last week by Chancellor Rishi Sunak and will be open for an initial three months, starting from 1 March 2020. It...

Govt. to pay 80% of self-employed income

Self-employed workers who are affected by COVID-19 can apply for a grant to cover 80% of their average monthly profits over the last three years. Chancellor Rishi Sunak confirmed the taxable grants are worth up to a maximum of £2,500 a month and will be paid in a...