Deferring self-assessment payments on account is just one of the governments measures to support your businesses during COVID19. Are you due to pay a self-assessment payment on account by 31 July 2020? Is the impact of the #coronavirus is going to cause you difficulty in making payment by that date?
You may defer your self-assessment payment until January 2021.
Continue readingThe Chancellor announced help for the self-employed yesterday evening at a press conference. Are you a sole trader? We have outlined what we currently know below – please note we expect further guidance to be released soon and will update you as soon as we are aware of this.
Continue readingCOVID19 Update: 27th March 2020 – Further Clarity on the Coronavirus Job Retention Scheme – The government has now provided further clarity on the Coronavirus Job Retention Scheme, we have outlined this for you below:
Continue readingCovid19 Update: 26th March 2020 – On Friday 20 March 2020, the Chancellor announced a package of measures to help businesses through these times of economic uncertainty. Among these is the Coronavirus Job Retention Scheme.
Continue readingDaily COVID-19 Update 23rd March 2020 – Support for businesses through the Coronavirus Job Retention Scheme. Under the Coronavirus Job Retention Scheme, all UK employers will be able to access support to continue paying part of their employees’ salary for those employees that would otherwise have been laid off during this crisis.
Continue readingDaily COVID-19 Update 19th March 2020: Are you eligible for 100% business rate relief? We have set out which businesses qualify here. Business Rate Holiday information. The Government advice has been received about which businesses will receive 100% business rate relief which we have set out for you below:
Continue readingImportant news from The House of Commons last night, in response to the economic impact of coronavirus the IR35 off-payroll rules for private sector engagers have been delayed until 6th April 2021.
The IR35 delay came in response to growing calls for the government to offer support to the self-employed and freelancers.
Continue readingThe question echoing throughout Hertfordshire, Essex and businesses throughout the UK during these testing times is “What can you do to help your business/sole trade through the COVID-19 crisis?” – HB Accountants are here to help you.
Continue readingChanges to Capital Gains Tax on Property Sales will only affect you if you sell or gift a residential property other than your main residence on or after 6 April 2020.
For such disposals it will be necessary to file a separate capital gains tax (CGT) return within 30 days of completion of the disposal and it will also be necessary to pay any capital gains tax within the same period. The capital gain will also need to be reported on the normal tax return filed after the end of the tax year and the tax already paid will be treated as paid on account of the final liability.
As the end of the tax year approaches, it’s a great time to review your personal financial position and look for more efficient ways of managing your income. Here are our top tax tips for individuals as we approach the end of the tax year on 5th April 2020. If you want to know more, give the tax team at HB Accountants a call.
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