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How to pay tax in instalments

How to pay tax in instalments

The January 31 tax deadline is looming. With tax debts piling up, some people are feeling overwhelmed. Don’t worry, you can defer payment of what you owe. HMRC’s Time to Pay system is the solution. Essentially, it allows you to pay tax in instalments.   What’s in...
Operate the National Minimum Wage correctly

Operate the National Minimum Wage correctly

The Job Retention Scheme pays 80% of wages. Unfortunately, it means many employees are not receiving the National Minimum Wage (NMW). Don’t assume this matters less in the current circumstances. Employers that don’t operate the National Minimum Wage correctly will...
2019/2020 SELF-ASSESSMENT tax deadline stands

2019/2020 SELF-ASSESSMENT tax deadline stands

Despite the difficulties caused by Covid-19, the 2019/2020 self-assessment tax deadline stands. If you need to file a Self Assessment tax return, act now. Complete your return online and submit it by 31 January 2021.   Penalties for late filing If your return is...
New Lockdown Grants Worth up to £9,000

New Lockdown Grants Worth up to £9,000

Following the new lockdown measures announced on the 4th January this week, new lockdown grants of up to £9,000 are being released for businesses in retail, hospitality and leisure.   This is part of a £4.6bn support package to help the most affected businesses...
SEISS grants are taxable

SEISS grants are taxable

The window for claiming the third Self-Employment Income Support Scheme grant (SEISS grants) opened on 30 November 2020. Whilst we welcome this financial support, bear in mind that it is taxable.   Taxable SEISS grants In fact, all SEISS grants are taxable. Both...