Are you ready for 25% Corporation Tax? The Chancellor announced that only companies with profits above £250,000 would pay the 25% rate. He did not mention that between £50,000 and £250,000 the rate will be 26.5%. These profit limits are divided by the number of companies under common control. So, if you currently operate 5 …
HMRC has updated the guidance on how to work out national insurance contribution (NIC) payments for directors. Directors have to use an annual earnings period to work out their liability for Class 1 NICs. This figure must include all the director’s earnings when working out NICs, including fees and bonuses. Directors are classed as employees …
HMRC clarifies NICs payment rules for directors. Read More »
As I write this the results are still coming in. Can I recommend a postal vote to you in future. It is absolutely fascinating watching the various politicians arguing and bickering and trying to attract my vote. And it does not matter. I voted weeks ago. All that bumf that came through our letterbox went …
Are you VAT registered with turnover under £85000? Then you could have chosen to avoid MTD for VAT until now. But that is changing. From your first vat period commencing on or after 1 April next year, if you have trading and property income totaling over £10,000, you will be required to file your vat …
HMRC recently said that they were going to use email to communicate about the change in VAT direct debit payments. HMRC have also sent an email to a number of established self-employed traders on 26 February 2021 asking them to prove they are still trading before they can claim the next two grants. This use of …
I had not even realised that this was even a phenomenon. And it’s got nothing to do with the fact that a few more wrinkles on me would not really be noticed. As I understand it, Zoom wrinkles are those lines on your face that come from constantly presenting a happy smiley face whenever you …
The online service for applications for the self-employment income support scheme (SEISS) is now open. It is expected that up to 600,000 self-employed individuals will be able to apply for the support scheme. Claims must be submitted by 1 June 2021. To be eligible for the fourth grant you must be a self-employed individual or …
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