Monthly Archives: February 2021

Supreme Court determines Uber drivers are workers

In a landmark decision handed out by the Supreme Court last week, the respondents, Yaseen Aslam, James Farrer, Robert Dawson and others have had their claim upheld that they are “workers” and not self-employed drivers for Uber; as such they qualify for rights under the Employment Rights Act, the Minimum Wage Act and Working Time...

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Do you qualify for the fourth SEISS grant?

To qualify for the Self-Employed Support Scheme HMRC expects you to make an honest assessment about whether you reasonably believe your business will have a significant reduction in profits as well as meeting financial considerations based on previously submitted tax returns.

The closing date for the third grant – 1 November 2020 to 29 January 2021...

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Tax claims if working from home

Many employed persons will have spent a large chunk of the current tax year, 2020-21, working from home due to COVID restrictions. HMRC will accept a claim to cover any additional costs you may have incurred.

Must be required to work from home

You may be able to claim tax relief for additional household costs if you...

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UK Pensions Bill receives Royal Assent

The UK Pensions Act will bolster protections for savers and further the government’s green agenda by supporting progress towards net zero.

New powers to penalise errant bosses

The Act will strengthen protections for pension savers by extending the powers of the Pensions Regulator, introducing the power to issue civil penalties of up to £1 million, alongside three...

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Prospects for 2021

The short-term outlook for UK businesses operating in sectors badly affected by the present COVID lock-down directives is not good.

Many cannot trade, many others are facing reduced turnover. Both will be struggling to maintain reserves – stay solvent – and cash-flow.

There are strategies that affected businesses can use to reduce fixed costs and minimise demands...

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New UK subsidies to replace EU State Aid

The following announcement provides encouragement that a replacement for the EU State Aid process is in development. Details from a recent Government press release are set out below.

A new UK-wide system for providing more flexible and tailored financial support to businesses has been set out under plans by the Business Secretary, taking advantage of the...

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Current tax year will still end 5 April 2021

It is doubtful that HMRC will change the tax year end date. The current tax year will therefore come to an end on 5 April 2021.

Which means that tax-payers still have two months (February and March 2021) to take advantage of any tax planning strategies that may advantage their tax liabilities for 2020-21.

As COVID disruption...

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Tax office moves the penalty spot

During the last week of January, HMRC finally accepted that many tax-payers would not make the filing deadline – 31 January 2021 – for their 2019-20 self-assessment tax return; due, in the main, to continuing COVID disruption.

As a gesture, they have confirmed that:

Self-Assessment tax-payers who cannot file their tax return by the 31 January 2021...

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Tax Diary February/March 2021

1 February 2021 - Due date for Corporation Tax payable for the year ended 30 April 2020.

19 February 2021 - PAYE and NIC deductions due for month ended 5 February 2021. (If you pay your tax electronically the due date is 22 February 2021)

19 February 2021 - Filing deadline for the CIS300 monthly return for...

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Did you defer VAT payments last year?

If you took advantage of the offer to defer VAT payments falling due between 20 March 2020 and 30 June 2020 – to help out with the impact of COVID disruption – your now have three choices. You can:

  • pay the deferred VAT in full on or before 31 March 2021
  • opt in to the VAT deferral...
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