In the Budget it was announced that, rather than increase in line with inflation each year, several personal tax allowances are to be frozen. The below allowances will remain at the 2021/22 levels through until 2025/26: Personal Allowance – £12,570 Basic Rate Band – £37,700 = Higher Rate Threshold £50,270 Additional Rate Threshold – £150,000 […]
James McBrearty in TAXAdviser magazine
As a fellow of my tax association, I was featured in the February 2021 issue of TAXAdviser magazine: The feature discusses my tax career and how the ATT qualification, ATT fellowship and volunteering for the association have all had a positive impact: You can download a copy of the February 2021 issue from: https://www.taxadvisermagazine.com/editions Please […]
HMRC 31st January 2021 Return Deadline Extended
The normal deadline for submitting an online tax return is the 31st January after the year end. For 2020 tax returns the deadline would usually have been 31st January 2021. It has been announced that late return penalties will not be issued on 31st January this year… as long as any outstanding returns are filed […]
Self-serve HMRC time to pay for 2021
HMRC had already allowed people to defer payment of their 31st July 2020 second payment on account until 31st January 2021. Now, that is being extended through a new time to pay arrangement that will enable people to set up their own online payment plan to cover any or all of the below liabilities: 1) […]
The Winter Economy Plan update
The chancellor has announced the winter economy plan, which provides some additional support to individuals and the self-employed: SEISS Grant Extension There are to be two further payments under the Self-Employed Income Support Scheme. These payments are to cover the period from November 2020 to April 2021. Payments are to be made in two lump-sum […]
Countdown to HMRC Digital Income Tax in 2023
HMRC has recently announced the proposed timescale to introduce the next stage of Making Tax Digital (MTD) for Income Tax. Who does HMRC Digital Income Tax affect? Previously MTD applied to those that were VAT registered – from 2023 it will expand to include an additional two groups of people: 1) Those with rental income […]
taxhelp celebrates 14 years in business
I started taxhelp.uk.com back in 2006, specifically to help the self-employed and individuals with their personal tax. Having helped many clients through the last downturn in the economy, from 2008 – 2013, I am sure that their will again be many success stories from small businesses in the coming years. Over my first decade in […]
When is the best time to start a small business?
You could actually find that it may be during a downturn… as many perceived obstacles are actually opportunities if you are aware of them and take advantage. Having started my own business in 2006, I have both grown my own business during the last downturn from 2008-2013 as well as help hundreds of small business […]
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