by James McBrearty | Mar 4, 2021 | Blog, Personal tax
It was announced in the Budget that there would be two SEISS grants: Fourth Grant – covering three months at 80% of average trading profits. Paid out in a single instalment and capped at £7,500.You must be a self-employed individual or a member of a...
by James McBrearty | Mar 4, 2021 | Blog, Personal tax
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...
by James McBrearty | Feb 11, 2021 | Blog, From the office
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: James McBrearty...
by James McBrearty | Jan 26, 2021 | Blog, Personal tax, Self-employed
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...
by James McBrearty | Nov 25, 2020 | Blog, Personal tax, Self-employed
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...
by James McBrearty | Sep 28, 2020 | Blog, Personal tax, Self-employed
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...
by James McBrearty | Aug 17, 2020 | Blog, Personal tax, Self-employed, Start-up
NOW POSTPONED to 2024: Making Tax Digital postponed until 2024 (taxhelp.uk.com) 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...
by James McBrearty | Jul 20, 2020 | Blog, From the office
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...
by James McBrearty | Jul 13, 2020 | Blog, Self-employed, Start-up
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...
by James McBrearty | Jun 15, 2020 | Blog, Self-employed
In order to reduce fraud, confirmation of payee has been introduced for bank payments.This service aims to tie up payments to the correct account name, whereas in the past only the sort code and account number was used. At present, the new systems work for faster...
by James McBrearty | Jun 8, 2020 | Blog
Many people will be looking to promote their business in the current market, something I can highly recommend is Small Business Saturday and also the Small Business Saturday 100.There are many great opportunities to gain publicity for your small business, and there...
by James McBrearty | Jun 1, 2020 | Blog
The Self Employed Income Support Scheme (SEISS) has been extended to cover a further period of three months.The second payment, which will be the final one under the SEISS scheme, is to be capped at £6,570.The second grant will open for applications in August, and...