SEISS second payment announced

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

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WFH – Homeworking Expenses for Employees

With many employees currently working from home, there have been two welcome concessions for HMRC regarding the tax treatment of expenses. Personal purchases of equipment to be used for work purposes. Tax relief on homeworking expenses. Personal purchases of equipment

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Remember that SEISS grants are taxable income

This week should see the first payments from the Self Employed Income Support Scheme (SEISS) being made to claimant’s bank accounts. However, it is important to remember that this grant is classed as taxable income and will need to be

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Claiming the HMRC SEISS grant

HMRC has been able to move up the expected timescale for claims under the Self-Employment Income Support Scheme (SEISS.) They are now starting to contact those who qualify, and aim to have contacted them on how to proceed with a

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Bounce back loans launched

The government has launched the bounce back loan scheme, which may be of interest to you or someone you know. These are loans of between £2,000 and £50,000 over 6 years specifically for small business. They are available up to a maximum loan

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HMRC notice to complete a 2020 tax return

HMRC has been issuing the notices to complete 2020 tax returns – if these arrive in the post they are called a SA316 form. If you have a personal tax account, then you will receive a message (as above) containing

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HMRC 2020 tax refunds in only 7 days

Due to starting preparation work early, I was able to submit the first 2019/20 tax returns online to HMRC on Monday 6th April. These were processed by HMRC online next day, and in the case of refunds these then started

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HMRC 2020 Paper Tax Return Form SA100

Every year, one of the issues people without an adviser face online is actually trying to find the tax return form itself to complete. This year it is especially important, as HMRC have announced that they are no longer automatically

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National Insurance threshold increase 2020/21

From 6th April 2020, the threshold for national insurance is increasing. The new threshold will be £9,500 and will apply to both the self-employed as well as employees. For the self-employed, you pay class 4 national insurance contributions at 9%

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