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Budget Summary 2021
Budget highlights The main rate of corporation tax will be increased to 25% from April 2023 for companies with profits of at least £250,000. At the same time, a new small companies’ rate of 19% will apply to companies...
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Late payment penalties deferred
Self Assessment taxpayers will not be charged a 5% late payment penalty if they pay their tax or set up a payment plan by 1 April 2021, HM Revenue and Customs have announced. The payment deadline for Self Assessment is...
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Paying VAT deferred due to COVID-19
HMRC have released further guidance in relation to paying the VAT that was deferred between 20 March and 30 June 2020. Please see below a summary of the announcement:- If you deferred VAT payments due between 20 March...