SELF-ASSESSMENT PAYMENT PLAN 1 April deadline to set up self assessment payment plansSelf assessment taxpayers have just over a week to 1st April 2021 to pay any outstanding tax liabilities in full or set up an online self-assessment payment plan for the 2019 to 2020 financial year to avoid incurring penalty charges, HMRC has warned.Due to […]
FOURTH AND FIFTH SEISS GRANTS Self-employed traders will be able claim a fourth SEISS grant from late April and a fifth SEISS grant in late July 2021, but extra conditions will be attached to the fifth grant.The long awaited fourth grant (SEISS-4) has now been revealed to be set at 80% of the trader’s average trading […]
A SUMMARY OF THE BUDGET 2021Chancellor Rishi Sunak revealed the Budget in the House of Commons on Wednesday 3rd March 2021.He announced new measures to help business and jobs through the pandemic and to support the UK’s long-term economic recovery and a series of tax-raising plans to help rebalance the public finances.Here is a summary […]
Construction Industry News – Reverse Charge Rules 2021Reducing VAT FraudThe purpose of the new reverse charges rules taking effect on the 1st March 2021 is to reduce VAT fraud in the Construction Industry.In other words, the risk of builders charging 5% or 20% VAT on sales invoices raised to their builder customers and being paid […]
GIVING GIFTS AS AN EMPLOYER GIFT GIVING AS AN EMPLOYER, AND YOUR TAX AND NATIONAL INSURANCE OBLIGATIONSAs a wonderful employer you may, on occasion, want to give your team members a gift. This could be a gift for a Birthday, they may be celebrating a huge milestone in their life, there’s always the common splurge on […]
STARTING A NEW BUSINESS IN 2021HOW TO START A BUSINESS IN 2021Has the current Coronavirus Pandemic got you thinking that it’s time to take some control of your life back?England entered its third national lockdown on just the 4th day of the year!You may have been thinking about starting your own business for a while […]
HMRC Rejects calls to extend the January 2021 Tax Return DeadlineHMRC will not waive late filing penalties or extend the 31 January 2021 deadline. However, they will accept Coronavirus pandemic related disruptions as a reasonable excuse and will also extend the period to appeal a penalty. Submit your tax return even if you can’t pay in […]
SUMMARY OF WINTER ECONOMY PLAN 2020 Incase you missed it, here’s a quick summary of the Government’s Winter Economy Plan 2020, to get your head around all the financial help there is for UK businesses during these unprecedented times. SELF-ASSESSMENT TAX DEFERRAL The government are giving more time to pay taxes due in January 2021, […]
CONTRACTOR ACCOUNTING SERVICES UKACCOUNTANTS FOR CONTRACTORS IN ALTRINCHAM, CHESHIRE AND MANCHESTERAt Parker Whitwood we provide Affordable Accounting Services for Contractors in Altrincham, Cheshire South Manchester and across the UK.Our Contractor Accounting package starts from just £75 per month and includes the following accounting services: PAYE ReturnsPayrollVAT ReturnsTax ReturnsPersonal Tax ReturnTax AdviceAll you have to do to […]
DO I NEED AN ACCOUNTANT TO HELP WITH MY SELF-ASSESSMENT TAX RETURN?SELF-ASSESSMENT TAX RETURN SEASON IS LOOMINGIt’s that time of year, where accountants all over the country are starting to get a lot busier, and a lot less friendly (we’re still a laugh, don’t get us wrong!). But what about you? The sole trader. How […]