In a surprise move and with only a week to go until the 2019/20 tax return filing deadline, HM Revenue & Customs (HMRC) announced on January 25 that it would not be charging the usual automatic late filing penalties of £100 for any 2019/20 tax returns that were not filed by January 31, 2021....
Each week Bath accountancy firm Pearson May and Bath Business News team up to bring you the top national finance stories. HMRC reminds taxpayers of time-to-pay option Self-assessment taxpayers can spread payments over up to 12 months. Does this apply to you? Find out here Rising living wage set to drive up employer costs 23-year-olds to get highest...
Each week Bath accountancy firm Pearson May and Bath Business News team up to bring you the top national finance stories. Furlough scheme extended to April Government-backed loans will also run until March. Click here for details New grants to help hardest-hit firms survive lockdown Treasury confirms grants of up to £9,000 per property are available. Find out...
Significant changes to Capital Gains Tax could be in the pipeline this spring following a report from the Office for Tax Simplification (OTS), writes Pearson May partner Jacqui Bowden. Chancellor Rishi Sunak commissioned the report back in July 2020, asking the OTS to consider the scope of the tax and the rates which apply,...
Each week Bath accountancy firm Pearson May and Bath Business News team up to bring you the top national finance stories. Party on? How to keep the Christmas spirit alive Does the tax break still apply to Christmas parties in 2020? Click here to find out Clock ticks towards 2019/20 self-assessment deadline The 2019/20 deadline is on or...
It is sadly inevitable that this year’s staff Christmas parties will not be the usual get-togethers and businesses will, no doubt, already be looking at more inventive ways to have a festive celebration, be it virtual or with individual gifts, etc. writes Pearson May partner Matthew Rutter. From online cookery classes, virtual pantomimes and streaming...
Each week Bath accountancy firm Pearson May and Bath Business News team up to bring you the top national finance stories. Are big changes afoot for Capital Gains Tax? The Office for Tax Simplification recommends options for Covid-19 tax grab. Find out more here HMRC reveals Making Tax Digital for Corporation Tax plans Latest tax to go digital set...
Each week Bath accountancy firm Pearson May and Bath Business News team up to bring you the top national finance stories. Lockdown support: November update CJRS and the SEISS extended with England in second lockdown. Find out more here Mortgage payment holidays extended for six months Borrowers’ support extends as the coronavirus crisis deepens. Click here for further...
Just as we were entering the second national lockdown, Chancellor Rishi Sunak announced a five-month extension to the current Coronavirus Job Retention Scheme and increased the level of the next self-employed income support grant, writes Pearson May partner Matthew Rutter. The Chancellor told the House of Commons that the Coronavirus Job Retention Scheme (CJRS) will...
Each week Bath accountancy firm Pearson May and Bath Business News team up to bring you the top national finance stories. Job support scheme – extra support announced Chancellor Rishi Sunak has revealed an 11th-hour upgrade as Covid-19 cases rise. What you need to know is here Tax implications of moving home Residential property transactions increased by 21.3%...
