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Temporary AIA limit extended until 31 December 2021

Temporary AIA limit extended until 31 December 2021 The Annual Investment Allowance (AIA) enables a business which incurs qualifying expenditure to claim an immediate deduction when computing taxable profits. The deduction is capped at the amount of the AIA limit for...

HMRC consult on Making Tax Digital for corporation tax

HMRC consult on Making Tax Digital for corporation tax Earlier this year, the Government published a timetable for taking the Making Tax Digital (MTD) programme forward. As part of that programme, MTD will be extended to corporation tax. Although, this will not be...

Customs declarations from 1 January 2021

Customs declarations from 1 January 2021 The Brexit transitional period comes to an end on 31 December 2020. From January 2021, new arrangements apply if you send goods abroad from the UK or bring goods into the UK. It is important that you check what customs...

File your tax return by 30 December 2020

File your tax return by 30 December 2020 Although the deadline by which your 2019/20 self-assessment tax return must be filed online is 31 January 2021, an earlier deadline of 30 December 2020 applies if you want any tax that you owe for 2019/20 to be collected...

SEISS grant increased

SEISS grant increased The Self-Employment Income Support Scheme (SEIS) will now run until 30 April 2021, providing two further grants – one for the three months from 1 November 2020 to 31 January 2021 and one for the three months from 1 February 2021 to 30 April...

CJRS extended until March 2021

CJRS extended until March 2021 The Coronavirus Job Retention Scheme (CJRS) was due to come to an end on 31 October 2020, being replaced from 1 November 2020 with a new scheme – the Job Support Scheme. However, the second national lockdown in England changed all...