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31 January self-assessment deadline approaching

31 January self-assessment deadline approaching There are a number of key tasks that you need complete by midnight on 31 January 2021. These include filing the self-assessment tax return for 2019/20, paying any remaining tax due for 2019/20 and, where applicable,...

The CJRS, furloughed staff and Christmas holidays

The CJRS, furloughed staff and Christmas holidays Following the announcement of more stringent lockdown measures, the Chancellor, Rishi Sunak, announced yet another extension to the Coronavirus Job Retention Scheme (CJRS). The scheme will now run until the end of...

Virtual Christmas parties and tax-free gifts

Virtual Christmas parties and tax-free gifts The COVID-19 pandemic has meant that the traditional Christmas party could not happen in 2020. If, instead, you held a virtual event, you will be pleased to know that this too can benefit from the tax exemption for annual...

Furnished holiday lettings and lockdowns

Furnished holiday lettings and lockdowns The second National Lockdown and local restrictions may mean that you are unable to meet the tests for your holiday let to qualify as a furnished holiday letting (FHL) for 2020/21. However, where this is the case, all is not...

Some Brexit reminders

Some Brexit reminders The Brexit transitional period comes to an end on 31 December 2020. As a result, new rules will apply from 1 January 2021. As the situation is evolving, it is recommended that you check the guidance on the Gov.uk website regularly. EORI number...

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...