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2020/21 income tax returns & the SEISS
Three grants worth up to £21,570 are taxable. A chunk of time has passed since the self-employed income support scheme (SEISS) was launched in May 2020, following the onset of the COVID-19 pandemic. The first taxable grant, worth up to £7,500 in total, was...
National Insurance contributions rates ‘poised to increase’
The Government could be set to raise National Insurance contributions (NICs) by 1% for both employers and employees, a report has claimed. The Times claimed senior ministers have agreed to increase rates to raise an extra £10 billion a year for the National...
Deadline approaches for fifth and final self-employed grant
The self-employed have until the end of the month to apply for the final grant available via the self-employed income support scheme (SEISS). Everyone who is eligible for the last SEISS grant should have received a personal start date from HMRC in recent...
Basis period rules in line for reform
What might this mean for your business? Unincorporated businesses could be about to see significant changes to the ways in which they are taxed, following the launch of a Government consultation. The Government plans to reform the basis period rules in a bid to...