January 2021 - Whitefield Tax - Isle of Wight Accountants

Brexit: Summary for VAT impacts

by Jessica Garbett | Jan 29, 2021 | ACCA, business issues, VAT

The UK exited the EU VAT regime, Customs Union and Single Market from 1 January 2021. This means the loss of a range of compliance simplifications and the imposition of customs declarations, goods regulations, services and import VAT. A Brexit Trade and Cooperation...

Covid-19 grants for closed businesses

by Jessica Garbett | Jan 27, 2021 | ACCA, business issues, Covid19

The Local Restrictions Support Grant (LRSG (Closed)) supports businesses that have been required to close due to temporary local restrictions. Businesses that were open as usual and were then required to close due to local Tier 2 or Tier 3 restrictions may be eligible...

Self Assessment Deadline extended for 2019-20

by Jessica Garbett | Jan 25, 2021 | business taxation, Covid19, HMRC, personal taxatation

Its been announced today, 25th January 2021, that HMRC are giving taxpayers an extra month for filing 2019/20 tax returns which were otherwise due on 31 January 2021. However, whilst you won’t be charged a penalty for submitting your return up to a month...

Landlords and tax returns

by Jessica Garbett | Jan 25, 2021 | ACCA, business taxation, property taxation

Do all landlords have to complete a tax return? In short, not necessarily. How much tax is payable depends on the level of profits and the personal circumstances of each individual. We discuss the circumstances where an individual does not require to complete a tax...

Covid-19 – latest updates to CJRS guidance

by Jessica Garbett | Jan 22, 2021 | ACCA, business issues, Covid19

A refresher from ACCA on the CJRS, more commonly known as Furlough, which is extended until the end of April 2021. Coronavirus Job Retention Scheme (CJRS) In response to the most recent lockdown measures, the CJRS has been extended until the end of April 2021....

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Brexit: Summary for VAT impacts

Covid-19 grants for closed businesses

Self Assessment Deadline extended for 2019-20

Landlords and tax returns

Covid-19 – latest updates to CJRS guidance

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