personal taxatation Archives - Page 15 of 52 - Whitefield Tax - Isle of Wight Accountants

Home office income tax and NIC exemption extended

by Jessica Garbett | Mar 5, 2021 | ACCA, budget, business taxation, personal taxatation

Employers will not be required to report reimbursed expenses when employees need to buy equipment In light of the continuing impact of the Covid-19 outbreak, the temporary income tax and national insurance contributions (NIC) exemption for home-office expenses has...

ACCA – Budget Income tax roundup

by Jessica Garbett | Mar 5, 2021 | ACCA, budget, business taxation, personal taxatation

Here’s our guide to the changes for 2021, including a personal allowance freeze and Covid-related exemptions Income tax rates remain unchanged but personal allowance will be frozen for five years Personal allowance will rise to £12,570 from April 2021. It will...

ACCA Year End Planning Tips

by Jessica Garbett | Feb 25, 2021 | ACCA, budget, business taxation, capital taxation, personal taxatation

With self-assessment season over, now it is time to think about year-end tax planning for their clients. Each year seems to bring with it something new and this year is certainly no exception. The main areas of interest this year will centre around taxpayers seeking...

HMRC relax 5% Late Payment Penalty for 28 February 2021

by Jessica Garbett | Feb 19, 2021 | business taxation, Covid19, HMRC, personal taxatation

Self Assessment liabilities are normally due, subject to Payments on Account made, on 31 January after the tax year, and if paid 30 days late carry a 5% surcharge. For example, for 2019-20, Self Assessment Tax and NI was due 31 January 2021 and the 5% surcharge...

HMRC Warning on Loss of Class 2 NI Credits if Deferring Tax or Using Time to Pay

by Jessica Garbett | Feb 18, 2021 | business taxation, Covid19, HMRC, personal taxatation

HMRC have published an advisory for Self Employed tax payers who are not able to pay all of their 2019/20 Self Assessment liabilities by 31 January 2021. “Payment of 2019 to 2020 Class 2 National Insurance contributions “Self Assessment clients who need to...

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...

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Next Entries »

Home office income tax and NIC exemption extended

ACCA – Budget Income tax roundup

ACCA Year End Planning Tips

HMRC relax 5% Late Payment Penalty for 28 February 2021

HMRC Warning on Loss of Class 2 NI Credits if Deferring Tax or Using Time to Pay

Self Assessment Deadline extended for 2019-20

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