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Limited time penalty waivers for your 2020/21 tax return

penalty waivers for 2020/21 tax returns

Didn’t manage to file your tax return by the deadline of the 31st of January?  Don’t panic! To help taxpayers and advisers affected by the surge in Covid-19 cases as a result of the Omicron variant, penalty waivers will apply for a limited time where the 2021/22 tax return is filed late or where tax … Read more

Struggling to pay tax – What should you do?

struggling to pay tax

The January self-assessment payment deadline is not well timed, falling as it does in a month when people may be already struggling to pay their Christmas credit card bills. However unpalatable the 31 January tax deadline is, it is not one that should be ignored. Taxpayers who are within self-assessment will need to pay any … Read more

Reporting Covid-19 Support Payments on your tax return

Covid-19 Support

If you are self-employed and you received Covid-19 support payments during the pandemic, you may need to report these on your self-assessment tax return. If you are an employee and you were furloughed and received furlough grants under the Coronavirus Job Retention Scheme, these were liable to tax under PAYE and liable to National Insurance … Read more