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February 2021

Tips for businesses to positively emerge from lockdown stronger and fitter

Whilst HM Government’s tougher restriction measures at the start of 2021 will continue to have an adverse impact for many people and businesses, there are reasons why the outlook for 2021 is more positive.  

Will you be affected by the National Living wage and National Minimum wage rises in April 2021?

Following recommendations made by the Low pay commission (LPC) at the end of October 2020 the government has confirmed that the National minimum wage (NMW) and National Living Wage (NLW) will both be increasing from the 1 April 2021. 

INTERNAL SCRUTINY FOR ACADEMIES

Are you aware of the changes to the UK's auditing and Ethical standards and how it will affect academies? 

Extension to the VAT deferral scheme

Organisations were able to take advantage of the Coronavirus VAT payment deferral scheme in 2020 but with a repayment deadline approaching HMRC have made these options available for those which still need to pay.

Tax Diary February/March 2021

Important dates for your tax diary in February and March 2021.

Repay private petrol and save tax

Is the myth of having your private fuel costs for your company car covered by your employer being a good thing, true?

Sage updates tax codes post Brexit

Sage has introduced new tax codes to make the process of recording EU and non-EU imports easier, following the announcement of the Brexit agreement.

Time To Pay threshold increase

In October, HMRC increased the threshold of self assessment liabilities from £10,000 to £30,000 for individuals setting up Time to Pay arrangements.