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Tax Diary August/September 2021

29/07/2021

1 August 2021 - Due date for Corporation Tax due for the year ended 31 October 2020. 19 August 2021 - PAYE and NIC deductions due for month ended 5 August 2021. (If you pay your tax electronically the due date is 22 August 2021) 19 August 2021 - Filing deadline for the CIS300 monthly return for the month ended 5 August 2021. 19 August...

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Reforming statutory sick pay

29/07/2021

Following its summer 2019 consultation entitled “Health is everyone’s business: proposals for reducing ill health-related job loss”, the government has now published its response which takes into account the impact of the coronavirus pandemic on work and health. The response confirms that the government: will not be...

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SEISS – more red tape

29/07/2021

Government support to the self-employed through the Self-Employment Income Support Scheme (SEISS) is due to end on 30 September 2021. A fifth and final grant covering the period May 2021 to September 2021 will be opened to claims from late July for those who have suffered a significant reduction in trading profits. To qualify for the...

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Tax-free gains on gifts to spouse or charity

29/07/2021

In most cases, there is no Capital Gains Tax (CGT) to be paid on the transfer of assets to a spouse or civil partner. There is, however, still a disposal that has taken place for CGT purposes effectively at no gain or loss on the date of the transfer. When the asset ultimately comes to be sold, the gain or loss will be calculated based on...

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Who pays Inheritance Tax?

29/07/2021

Inheritance Tax (IHT) is commonly collected on a person’s estate when they die but can also be payable during a person’s lifetime on certain trusts and gifts. The rate of IHT currently payable is 40% on death and 20% on lifetime gifts. IHT is payable at a reduced rate on some assets if 10% or more of the 'net value' of their estate is...

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Turnover defined for 5th SEISS grant

29/07/2021

HMRC has published new guidance to help the self-employed calculate their turnover for making a claim under the 5th Self-Employment Income Support Scheme (SEISS) grant. The final date for making a claim for the 5th grant will be 30 September 2021. The figures will be used to compare turnover in the pandemic year from April 2020 - April...

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Who counts as CIS contractor or sub-contractor?

29/07/2021

The Construction Industry Scheme (CIS) is a set of special rules that affect tax and National Insurance for those working in the construction industry. Businesses in the construction industry are known as 'contractors' and 'subcontractors' and will need to be aware of the tax implications of the scheme. Under the CIS, contractors are...

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Continuous employment defined

29/07/2021

When a new employee is added to the payroll it is the employers' responsibility to ensure they meet the employees’ rights. One of the issues that must be considered is the employees’ length of continuous employment. Continuous employment is calculated from the first day of work without a break. The length of continuous employment gives...

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Updated working safely guidance to apply from 19 July 2021

22/07/2021

With England having moved to step 4 of the roadmap out of lockdown from 19 July 2021, the government has published updated guidance on working safely during coronavirus. The guidance, which is to be kept under review, has been re-categorised into the following six sector-specific guides: construction and outdoor work events and...

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New COVID-19 vaccination guidance for employers

22/07/2021

Public Health England has published a new guide for employers on COVID-19 vaccination. The guide encourages employers to support the government’s COVID-19 vaccination programme and it covers the following subjects: why supporting vaccination of employees against COVID-19 is important what employers can do to support the vaccination of...

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Norwich, NR1 1RS

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mail@sexty.co.uk

Tel: 01603 629504
Fax: 01603 760901

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2a Church Street

North Walsham, Norfolk, NR28 9DA

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Tel: 01692 403272
Fax: 01692 500102


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