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Tax Credits Renewals

tax credits renewal

HMRC will be sending out 2.5 million tax credits renewals packs from this week. Tax credits customers should check the details and report any change in circumstances to HMRC. The packs will be sent out within the next 6 weeks and all should of received them by 4th June 2021. HMRC recognises that many tax … Read more

Additional Restrictions Grants

Additional Restrictions Grants

The Additional Restrictions Grants scheme is open until April 30th 2021. The Buckinghamshire Additional Restriction Grant scheme is open for applications until April 30th. Buckinghamshire Council has reopened the scheme for two additional rounds of funding for businesses heavily impacted by COVID-19 restrictions during February 2021 and March 2021. Businesses can apply for both rounds of funding through … Read more

4th SEISS claims

4th SEISS claims

The online service for applications for the 4th self employment income support scheme (SEISS) claims is now open. All applications must be submitted by the individual self employed worker and cannot be handled by accountants or tax advisers. It is expected that up to 600,000 self employed individuals will be able to apply for the … Read more

Working from Home Tax Relief

working from home tax relief

Employees working from home due to the coronavirus pandemic can continue to claim tax-relief on costs not reimbursed by their employer, but a new claim will need to be made for the 2021/22 tax year. Normally, employers can pay a tax-free allowance of up to £6 per week/£26 per month to employees required to work … Read more

Self Assessment Payment Plan

Self Assessment Payment Plan

The deadline for paying outstanding tax liabilities or setting up a Self Assessment payment plan is the 1st April. This will avoid incurring penalty charges for Self Assessment. Last month, HMRC said that due to the impact of the COVID-19 pandemic, they were giving Self Assessment taxpayers more time to pay their tax or set … Read more

Tax-Free Childcare

Tax free Childcare HMRC

Families reap the benefits of Tax-Free Childcare Families using their Tax-Free Childcare accounts to pay childcare costs are benefiting from a government top-up worth up to £500 every three months. However thousands of families across the UK are missing the chance to save money on childcare. The scheme allows parents or carers who have children … Read more

Recovery Loan Scheme

Recovery Loan Scheme

The Recovery Loan Scheme ensures businesses of any size can continue to access loans and other kinds of finance up to £10 million per business once the existing Covid-19 loan schemes close. This will provide support as businesses recover and grow following the disruption of the pandemic and the end of the transition period. The … Read more

SEISS Fourth Grant

self employment income support scheme

With the upcoming SEISS fourth grant HMRC have issued new guidance. The SEISS (Self-Employment Income Support Scheme) has been extended until September 2021 there have been some changes to the eligibility. This will now be based on the submitted 2019-20 tax return. Who can claim To be eligible for the fourth grant you must be … Read more

Budget 2021

Budget 2021

As part of the Budget released 3rd March, 2021 the UK Government has announced further support for employers and the self employed. Help for Employers: The personal tax allowance will increase from £12,500 to £12,570 for the new tax year 2021-22 and the plan is to keep it at this level until 2026. The higher … Read more