New Covid-19 test rule for UK arrivals from Friday 15 January - England19/01/2021
Pre-departure Covid-19 testing will be required for everyone travelling to the UK from 04:00 GMT on Friday. People arriving by plane, train or boat, including UK nationals, will have to take a test up to 72 hours before leaving the country they are in.
How to set and achieve your goals13/01/2021
We have been part of the Xeinadin Group now for nearly 2 years and this allows us to offer further resources to our clients.
This is the start of our blog series on how to set and achieve your goals, which will come in handy for years to come. In this first blog, we’ll talk about why setting goals is important.
Setting goals gives you a...More...
Goals! Set them. Achieve them. Live the life you want!13/01/2021
We have been part of the Xeinadin Group now for nearly 2 years and so are able to offer some extra resources as part of this. One of these is an excellent whitepaper on goals.
What you’ll learn through this whitepaper:
Why set goals?
Top-level athletes, successful people, and high achievers in all fields set goals.
How to set...More...
British Medical Journal finds adherence to COVID-19 rules has been and continues to be high12/01/2021
Interesting findings from research, reported in the British Medical Journal, which finds that adherence to restrictions has and continues to be remarkably high. Thanks to the overwhelming majority.
"The way in which issues of adherence have been portrayed and understood during this pandemic have been spectacularly wrong. If...More...
Can't pay self-assessment tax due by 31.01.2021? Apply for a time to pay arrangement online08/01/2021
Owe some tax under self assessment?
On 31 January (2021) the following tax is due to be paid:
The 2nd payment on account for the tax year 2019/20 (if you deferred it from 31 July 2020);
The balancing payment for the tax year 2019/20;
Your first payment on account for tax year 2020/21.
If these total under £30,000, you...More...
Raising the Next Generation grant opens on 01.02.202107/01/2021
This grant round is targeting and supporting the younger generation who in the current difficult economic climate need support to develop and learn personal financial life skills.
To check if eligible see:...More...
Government help for people in debt20/01/2021
New government proposals have been published that look at further extending debt solutions to help more people suffering from problem debts. The proposals specifically look at increasing the financial eligibility criteria for debt relief orders (DROs), helping more people deal with financial difficulties to get a fresh start.
A DRO is a...More...
Online tax payment plans20/01/2021
New figures published by HMRC have revealed that some 25,000 taxpayers have set up an online payment plan to manage their tax liabilities spreading payments of £69 million for up to 12 monthly instalments.
This follows an increase in the limit for making an online payment plan to £30,000 (previously £10,000) that took effect from 1...More...
Tax when you sell shares20/01/2021
Capital Gains Tax (CGT) is normally charged at a simple flat rate of 20% when you sell shares unless they are in a CGT free wrapper such as an ISA or pension.
If you only pay basic rate tax and make a small capital gain you may only be subject to a reduced rate of 10%. Once the total of your taxable income and gains exceeds the higher...More...
Tax returns filing deadline is fast approaching20/01/2021
The approaching deadline for submitting 2019-20 Self-Assessment tax returns online is 23:59 on Sunday, 31 January 2021. The filing deadline is not just the final date for submission of your Self-Assessment tax return but also an important date for payment off tax due to HMRC. This includes the payment of any balance of Self-Assessment...More...
Simplified expenses motor vehicles20/01/2021
There are simplified arrangements in place for the self-employed (and some partnerships) to claim a fixed rate deduction for certain expenses where there is a mix of business and private use. The simplified expenses regime is not available to limited companies or business partnerships involving a limited company.
The fixed rate deduction...More...
Striking companies from Companies Register20/01/2021
There are a limited range of circumstances when a company can request to be removed from the register (known as being struck off). For example, a voluntary strike off can be requested by a dormant or non-trading company.
A limited company can be closed down by getting it 'struck off' the Companies Register, but only if it:
Basics of CGT Rollover Relief 20/01/2021
Business Asset Rollover Relief is a valuable relief that allows you to defer payment of CGT on gains made when you sell or dispose of certain assets and use all or part of the proceeds to buy new assets. The relief means that the tax on the gain of the old asset is postponed. The amount of the gain is effectively rolled over into the cost...More...
Government publishes plan for the largest vaccination programme in British history19/01/2021
Tens of millions of people will be immunised by the spring at over 2,700 vaccination sites across the UK, the government has announced as part of plans to rapidly scale up the COVID-19 vaccination programme.
The UK COVID-19 vaccines delivery plan sets out how the government will work with the NHS, devolved administrations, local councils...More...
Government tackles late payment to small firms18/01/2021
The Government has announced an overhaul of the Prompt Payment Code (PPC).
Under the new reforms, companies that have signed up to the PPC will be obliged to pay small businesses within 30 days - half the time outlined in the current Code.
Despite almost 3,000 companies signing the Code, poor payment practices are still rife, with many...More...
Rights to regenerate17/01/2021
We will soon have the rights to turn derelict buildings into homes and community assets. In a recent press release the Ministry of Housing said:
The public will be able to convert vacant plots of land and derelict buildings into new homes or community spaces, under plans announced 16 January 2021 by the Housing Secretary, Robert Jenrick...More...
CJRS guidance on who can be furloughed13/01/2021
HMRC’s guidance on which employees can be placed on furlough using the Coronavirus Job Retention Scheme has been updated. The scheme will continue until at least 30 April 2021.
The updated guidance includes new information about employees who are unable to work because they have caring responsibilities resulting from coronavirus...More...
VAT Reverse charge for construction sector13/01/2021
A further reminder that new VAT rules for building contractors and sub-contractors will come into effect from 1 March 2021. The new rules were originally expected to commence from 1 October 2019, but an initial 12 month delay was announced. The start date was then delayed for a further 5 months until 1 March 2021 due to the impact of the...More...