Reporting your property disposal within 30 days isn’t the end of things!
For the first time, taxpayers who reported one or more capital gains tax (CGT) property disposals under the 30-day rules which came in on 6 April 2020 are having to work out how this interacts with their Self-Assessment (SA) tax return. Sadly, it’s not as straightforward as you’d like to think!
800,000 claim tax relief for working from home
HMRC has confirmed that almost 800,000 employees who have been working from home during the pandemic have already claimed tax relief on household related costs.
440,000 tax credit claimants still to renew their claims
HMRC is reminding tax credit claimants that they have until 31 July 2021 to renew their claims.
Over 280,000 families now using Tax-Free Childcare
More than 282,000 working families used a Tax-Free Childcare (TFC) account during March 2021, according to figures from HMRC.
Property tax changes
From 1 July 2021 there are changes to the Stamp Duty Land Tax (SDLT) and Land Transaction Tax (LTT) bands for residential property.
Final round of Covid support for self-employed announced – but HMRC is flexing its muscles to claw back overpayments
The disappointment in the hospitality and travel sectors in particular about the pushing back of the so-called Freedom Day by four weeks has been very evident in the media since the announcement was made by Boris Johnson – but for the self-employed, support continues to be in place, and will be right through until September.
Tax implications and employee benefits
As a business owner we are all too aware of the importance of the various ‘clogs’ in the business machine. One of the most important elements of this are your employees.
Summer holiday Tax-Free Childcare reminder
With the summer holidays approaching, HM Revenue & Customs (HMRC) are reminding working families that Tax-Free Childcare top-ups can be used to help pay for childcare costs, such as accredited holiday clubs, childminders, or sport activities.