For some, retirement might feel miles off, but the sooner you can start saving for it, the better.
From 1 March 2021, if your VAT-registered business provides certain supplies of construction services to another business you may no longer need to charge them VAT. This is because your customer may need to account for it under the new domestic reverse charge for construction services.
HM Revenue and Customs (HMRC) have announced that Self-Assessment taxpayers will not be charged the 5% late payment penalty if they pay their tax or set up a payment plan by 1 April 2021.
What do I need to do?
We have seen some turbulent markets in the last 12 months, with the repercussions of COVID having a significant impact. Generally speaking, markets have partially recovered but remain extremely volatile.
Each year a Practice is required to submit to PCSE by 1 March an ‘Estimate of Pensionable Profits’ form for the forthcoming pension year commencing on 1 April.
The government-backed Bounce Back Loans that businesses took out to get through Covid-19 now have further flexibility to repay their loans. This is available to more than 1.4 million businesses who took out nearly £45 billion through the scheme.