From today (6th April 2021), all public sector clients and medium or large-sized private sector clients will be responsible for deciding their worker’s employment status. This includes some charities and third sector organisations. If the off-payroll working rules apply, your worker’s fees will be subject to Income Tax and National Insurance contributions. For further information,…
Domestic Reverse VAT Charge for Building and Construction Services Croner-i have provided the following notes regarding the new rules: Overview The domestic reverse charge (referred to as the reverse charge) is a major change to the way VAT is collected in the building and construction industry. It comes into effect on 1 March 2021 and…
Taxation of the Self-Employment Income Support Scheme Grant (SEISS) All SEISS amounts received will be subject to income tax and National Insurance contributions and will need to be included on your Tax Return. Croner Taxwise have released some notes providing further detail on this, which we should suggest that you have a read through: https://www.cronertaxwise.com/community/my-vip-tax-team-question-of-the-week-taxation-of-seiss-grants/…
March 2021 Budget Notes The following notes are not intended to be a comprehensive narrative on all of the Budget announcements but rather a summary of the items that we believe may be of value to clients. Please do let us know if you require any clarification or if there are any items that you…
Deferral of VAT Payment If you took advantage of the option to defer any VAT payments due between 20th March 2020 and 30th June 2020 then you will soon need to consider how you are going to settle the liability. If you wish to make payment in full then this will need to be done…
Extension to the Coronavirus Job Retention Scheme (CJRS) and the Self-Employment Income Support Scheme (SEIS) The following notes have been provided by HMRC: Extension to the Coronavirus Job Retention Scheme Today the Chancellor has announced that CJRS will be extended until the end of March 2021 for all parts of the UK. For claim periods…