Monthly Archives: December 2020

The claims portal for the third SEISS grant opened on the 30th of November.  However, there have been changes to the eligibility criteria and taxpayers must declare that their trade has been impacted by reduced demand before they claim the third grant. “HMRC expects you to make an honest assessment about whether you reasonably believe your business will have a significant reduction in profits.” To make a claim for the third SEISS grant, your business must have had a “new or continuing impact from coronavirus between the 1st of November 2020 and the 29th of January 2021, which you reasonably […]

For those businesses that opted into the government’s COVID-19 VAT payment deferral scheme, the new guidance that outlines the further extension of deferral has been released by HMRC. The scheme which allowed for VAT payments falling due between 20 March 2020 and 30 June 2020 to be deferred until 31 March 2021 is to be extended for organisations that still have deferred VAT payments to make. Opt In To The VAT Payment Deferral Scheme By opting in to the new VAT payment deferral scheme when it launches in 2021, the option to pay in instalments instead of one bulk payment […]

Self Assessment Time To Pay

It’s that time of year again as we start the process of preparing self-assessment tax returns for our clients. This year however things are a little different, due to changes to the Self Assessment Time To Pay service. Al self-assessment tax returns must be submitted and the 31st of January, however, it is best not to wait until the deadline because not only does the tax return need to be filed you also need to arrange payment for any personal tax due by the payment deadline. Time To Pay Online Service Self Assessment taxpayers can apply online for additional support […]