Small Businesses
Remember to file your online tax return by the deadline
The deadline for filing paper tax returns will pass on 31st January 2022. If you think that you could miss the deadline, don’t worry; you may be given an extension up to 28th February 2022 to submit your tax return online, speak to us directly if you are worried that you won’t make the deadline…
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Remember to file your online tax return by the deadline
The deadline for filing paper tax returns passed on 31 October 2021. If you missed it, don’t worry; you still have until 31 January 2022 to submit your tax return online. By this date, you must have submitted your return for the 2020/21 financial year and paid off any tax you still owe for the…
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Now is the time to think Self Assessment
The deadline for tax self-assessments is fast approaching, and now is the best time to start planning to make their payments. The deadline for the 2020 to 2021 tax year digital tax return is January 31 2022. Everyone knows the process of making sure every invoice is correct and every receipt is accounted for always…
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How will the new UK budget effect property and investors?
On Wednesday Chancellor Rishi Sunak revealed a bumper £150 billion worth of spending in his new UK budget, as well as a variety of reforms and tax changes. He said he was presenting a “new age of optimism” with his “generous” Budget promising public spending increases of 3.8% a year in real terms. The Chancellor…
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Tax Rates and Thresholds for 2021/22
The current tax year runs from 6th April 2021 until 5th April 2022. In his 2021 Budget announcement, Chancellor Rishi Sunak set out the tax rates and thresholds for the year. These have large implications for small and medium-sized businesses, especially in light of the economic instability created by the coronavirus pandemic. It’s crucial that…
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Budget 2021: Key Points
In his recent Budget 2021 announcement, Chancellor Rishi Sunak set out the UK Government’s spending plans for the next fiscal year. It aims to start rebuilding public finances as we move out of the coronavirus pandemic whilst continuing to protect jobs and livelihoods. As such, it contains a mixture of measures, many of which relate…
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The tax year end is approaching- it’s time to start your tax planning
The tax year ends on 5 April 2021. Income after that falls into the next tax year ending in 2022. So with the tax year end fast approaching, it is not too late to make the most of what is available in terms of tax exemptions and benefits. Please be aware that tax rules and…
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How to submit a deferred VAT payment
On 20 March 2020, the Government announced that VAT payments could be deferred between that date and 30 June 2020, as part of measures to support businesses through the coronavirus pandemic. This deferment option was available to all VAT-registered businesses in the UK and was automatic, meaning it was not necessary to apply to HMRC. …
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31 January is the Self Assessment Tax Deadline
Last month, we reminded you about the 31 January deadline for filing Self Assessment tax returns and explained what you need to do. Now, with less than two weeks to go, it is essential you check with your tax advisor or accountant that your return has been filed correctly for the tax year that ended…
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Remember to file your online tax return by the deadline
The deadline for filing paper tax returns passed on 31 October 2020. If you missed it, don’t worry; you still have until 31 January 2021 to submit your tax return online. By this date, you must have submitted your return for the 2019/20 financial year and paid off any tax you still owe for the…
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Prepare for the end of the Brexit transition period
The UK has left the EU, and the Brexit transition period ends on 31 December 2020. This means UK businesses will need to make immediate preparations for the changes coming into effect on 1 January 2021. The main changes affecting businesses relate to imports, exports, tariffs, data and hiring. In this post, Manchester-based MCC Accountants…
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Update to our Update: Coronavirus Government Business Support
On 5th November 2020, Chancellor Rishi Sunak announced changes to the government support packages for businesses that were previously extended on 12th October 2020. This means that businesses will receive additional support from the government to help them through the pandemic during the coming winter months. Coronavirus Job Retention Scheme (CJRS) The Chancellor has announced…
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