If there is any Inheritance Tax to pay on gifts you make during your lifetime, it is charged at 40% on gifts given in the 3 years before you die. Gifts made 3 to 7 years before your death are taxed on a reducing, sliding scale known as ‘taper relief’. Years between gift and death…
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Tax Diary June/July 2021
1 June 2021 - Due date for Corporation Tax due for the year ended 31 August 2020. 19 June 2021 - PAYE and NIC deductions due for month ended 5 June 2021. (If you pay your tax electronically the due date is 22 June 2021) 19 June 2021 - Filing deadline for the CIS300 monthly…
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Importing goods for the first time?
If you are new to the import process the following check list will provide you with a rough guide to what you need to do: You need an EORI number that starts with GB to import goods into England, Wales or Scotland. You will need a new one if you have an EORI that does…
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Furlough scheme ends September 2021
There are still a significant number of UK employees that are furloughed. Unfortunately, this scheme is scheduled to end 30 September 2021. Businesses that are struggling to re-establish themselves following the downside effects of repeated lockdown, may be faced with difficult decisions as this deadline approaches. The pundits are expecting a significant rise in the…
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