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The UK Government’s Business Secretary, Kwasi Kwarteng, has revealed an arsenal of planned reforms to boost competition and protect the public from rip-offs, fraud and exploitation as the pandemic restrictions lift. Plans set out in a new consultation will deliver on the manifesto commitment to ‘give the Competition and Markets Authority enhanced powers to tackle…

1 August 2021 - Due date for Corporation Tax due for the year ended 31 October 2020. 19 August 2021 - PAYE and NIC deductions due for month ended 5 August 2021. (If you pay your tax electronically the due date is 22 August 2021) 19 August 2021 - Filing deadline for the CIS300 monthly…

You can claim up to £1,000 each tax year in tax-free allowances for property or trading income. If you have both types of income, you will qualify for a £1,000 allowance for each. If your annual gross property income is £1,000 or less, from one or more property businesses you will not have to tell…

Charity sponsorship payments are different from donations because your company gets something related to your business in return. Typically, your business brand would be promoted by the charity in some way. You can deduct sponsorship payments from your business profits before you pay tax by treating them as business expenses. Payments qualify as business expenses…