2020/21 tax returns & reporting SEISS grants
The deadline to submit your tax return for 2020/21 approaching, and this time you need to account for any SEISS grants you received.
Making Tax Digital for income tax
From April 2024, MTD for ITSA will replace the self-assessment tax return for most self-employed taxpayers.
Basis period reform & MTD for income tax
Should basis period reforms get the green light, it will impact on LLPs, partnerships, and GP practices who don’t operate to year-ends of 31 March or 5 April.
Get your 2020/21 tax returns in early
You don’t have to wait until on or before midnight on 31 January 2022 to file your 2020/21 tax return. If you have accurate records, get started today.
What income tax might you pay in 2021/22?
Some of the income tax rates and bands in Scotland for 2021/22 should rise 0.5% in line with the September 2020 CPI rate of inflation. What might you pay?
Changes to the tapered pensions annual allowance
Changes to the tapered annual pension allowance kicked in last month, gradually reducing the £40,000 annual pension allowance for those on the very highest incomes.