Tax Diary March/April 2021

Tax Diary March/April 2021

1 April 2021 – Due date for Corporation Tax due for the year ended 30 June 2020. 19 April 2021 – PAYE and NIC deductions due for month ended 5 April 2021. (If you pay your tax electronically the due date is 22 April 2021) 19 April 2021 – Filing...
Incorporation relief

Incorporation relief

When a taxpayer owns a business as a sole trader or in partnership, a capital gain will be deemed to arise if the business is converted into a company by reference to the market value of the business assets including goodwill. This could give rise to a chargeable...
Calculating Minimum Wage if paid annual salary

Calculating Minimum Wage if paid annual salary

New National Minimum Wage and National Living Wage rates will come into effect on 1 April 2021. These changes will see the National Living Wage increase by 19p to an hourly rate of £8.91 and the National Minimum Wage will increase to £8.36 (a rise of 16p)....