HMRC have issued the following guidance to taxpayers who may have received COVID-19 grants during the 2020-21 tax year. “If you claimed Self-Employment Income Support Scheme (SEISS) or received Coronavirus Job Retention Scheme grants, you’ll need to include details of all the taxable coronavirus support…
Year: 2022
Will your earnings exceed any of these amounts in 2021-22?
£100,000 - Loss of income tax personal allowance Your income tax personal allowance - £12,570 for 2021-22 – will be reduced by £1 for every £2 your adjusted net income exceeds £100,000. If your projected earnings for the current tax year are expected to be…
Tax Diary January/February 2022
1 January 2022 - Due date for Corporation Tax due for the year ended 31 March 2021. 19 January 2022 - PAYE and NIC deductions due for month ended 5 January 2022. (If you pay your tax electronically the due date is 22 January 2022).…
January is tax payment time
As you will see from the tax diary notes this month, there are two significant tax payment deadlines this month. 1 January 2022 – Companies with a 31 March 2021 year end date will need to settle their Corporation Tax payment on or before this…