Monthly Archives: March 2021

The Finance Bill 2021

An outline of the Finance Bill 2021 has been published and provides the legal framework for changes announced in the recent Budget. We have reproduced below the published text. This is subject to scrutiny by parliament and may change before the Bill receives Royal Assent. The Bill will ensure a number of tax changes set […]

SEISS – the net widens

One aspect of the recent budget will please self-employed business owners that have previously been unable to claim under the Self-Employed Income Support Scheme (SEISS) as they commenced trading after 5 April 2019. As long as you submitted your self-assessment tax return for 2019-20 before midnight 2 March 2021, and you meet the other qualifying […]

Stealth Tax

You may have noticed that a certain phrase came up more than once in the Chancellor’s Budget speech last week. The phrase went something like this: Allowances/rates will be frozen at this level until April 2026. That’s four years of flat-lining rates and allowances and it applies to income tax, capital gains tax, inheritance tax […]

Marriage Allowance claim

HMRC published the following press release on Valentine’s Day 2021. HMRC is encouraging married couples and people in civil partnerships to sign up for a tax break this year. Marriage Allowance offers individuals the chance to transfer part of their Personal Allowance to their husband, wife or civil partner, which could reduce their tax by […]