HMRC has announced that Self-Assessment customers will not be charged the initial 5% late payment penalty if they pay their tax or make a Time to Pay arrangement by 1 April 2021.
The ESF have announced that there will only be a single Academies Budget Forecast Return this year, combining the requirements of the BFR (usually required at the end of May) and BFR(3Y) (usually required at the end of July).
As we approach the end of the 2020/21 tax year, now is the ideal time to make sure you are making use of all the available allowances to benefit your overall tax position.
The government have recently announced that businesses that took out Bounce Back Loans to get through the pandemic will now have greater flexibility via the Treasury’s Pay as You Grow repayment options.