Winter 2020/21 Newsletter

HMRC have issued guidance confirming that from 31 March 2026 their online filing service for company accounts and tax returns will close.

Further information has been released by the Government on the increase in the trading allowance rate and when this will come into effect, but beware; the £3,000 is not a tax relief increase, only an administrative increase.

If you are a taxpayer and you are concerned that you cannot pay your tax bill on time, you have the option to set up an online “time to pay” arrangement with HMRC.  This means you can spread the cost of you tax bill over a period of 6-12 months, helping improve cash flow.

Further to our article in December 2024 and with the tax regime for furnished holiday lettings ending in April 2025, there are practical issues that affected property owners need to know about.