Monthly Archives: December 2021

Travel between places of work

A reimbursement of expenditure incurred by an employee in travelling between two or more places of work is not “earnings” and therefore not taxable. This is because the expenditure would be an allowable claim if the employee had paid it out of their remuneration, as he or she would be travelling in the performance of…
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Planning for higher corporation tax rates

We are fifteen months away from a radical upward lift in corporation tax (CT) rates. From 1 April 2023, there will be two rates of CT: A small profits rate which will stay at the present 19% and will apply to companies with profits up to £50,000. An increased main rate, which will be set…
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Tax Diary December 2021/January 2022

1 December 2021 - Due date for corporation tax payable for the year ended 28 February 2021. 19 December 2021 - PAYE and NIC deductions due for month ended 5 December 2021. (If you pay your tax electronically the due date is 22 December 2021). 19 December 2021 - Filing deadline for the CIS300 monthly…
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Budget bad news 27 October 2021

Readers should take note of the following changes: Income Tax Allowances frozen: The Income Tax personal allowance and the rates and bands are frozen until April 2026. Whilst this is not a direct tax increase, it does mean that any increases in earnings will be fully taxed and certain taxpayers may find that this process…
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