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HMRC has so far resisted calls to extend the forthcoming Self Assessment tax return deadline on 31 January and an easing of the late filing penalties also appears highly unlikely at this stage. Despite this there are options available to those facing difficulties, particularly late...[more]
Below we have summarised the latest position on a number of financial measures to assist businesses and individuals with Covid-19. Should you wish to discuss matters further, please contact your relationship partner or email us mail@sgllp.co.uk (last updated 22 January 2021) VAT Deferral A reminder...[more]
In place since 2017, the Trust Registration Service (TRS) requires any trust which has a tax liability to be registered with HMRC. When the system was first introduced, trustees were only required to initially register trusts. However, HMRC updated their reporting process in September 2020,...[more]
The Office of Tax Simplification (OTS) has published its report on Capital Gains Tax, which looks at how the difference in the way the levy is calculated compared to Income Tax can distort people’s behaviour. Corporate Tax Partner, Paul Twydell, has highlighted some of the...[more]
We are very pleased to welcome Paul Twydell, who joins us as a Partner to head up our Corporate Tax team. Previously with a Top 25 firm for the past seven years, he is known for his exceptional work in the creative, media and technology...[more]
Bas Kundu recently returned to Simmons Gainsford as our Head of Real Estate and Transactional Tax Services. Previously with us for just over four years, he is reprising his part-time role to continue his excellent work across the property sector as well as M&A, transactions...[more]
HMRC recently updated their guidance on settling Loan Charge liabilities. There is a new section 4 which provides guidance for those that didn’t complete a tax return by the deadline. Self Assessment customers who did not file their 2018 to 2019 return by 30 September...[more]
The recently announced extension to the Self-Employment Income Support Scheme (SEISS) will be limited to those currently eligible (although they do not have to have claimed previously) who are actively continuing to trade but are facing reduced demand due to Covid-19. There will be two...[more]
Rishi Sunak's new support package to replace the furlough scheme will open on 1 November 2020 and run for 6 months, until April 2021. How will the Job Support Scheme work? Claims can be made from December 2020 and will be paid on a monthly...[more]
The Government's Kickstart Scheme has now opened to assist young people on Universal Credit aged between 16-24 to find six month work placements. The Government will pay 100% of the age-relevant National Minimum Wage, National Insurance and pension contributions for 25 hours a week. Employers...[more]
In the sixth instalment of our Summer Financial Focus, here at SG Financial Services we look at how the state benefit system has come under more intense scrutiny during the pandemic and highlighted some serious gaps. There is nothing quite like a crisis to show...[more]