If you’ve provided taxable benefits and expenses to your employees this year you will need to let HMRC know by 6 July 2021. Employers who provided taxable expenses and benefits to employees during the 2020/21 tax year will need to report these to HMRC, on form P11D by 6 July 2021, unless the benefit or expense has been payrolled or is included within a PAYE Settlement Agreement. Benefits covered by an exemption do not need to be included. Where taxable benefits have been prov

Are you running a family business? You might be eligible to reduce your Class 1 bill by up to £4,000. The Employment Allowance is a National Insurance allowance that enables eligible employers to reduce their employers’ (secondary) Class 1 National Insurance bill by up to £4,000. However, not all employers can benefit – there are some important exclusions. Eligible employers To qualify for the Employment Allowance, the employer’s Class 1 National Insurance liabilities for 202

5% extended to 30 September, 12.5% from October until 31 March 2022. Does your business benefit? To help the hospitality and leisure industry recover from the impact of the first national lockdown, a reduced rate of VAT of 5% was introduced for a limited period from 15 July 2020. The reduced rate of VAT was originally to apply until 12 January 2021. However, in September last year, the Chancellor announced that it would remain at 5% until 30 March 2021. By the time of the Sp

Eligibility and how to apply As lockdown restrictions are eased, businesses may need help to re-open and to recover from the impact of the pandemic. Depending on the nature of the business, they may be eligible for a Restart Grant or a Recovery Loan. Restart Grants The Restart Grant Scheme provides support to help business that were required to close to re-open as lockdown restrictions are eased. The grants are available to businesses in non-essential retail and businesses in