Anna’s Accountancy Alerts – Week 12 (22nd – 28th June 2020)

Business

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Sign Up For Employer Alerts

As HMRC moves more and more digital, it is important employers register to receive email alerts so you are aware of the latest coding changes and important information that is published on the Government webpages

https://www.gov.uk/paye-online

Making An Expenses Claim For Homeworking

If you’ve worked at home because of coronavirus you might have incurred extra costs for which you can claim a tax deduction.

You don’t need to wait until the end of the tax year to claim. Estimate your expenses, tell HMRC and ask them to amend your tax code. Do this by phone, through your Personal Tax Account or by completing Form P87. Report the actual expenses amount on your self-assessment return.

Reduced Working Hours And Tax Credits

HMRC has continued to pay tax credits during the coronavirus lockdown. The government has confirmed its policy is that entitlement to Working Tax Credit (the rate of which depends on how many hours you work) won’t be affected.

HMRC will base your tax credits claim on your normal working hours even if you’re furloughed or, if you’re self-employed, your work has reduced or temporarily stopped.

Stay Up-To-Date With Coronavirus & Brexit News

Coronavirus has affected us all. Whether you’re a sole trader, employer or employee. Stay up to date with the latest news – including government support, tax implications, and more.