Anna’s Accountancy Alerts – Week 25 (21st – 27th September 2020)

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Self-Assessment Deadlines

Two self-assessment deadlines are approaching:

  • 5th October 2020
    For those individuals who have not previously completed a tax return but need to report a liability for 2019/20.
  • 31st October 2020
    For those individuals who have previously submitted ‘paper’ self-assessment tax returns the deadline for the 2019/20 return is 31 October 2020.

Returns submitted after that date must be submitted electronically or they will incur a minimum penalty of £100. This penalty applies even when there is no tax to pay or the tax is paid on time.

HMRC Has Published The Latest Edition Of The Employer Bulletin.

HMRC has published the latest edition of the Employer Bulletin. This guidance for employers, includes articles on:

  • Coronavirus Job Retention Scheme and what employers need to do from August onwards
  • making sure you are paying the correct workplace pension contributions
  • new laws to ensure furloughed employees receive full statutory redundancy payments
  • the deadline to report the disguised remuneration loan charge – 30 September 2020
  • COVID-19 – are you due a repayment?
  • off-payroll working rules (IR35)
  • Student Loan repayments

Plastic Bag Tax Charge To Be Doubled And Extended To All Retailers

The fee for plastic shopping bags in England will be doubled to 10 pence and extended to all shops from April 2021.

Small retailers, those employing 250 people or fewer, will no longer be exempt.

Government data shows the current levy, which stands at 5 pence per bag and applies to any retailer employing 250 or more people, has led to a 95% cut in plastic bag sales in major supermarkets since 2015.

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.