EXPORTING – GETTING AN EORI NUMBER

From 1 January 2021 you need an EORI number to move goods between the UK and the EU. You can apply for your EORI number in advance. It can take up to a week to get one. You will not usually need an EORI number if you: Provide services Move goods between Northern Ireland and[…]

‘TIS THE SEASON

HMRC are not the Grinch after all. They have recently announced that employers may arrange a virtual Christmas party this year and there will be no taxable benefit for employees provided that all staff are invited and the cost per head does not exceed the normal £150 limit. CHRISTMAS GIFTS OF UP TO £50 TO[…]

MORE TIME TO PAY TAX DUE ON 31 JANUARY 2021

Taxpayers who may have difficulty paying the tax due under self-assessment on 31 January 2021 can agree more time to pay with HMRC provided the amount outstanding is no more than £30,000. The government has already agreed that amounts due under self-assessment on 31 July 2020 could be deferred until 31 January 2021, but this[…]

STILL CONSIDERING AN ELECTRIC COMPANY CAR?

There is currently a zero P11d benefit for the drivers of electric cars in 2020/21. The legislation for this change is included in Finance Act 2020 which also states that the benefit will be 1% of list price in 2021/22 and then 2% in 2022/23. The zero taxable benefit also applies to hybrid cars emitting[…]