Waltons blog

Tees Valley Mayor Ben Houchen is urging small and medium-sized busineses from across the region to take advantage of new funding and advice to help them become more energy efficient and save money, following the launch of a new scheme on 10 March 2021. Companies could...

As many of you may know, ordinarily tax liabilities are due by 31 January, following the end of the tax year. 2020/21 has been anything but ordinary, and as a result, HMRC had confirmed that the initial 5% late payment penalty on Self-Assessment tax would not be...

Just over a week since the Spring Budget on 3 March 2021, and looking back, it's understandable that with the country still in the midst of the Covid-19 crisis, but hopefully with the roadmap to light at the end of the tunnel, it is not surpirising The Chancellor...

    With just a couple of days to go, how do we try and predict what changes Chancellor Rishi Sunak and the Government may have in store for the tax system, come the Budget this Wednesday, 3 March? Where to start? We know since the Covid Crisis began early last year...

    REMINDER: 2020 SELF-ASSESSMENT FILING DEADLINE EXTENDED TO28 FEBRUARY 2021     Don't forget you have until 28 February 2021 to file your 2020 Self-Assessment return. HM Revenue & Customs have now announced Self Assessment taxpayers will not be charged the 5% late...

    EXTENSION TO ANNUAL INVESTMENT ALLOWANCE (AIA)     If your company/business has its latest year end on 31 March 2021 or 5 April 2021, don’t forget to make use of the extension to Annual Investment Allowance by acquiring any new equipment, machinery etc you may...

  CONSTRUCTION INDUSTRY VAT REVERSE CHARGE - 1 March 2021     The new domestic reverse charge will now come into effect from 1 March 2021. -        Are you organised? -        Have you considered how the changes might affect you?  -        Have you considered cash...

    IR35 Off-Payroll Working … Changes from 6 April 2021   IR35 changes, originally due to come in last year but delayed because of the Covid-19 pandemic, will take effect from 6 April 2021.  This will alter the rules for engaging individuals through personal service...

  BREXIT NEWS   The UK and the EU Continue to discuss the recent problems surrounding the implementation of the new trading rules for Northern Ireland.  Whilst both parties declare their commitment to the Northern Ireland Protocol (NIP), it is clear the confusion at...

Construction sector: Reverse charge VAT Those working in the UK’s construction industry will have to handle and pay VAT differently from 1 March 2021, unless there’s another last-minute Government U-turn. This is when the VAT domestic reverse charge for building and...

  ANNUAL INVESTMENT ALLOWANCE REMAINS AT £1M UNTIL 2022 A temporary increase to the annual investment allowance has been extended until 1 January 2022, the Treasury confirmed. The allowance enables firms to fully offset the cost of qualifying capital items of plant...

  How this affects your business will depend on several factors, including the nature of your business and where your customers are located. Data sharing with the EEA is one of the key areas to consider.   The Government has legislated so that UK firms can continue to...