Jessica Garbett, Author at YogaTax

ACCA – Budget Income tax roundup

by Jessica Garbett | Mar 5, 2021 | Tax News

Here’s our guide to the changes for 2021, including a personal allowance freeze and Covid-related exemptions Income tax rates remain unchanged but personal allowance will be frozen for five years Personal allowance will rise to £12,570 from April 2021. It will...

Spring 2021 Budget – First Thoughts

by Jessica Garbett | Mar 3, 2021 | Covid-19, Tax News

Our first thoughts on todays budget. As always these thoughts are “hot of the press” from our review of budget documents published today, and as is often the case there will be some loose ends that will clarify over coming days. As always these thoughts...

Making Sense of the Roadmap out of Lockdown Spring 2021

by Jessica Garbett | Feb 23, 2021 | Covid-19

Today, 22 February 2021, has seen the Prime Minister announce a Roadmap out of the Winter / Spring 2021 Coronavirus lockdown. Below is our interpretation of what this will mean in practice for Yoga Teachers and classes. A few caveats: 1 – The announcement from...

HMRC relax 5% Late Payment Penalty for 28 February 2021

by Jessica Garbett | Feb 19, 2021 | Covid-19, Tax News

Self Assessment liabilities are normally due, subject to Payments on Account made, on 31 January after the tax year, and if paid 30 days late carry a 5% surcharge. For example, for 2019-20, Self Assessment Tax and NI was due 31 January 2021 and the 5% surcharge...

HMRC Warning on Loss of Class 2 NI Credits if Deferring Tax or Using Time to Pay

by Jessica Garbett | Feb 18, 2021 | Covid-19, Tax News

HMRC have published an advisory for Self Employed tax payers who are not able to pay all of their 2019/20 Self Assessment liabilities by 31 January 2021. “Payment of 2019 to 2020 Class 2 National Insurance contributions “Self Assessment clients who need to...

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ACCA – Budget Income tax roundup

Spring 2021 Budget – First Thoughts

Making Sense of the Roadmap out of Lockdown Spring 2021

HMRC relax 5% Late Payment Penalty for 28 February 2021

HMRC Warning on Loss of Class 2 NI Credits if Deferring Tax or Using Time to Pay

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