As we grapple with COVID-19 which has left our nation's finances in tatters with escalating debt by the day, it's hard for any business to plan for the future with so much uncertainty about the economy ...
But I do have some key dates we can build our plans around:
- 29th January - The third self-employed grant scheme comes to an end. The fourth and potentially final grant opens in February
-31st January - The electronic filing deadline for self-assessment tax returns. Tax payment date including the tax-deferred from 31 July 2020
- 21st February - The winter truce to prevent landlords from evicting residential tenants comes to an end. There are exceptions such as those tenants that are nine months behind in paying rent or where there is a case of domestic abuse
-3rd March - The proposed budget day, having been postponed from last November. Will there be tax hikes to help deal with the escalating debt caused by Covid-19?
-31st March - The stamp duty holiday ends. Will the Chancellor extend it? Applications for The Corona Business Interruption Loan Scheme and Bounceback Loans come to an end. The current Property Help to Buy Scheme comes to an end
-5th April - The end of the tax year. Remember to use up your pension and ISA contribution allowances if you are in a position to do so
-6th April - The start of the 2021/22 tax year. Stricter IR35 comes into force. IR35 is aimed at contractors operating through limited companies and the changes are making the contractor determine the employment status
-30th April - The furlough scheme is currently set to end
-31st July - Tax payment date
-5th October - Deadline to notify HM Revenue & Customs of new self-employed businesses, untaxed income or capital gains
-October/November - Budget Day
I hope these key dates are useful to you.
If you feel inspired to find out more about anything I've said here, do call me on 01908 774320 or leave a comment below and I'll be in touch as soon as I can.