CORONAVIRUS (COVID-19) - USEFUL INFORMATION

NEWS

IMPORTANT INFORMATION

March 11, 2020

Summary of annoucements

"Measures announced by Chancellor Rishi Sunak in the Budget." - gov.uk

March 31, 2019

Current rates apply from April 2019

"The National Minimum Wage rate per hour depends on your age and whether you’re an apprentice - you must be at least school leaving age to get it." - gov.uk

The national minimum wage for 21-24 is £7.70, 18 to 20 is £6.15 and under 18 is £4.35.

The national living wage (25+) is £8.21.

The minimum wage for apprentices aged 16 to 18 and those aged 19 or over who are in their first year is £3.90. All other apprentices are entitled to the National Minimum Wage for their age.

November 22, 2017

Summary of annoucements

"We express our resolve to look forwards not backwards." - gov.uk

March 16, 2016

Reduction to CT main rate

The measure reduces the CT main rate to 17% for the Financial Year beginning 1 April 2020.

This is an additional 1% cut on top of the previously announced CT main rate cuts which reduced the CT main rate to 18% from 1 April 2020.

January 17, 2016

Important information for employers

"From 1 April 2016 workers in the UK aged over 25 earning the minimum rate of £6.70 per hour will see a 50p increase." - gov.uk

The national living wage for workers over 25 will be £7.20 per hour, from 1 April 2016.

Please reload

National Minimum Wage

AGE                       RATE                   

25+*                       £8.21 per hour

21 and over          £7.70 per hour

18 to 20                 £6.15 per hour

Under 18               £4.35 per hour

Apprentice^         £3.90 per hour

*National Living Wage for aged 25 and over.

^This rate is for apprentices aged 16 to 18 and those aged 19 or over who are in their first year. All other apprentices are entitled to the National Minimum Wage for their age.

Self Assessment

Self Assessment tax returns for the year end 5 April 2020 are to be submitted and paid by 31 January 2021.

 

Missed 31 January deadline - £100

Late payment (30 days) - 5% of tax due

Unfiled after 3 months - £10 per day

Unfiled after 6 months - 5% of tax due or £300*

Unfiled after 12 months - 5% of tax due or £300*

 

*Whichever is greater. Deliberate and concealed withholding - 100% of tax due, or £300 if greater. Deliberate but not concealed - 70% of tax due, or £300 if greater

VAT Returns

VAT returns are to be submitted and paid by 1 calendar month and 7 days after the end of an accounting period, i.e. 31 March VAT quarter end must be submitted and paid by 7 May.

Please reload

We work with executives from:

​© 2020 TD Taxation Services

Privacy Policy

  • w-facebook
  • Twitter Clean
  • w-googleplus