Directors loans and Taxation
If you withdraw more money from your Limited company than there are profits, this is known as a Directors loan.
Local lockdown furlough payments
Local lockdown furlough payments. From 1st November 2020 for 6 months, if your business has been forced to close in a local lockdown area due to coronavirus, you can claim 2/3rds of your staff members salary as a furlough payment up to £2,100 per month per staff member.
Tax relief when working at home
Employees may be able to claim tax relief if they are working from home for their Employer.
National Insurance
If you are paying low amounts of National Insurance to save PAYE, please go to the HMRC website and use your National Insurance number to check your lifetime contributions.
Personal Tax Payments
Remember to pay your second payment on account for personal 2020 tax by 31st July.
CGT and selling a second property
From 6th April 2020 the way you declare your Capital Gain Tax (CGT) to HMRC when selling a second property changes.