Big Tax Bills for the Self-Employed in 2022/23
Draft legislation has been published to change the basis periods for the assessment of self-employed profits to coincide with the tax year.
Details of fifth Self Employed Income Support Grant
Like the CJRS scheme for employers, the Self Employed Income Support Scheme (SEISS) has been extended to September 2021 and details of claims for the fifth grant have now been released. This fifth grant covers May to September 2021 and will open for applications in late July.
Reverse charge VAT rules for construction sector started
The new “reverse charge” system of VAT accounting affects sub-contractors supplying their services to main contractors in the construction sector.