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Archive:February 2021

Please find below all the articles from February 2021.

Leaving the UK: a look at split-year treatment

According to reports, the number of people leaving the UK during 2020 was “unprecedented”. The Economic Statistics Centre of Excellence reported that as many as 700,000 left London alone in the 15-month period to September 2020. This brings the question of tax residence into sharp focus.


For any given tax year, an individual is either UK-resident or non-UK resident for tax purposes as determined by the statutory residence test (SRT) set out in Finance Act 2013, Sch. 45. However, if they move out of (or indeed into) the…

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Self-assessment – DIY time-to-pay options

The tax return filing deadline for 2019/20 has now passed. However, where taxpayers have struggled to pay any tax they owed by the 31 January deadline, it is still possible to set up an instalment plan – or “time-to-pay” – arrangement. In the right circumstances, this can be done online with no need to contact HMRC by phone.

An online plan can be set up if the taxpayer:

– owes £30,000 or less;
– does not have any other payment plans or debts with HMRC;
– does not…

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Deregistering from VAT

As a result of the Covid-19 crisis, many businesses are currently experiencing reduced turnover. In many cases, the business is VAT-registered, and some owners are asking whether they can now deregister. What are the rules here, and is it always advisable to do so?

There can be a number of motives for VAT deregistration. For example, if the majority of sales are B2C sales, i.e. not to other VAT-registered businesses, the VAT charge is a real cost to the customer. On the face of it, deregistering can possibly offer…

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Latest news round up

Covid-19 – business support

Unsurprisingly, Christmas 2020 was dampened by the ongoing Covid-19 measures. The Prime Minister revised his plans to permit “Christmas bubbles” to be formed between for up to five days between multiple households. In the end, such bubbles were only permitted on Christmas day, and then only for areas that weren’t in tier 4.

The New Year brought further bad news with the announcement of a third national lockdown for England starting on 6 January, lasting until at least mid-February before review. Scotland and Wales had announced…

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