July 2021 Newsletter

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July 2021 Newsletter

Welcome to the Philip Burley & Co monthly newsletter, bringing you the latest news and information.

Latest news round-up
The Self-Employment Income Support Scheme (SEISS) came as welcome support for many self-employed earners during the Coronavirus crisis. Initially, four grants were available with a fifth and final grant covering May to September 2021. Read More...
Capital Gains Tax - your main residence may not be tax-free
The sale of every property is potentially taxable under the Capital Gains Tax (CGT) rules. When an individual sells their only or main residence, generally the gain is exempt from CGT due to the Principal Private Residence (PPR) relief. Read More...
Are you struggling to pay your tax bill?
The last couple of years have been financially difficult for many and the coming year will bring increased costs - not least utility bills. The July 2022 payment on account tax bill needs to be paid in a few weeks' time and some taxpayers may find it a s Read More...
Tax relief for losses - Coronavirus concession
Those businesses that have struggled through the pandemic may find that when they come to do their accounts where usually there is a profit, the business made a loss. Whether and how that loss can be utilised depends on whether the accounts are prepared u Read More...
June Questions and Answers
I am a basic rate taxpayer and a registered subcontractor having tax deducted at 20% from any income. I understand that I can register for CIS gross status to receive my pay with no deductions. How do I go about this and are there any disadvantages? Read More...
June Key tax dates
1 - Payment of Corporation Tax for accounting periods ending 31 August 2021 1 - Deadline to confirm employees payrolled benefit information. 1 - New Advisory Fuel Rates (AFR) for company car users apply from today. 7 - Electronic VAT return submissio Read More...
About Us

We’re committed to ensuring none of our clients pay a penny more in tax than is necessary and they receive useful tax and business advice and support throughout the year. If you need further assistance just let us know or send us a question from our Question and Answer Section. Philip Burley & Co Accountants are based in Whitby, North Yorkshire, offering local business owners and individuals a wide range of services.


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