The pandemic has forced businesses and individuals to adapt quickly to constantly changing rules and regulations. There are still many unknowns ahead, but there are some things small businesses can start to plan for - these include a number of developments set to impact payroll in 2021.
Just before Christmas, the Chancellor extended the furlough deadline as the third lockdown was announced. And in April, off-payroll working rules will shift the responsibility for determining the tax status of contractors.
Xero have created a blog to explain what’s changing, and how small businesses can plan for these updates. I thought you might find it useful. Just click here to read the blog.
Sharron, Westwood Accountancy