| 03-03-2021
In the year since the Chancellor, Rishi Sunak, delivered his first Budget to a packed Commons chamber in March 2020, more than 135,000 people in the UK have died from Coronavirus, there have been three national lockdowns, the economy has shrunk by 9.9 per cent and Coronavirus support measures have
| 01-03-2021
Around 1.8 million taxpayers missed the 2019/20 deadline for self-assessment on 31 January 2021, according to figures published by HMRC. The tax authority revealed 1,790,368 people failed to beat the midnight deadline, almost double last yearās total of 958,296.
| 01-03-2021
Thousands of small businesses that face severe cashflow problems due to late payments stand to benefit from changes to the prompt-payment code.
| 01-03-2021
A 0.5% increase to the personal allowance and higher-rate of income tax will be in place from 6 April 2021, according to the Treasury. Both thresholds will increase in line with the Consumer Prices Index (CPI) rate of inflation figure for September 2020, which was 0.5%.
| 22-02-2021
Following HM Revenue & Customsā (HMRC) announcement that it is waiving late filing penalties for Self-Assessment taxpayers who file by 28 February, it has now announced that it is waiving the five per cent late payment penalty that usually applies from 3 March for taxpayers who pay or set up
| 16-02-2021
The impact of the pandemic has been felt in many different ways. Some of the effects have been quite immediate, but now many businesses are starting to see how the events of the last year are affecting their annual business insurance rates as well.
| 16-02-2021
Businesses looking to reward and retain staff members may wish to consider offering an electric vehicle (EV) salary sacrifice scheme. Not only are many EVs better for the environment, but they could also offer businesses considerable savings.
| 16-02-2021
A set of consultations on the future of Companies House published in December 2020, include proposals for mandatory digital filing, requirements to tag accountants digitally with IXBRL and shortening filing deadlines to three months for public companies and six months for private companies.
| 16-02-2021
Companies House will pause both the voluntary and compulsory strike-off processes for one month from 21 January until 21 February to support businesses affected by COVID-19, it has been announced.
| 16-02-2021
Due to the ongoing restrictions of the Governmentās Coronavirus response, millions of UK workers continue to work from home. Many may not be aware that they can claim tax relief for additional household costs if they are required to work from home regularly, either for all or part of the
| 16-02-2021
Large and medium-sized businesses now just have a couple of months left to prepare for the changes to the off-payroll working rules (IR35). From 6 April 2021, in most cases, the engager (employer) will be responsible for deciding whether to deduct tax and National Insurance Contribution (NICs) from freelancers and
| 16-02-2021
From 1 March 2021, businesses within the Construction Industry Scheme (CIS) must record, report and pay VAT under the new VAT domestic reverse charge rules. This change affects both contractors and subcontractors and the supply of certain kinds of construction services in the UK.
| 16-02-2021
Due to a mismatch of earnings thresholds, basic rate taxpayers may unexpectedly come under the scope of the High Income Child Benefit Charge in April. The Low Incomes Tax Reform Group (LITRG) has issued a warning to families that they may be subject to a tax charge when claiming Child
| 15-02-2021
The VAT Deferral New Payment Scheme The time to take action is now. Any business that deferred VAT payments due between 20 March and 30 June 2020 as a result of the Coronavirus pandemic, must now consider how they will repay this outstanding tax.