One of the measures announced by HMRC at the start of the coronavirus pandemic was the introduction of emergency measures to help those affected by COVID-19 using the existing Time to Pay service. Businesses and self-employed people in financial
The UK was unable to zero rate VAT on women’s sanitary products under EU rules and the items were subject to 5% VAT. Following the end of the transition period the UK is no longer bound by the EU VAT Directive which mandates a minimum 5% rate of VAT
The Chancellor of the Exchequer, Rishi Sunak has confirmed that the next UK Budget will take place on Wednesday, 3 March 2021. This will be the Chancellor’s second Budget and will focus on delivering the next phase of the plan to tackle the virus and
Any business that has overclaimed a Coronavirus Job Retention Scheme (CJRS) grant must pay back the overpayment to HMRC. The rules outlined below for paying HMRC back an overclaim also applies to businesses that would like to make a voluntary
Employers should notify HMRC if they have received a CJRS payment to which they are not entitled and pay back any amounts of CJRS grants claimed in error. By paying back any amounts they were not entitled to, employers can avoid any tax liability for
A new press release by HMRC has highlighted that 2,700 taxpayers took the time to file their tax return online on Christmas Day with a further 8,500 taxpayers completing their tax returns on Boxing Day. In total, 31,400 Self-Assessment returns were
The Brexit transition period has come to an end and a new customs border has been created between the UK and EU. If you are moving goods to or from the UK then you need to ensure that you have all the correct procedures in place.
One of the most
It’s official. We are in lock-down 3 in England, Scotland following suit and the other regions expected to enforce similar restrictions.
It is evident that any freeing impact of the vaccine roll-outs will not have sufficient impact before February at
If you have managed to retain profits in your business this fat-on-the-bone will help to see you through loss making periods as we endeavour to emerge from COVID disruption, hopefully, later this year.
How long these reserves may last depends on how
Following a rapid rise in COVID infections, from today 5th January 2021, England has been placed into a new lockdown. Following this the Chancellor has announced £4.6 billion of new lockdown grants to help support businesses forced to close. The