HM Revenue & Customs (HMRC) has warned businesses to watch out for tax scams ahead of the 31 January Self Assessment Deadline.
COVID-19: enhanced payment plans for Self-Assessment individuals
To help reduce any financial stresses as a result of the pandemic, HM Revenue & Customs (HMRC) has amended the instalment arrangements for paying tax liabilities for Self-Assessment taxpayers – increasing the threshold from £10,000 to £30,000.
The most common Self Assessment errors, according to HMRC
With less than two months to go until the 31 January Self Assessment deadline, HM Revenue & Customs (HMRC) is calling on taxpayers to get their annual return right the first time around. It comes after research revealed that approximately 90,000 tax returns were rejected or delayed in 2019. To help taxpayers avoid errors, HMRC […]
The VAT reverse charge – What the property and construction sector need to know
On 1 March 2021, businesses within the Construction Industry Scheme (CIS) must record, report and pay VAT under the new VAT domestic reverse charge rules.
Government has instructed fraudulent coronavirus loan applications to be reported
To get ahead of the anticipated rise in company collapses next year, the Insolvency Service has instructed insolvency practitioners to report all fraudulent coronavirus loan applications to them. This executive agency of the Department for Business, Energy and Industrial Strategy, has written to companies warning that “if it appears that a person has applied fraudulently” […]
Reclaiming your time: steps to take to increase efficiency and achieve goals
With everything that 2020 and the coronavirus pandemic has thrown our way, you must consider taking steps to reclaim your time to achieve any business-related goals you have.
HMRC temporarily suspends activation code requirement for new Self Assessment taxpayers
New Self Assessment taxpayers will no longer need to wait for an activation code to be sent in the post before they can access their personal tax account, it has been revealed.
Coronavirus: Pubs in tier two and three areas set to receive new £1,000 grant funding
Pubs that principally serve alcohol in tier two and three areas are set to receive additional financial support over the Christmas period following an announcement by the Government.
Advisory Fuel Rates: updates from 1 December 2020
HM Revenue and Customs (HMRC) has updated the Advisory Fuel Rates (AFRs) which come into effect on 1 December 2020, for company car drivers requiring fuel costs from their employer. However, you can use the previous AFRs for up to one month from the date of the new rates.