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.
New laws to ensure businesses can trade freely between all four parts of the UK at end of transition period
New laws approved this week will ensure that no “harmful barriers” will be imposed on trade between the four parts of the UK at the end of the Brexit transition period, it has been announced.
Coronavirus furlough and loan schemes further extended
As businesses prepare to enter a new year, the Chancellor Rishi Sunak has confirmed a further extension to the Government-backed loans and Coronavirus Job Retention Scheme (CJRS). In a move that the Chancellor said would provide “certainty for millions of jobs and businesses”, the Government has extended the furlough scheme until the end of April […]
UK Trader Scheme to support movement of goods between Britain and Northern Ireland
The UK Trader Scheme (UKTS) has now been launched to support businesses moving goods between Great Britain and Northern Ireland after the Brexit transition period ends. Here’s what you need to know: What is the UK Trader Scheme? Simply put, the UKTS will ensure that UK traders do not pay international tariffs on the movement […]
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.
The UK – A great place for tech to do business
The last year has been tough for the UK economy and there remains a lot of uncertainty about the country’s position once the Brexit transition period ends, regardless of whether a deal is done or not.
Four key challenges for recruitment in 2021
Many sectors are now looking forward to leaving 2020 behind and are hopeful for a brighter future in 2021 and beyond.
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” […]