On 19 November 2020, the Government amended its guidance to give examples of what is meant by a ‘reasonable excuse’, for submitting furlough claims past the deadline.
Businesses urged to file annual accounts early and “go paperless” to avoid Covid-19 disruption
Companies House has urged businesses to file their annual accounts earlier than usual to avoid “last-minute” disruption caused by the coronavirus.
Data protection and Brexit: what you need to know
Small and medium-sized enterprises (SMEs) will have to take extra precautions when using personal data after the Brexit transition period comes to an end, a major regulator has warned. The guidance, published by the Government and Information Commissioner’s Office (ICO), comes as the UK prepares to officially leave the EU on 31 December 2020. To […]
HMRC to investigate Eat Out to Help Out scheme claimants
Registered users of the Eat Out to Help Out scheme (EOTHO) should check their claims to ensure money has not been paid out incorrectly, HM Revenue & Customs (HMRC) has announced.
Daily penalties waived for Self-Assessment late filing
HM Revenue & Customs (HMRC) has confirmed that it will not charge the usual daily penalties for late filing of 2018-19 Self-Assessment tax returns, which were due by 31 January 2020. HMRC says the move is in response to the Coronavirus pandemic and the challenging circumstances taxpayers have faced in recent months. The daily penalties […]
Homebuyers need to start purchases this month to take advantage of Stamp Duty savings
Thousands of people across the UK have purchased new homes to take advantage of the Government’s Stamp Duty Land Tax (SDLT) holiday, but Legal & General Mortgage Club has warned a backlog in the sales and mortgage process means that sales need to be completed quickly. The SDLT holiday announced earlier this year, ends in March […]
HMRC warns taxpayers still aren’t ready for Making Tax Digital
The Director of Making Tax Digital (MTD) at HM Revenue & Customs (HMRC) has warned that “not all taxpayers are ready for a digitalised tax system.” Roy Wallace spoke with the Institute of Chartered Accountants in England and Wales (ICAEW) about the implementation of the new digital tax system after HMRC was criticised by the Public House […]
A quarter of businesses don’t think they will be ready for post-Brexit Britain
A survey of almost a thousand company directors by the Institute of Directors (IoD) has found that nearly a quarter of businesses are not prepared for Brexit and do not expect to be ready by the end of the transition period on 31 December 2020. A further 21 per cent said they were still not […]
HMRC called on to simplify the administration of tax reliefs
The Office of Tax Simplification (OTS) is calling on HM Revenue & Customs (HMRC) to simplify the process of applying for tax reliefs so that fewer taxpayers miss out. In total, the UK has 1,190 tax reliefs, that each require taxpayers to claim or make an election to benefit from them. The OTS in its […]