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.
End of lockdown provides an opportunity for businesses to plan for the future, says Davis Grant
The new tiered system of restrictions for England after 2 December 2020 should give businesses the certainty to plan and recover, according to innovative accountancy firm Davis Grant. As the country begins to emerge from a national lockdown, the firm based in East London is calling on businesses to turn their attention to the future […]
Failure to secure EU data adequacy decision could cost small businesses billions, study reveals
Data processing could cost small businesses up to £1.6 billion should the UK fail to show the EU that it has adequate levels of data protection, a major study has revealed.
Brexit: How to claim grant funding to help cover the costs of completing new customs declarations
If you are a business who imports or exports products overseas, you may be entitled to grant funding to cover the cost of recruiting, training and adapting your business to the new demands of global trade. The grant funding scheme comes ahead of the end of the Brexit transition period, after which the UK will […]
Access to European Union VAT refund system to end on 31 March 2021, HMRC confirms
HM Revenue & Customs (HMRC) has confirmed that access to the European Union VAT refund system for expenses incurred before 01 January 2021 will cease on 31 March 2021. After this date, UK businesses wishing to claim a VAT refund will have to do so manually through the relevant member state’s VAT system. Any expenses […]
Self-employed profits must be “significantly reduced” to claim third SEISS grant, says HMRC
Self-employed workers’ profits must be “significantly reduced” in order to claim the third instalment of the Self-Employment Income Support Scheme (SEISS), it has been revealed.