More than 370,000 small businesses in England and Wales could be due a payout on their business interruption insurance after the Supreme Court ruled in favour of payments being made on previously refused claims and policies. A number of insurers have lost an appeal against an earlier ruling, brought in a test case by the […]
UK economy shrinks less than first feared after second national lockdown, economists reveal
The UK economy shrunk less than first feared during the second national lockdown, a major report has revealed.
Self Assessment: thousands spread tax liabilities in response to coronavirus disruption
Thousands of self-employed workers have taken advantage of the Government’s extended Time to Pay scheme ahead of the 31 January Self Assessment deadline, a new report has revealed.
Understanding the “Rules of Origin”
Businesses exporting to the European Union need to understand how “Rules of Origin” work to benefit from the UK-EU Free Trade Agreement, as many goods and services exported to the EU will remain tariff-free, providing these rules are met. The Rules of Origin establish the country of origin of imported and exported goods and help […]
HM Revenue & Customs increases the threshold for Self-Assessment online payment plan service to £30,000
HM Revenue & Customs (HMRC) has increased the threshold for Self-Assessment taxpayers to use its online self-service Time to Pay payment plan service from £10,000 in tax liabilities to £30,000. The move means that more taxpayers will be able to spread the cost of their tax bills by paying in monthly instalments, without having to […]
Independent commission argues against annual wealth tax but advocates a one-off charge
An independent commission established last spring by the London School of Economics, the University of Warwick and the Economic and Social Research Council to analyse proposals for a wealth tax has rejected an annual tax but has advocated a one-off charge. The commission comprises senior academics from the universities involved as well as tax barrister, […]