Thousands of taxpayers benefited from the Self-Employment Income Support Scheme (SEISS) as the pandemic raged over the last two years, before its closure last year. The scheme, which involved five grant payments, was set up by the Government to provide support for the self-employed, for example sole traders, provided certain eligibility criteria were met. However, […]
Company tax returns must include COVID-19 grants says HMRC
Taxpayers are being reminded that COVID-19 support grants or payments should be declared on company tax returns as they are taxable. HM Revenue & Customs (HMRC) has issued a reminder that the filing deadline for company tax returns (CT600) is 12 months after the end of the accounting period it covers. The deadline to pay […]
HMRC focuses on backlog of work by shuttering telephone services
HM Revenue & Customs (HMRC) has announced that it is having to prioritise its essential services by temporarily closing some of its telephone hotlines, following a surge in enquiries during and since the pandemic. It has said that it is focusing on stabilising its phone service and tax credits/child benefits service at the start of […]
Payroll: how to get it right
One of the key things that small and medium sized businesses (SMEs) need to get right is payroll. Not only is it a legal requirement to maintain the relevant documents and pay the correct amount of tax, getting prepared can help to reassure your employees that the business is trustworthy. Step 1: what do you […]
Right to work: Government to launch virtual identification scheme to support employer
A new digital identity scheme will help employers carry out right to work checks, it has been announced.
Making Tax Digital for VAT – What you need to know
The next few years will see several significant changes to taxation, including, more immediately, the further expansion of Making Tax Digital (MTD) for VAT in April this year.