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.
Brexit: UK exports to single market fall amid “unstable” trading environment
UK exports to the European Union have fallen by almost £20 billion since leaving the single market in 2021, a major study has revealed. The figures, published by the Office for National Statistics (ONS), come after research revealed that half of traders are “not confident” in exporting internationally since the introduction of full customs controls. […]