Advisory Fuel Rates: updates from 1 December 2020

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. Continue reading

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.Continue reading

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.Continue reading

Key Capital Gains Tax changes for Self-Assessment taxpayers to be aware of

HM Revenue & Customs (HMRC) is reminding self-assessment taxpayers of key Capital Gains Tax (CGT) changes that they need to be aware of before 31 January 2021.Continue reading

HMRC’s amended guidance on late furlough claims

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.Continue reading

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.Continue reading

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 that money has not been paid out incorrectly, HM Revenue & Customs (HMRC) has announced.Continue reading

Government set to ban the sale of new petrol and diesel cars and vans from 2030

The Government is set to ban the sale of petrol and diesel cars and vans from 2030, with hybrid vehicles to follow in 2035.Continue reading

Proposed R&D cap for SMEs published

On 12 November 2020, the details of the proposed Small and Medium-sized Enterprise (SME) Cap, which is due to come into effect on 1 April 2021, was published.Continue reading

More than 8,000 not-for-profit organisations share funding through Coronavirus Community Support Fund

Over 8,000 not-for-profit organisations have received grant funding of £200 million to support them throughout the coronavirus pandemic, new figures have revealed.Continue reading

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