Recovery Loan Scheme now open for business, Government confirms

British businesses can now apply for affordable loans of between £1,000 and £10 million under the new Recovery Loan Scheme (RLS).

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New off-payroll working rules come into force: what you need to know

Medium and large employers are now required to determine the employment status of contractors after major changes to the off-payroll working rules came into force this month.

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New call for professional accountancy standards

Calls have been renewed for the Government to make membership of a recognised professional body mandatory for anyone offering paid-for tax accountancy services.

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Two in five businesses report cyber attacks in last 12 months, major study reveals

Two in five UK businesses have experienced a cyber-attack in the last 12 months, a major study has revealed.

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Government to crack down on rogue tax advisers

Accountants who provide tax advice may be required to hold professional indemnity insurance (PII) under new laws proposed this week.

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Putting off completing your HMRC Self Assessment is no longer an option as the April deadline approaches

To avoid incurring the wrath of the taxman, Self Assessment taxpayers have just over a week to get their self-assessment in order to pay any outstanding tax liabilities in full. Alternatively, they can set up an online payment plan for the 2019/20 financial year to avoid incurring penalty charges, according to HM Revenue & Customs (HMRC).

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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

ICAEW “questions” pension tax relief proposals

The Institute of Chartered Accountants in England and Wales (ICAEW) has raised concerns over proposals to alter the level of tax relief on pensions contributions for low-earners, arguing that any changes could burden businesses.Continue reading

UK Export Finance scheme extended to more than 100 overseas territories

The Government’s UK Export Finance (UKEF) scheme has now been extended to support international trade in more than 100 countries, it has been announced.Continue reading

Self-Assessment: HMRC announces new ‘enhanced payment plans’ for self-employed

From 1 October 2020, individuals who complete Self-Assessment tax returns will now be able to divide their tax bill into monthly instalments, without speaking to an HM Revenue and Customs (HMRC) adviser first.Continue reading

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