Taxpayers are being encouraged to file self-assessment tax returns now to ensure that they can spread their tax bill across 2021 through the ‘Time to Pay’ payment plan service. Continue reading
Employers: call for furlough scheme to be introduced to working parents while schools are closed
The Trades Union Congress (TUC) states that working parents with children, who struggle to balance their work-life and childcare, should be put on the furlough scheme whilst the schools are closed. Continue reading
Business rates: UK businesses could save almost £500 million after interim rebate ruling
Businesses in the UK could save a combined total of £481 million in business rates after an interim ruling on rebates. Continue reading
COVID-19: enhanced payment plans for Self-Assessment individuals
To help reduce any financial stresses as a result of the pandemic, HM Revenue & Customs (HMRC) has amended the instalment arrangements for paying tax liabilities for Self-Assessment taxpayers – increasing the threshold from £10,000 to £30,000. Continue reading
New laws to ensure businesses can trade freely between all four parts of the UK at end of transition period
New laws approved this week will ensure that no “harmful barriers” will be imposed on trade between the four parts of the UK at the end of the Brexit transition period, it has been announced. Continue reading
The most common Self Assessment errors, according to HMRC
With less than two months to go until the 31 January Self Assessment deadline, HM Revenue & Customs (HMRC) is calling on taxpayers to get their annual return right the first time around. Continue reading
HMRC: Penalty payments for non-compliance increase by 62 per cent
HM Revenue & Customs (HMRC) penalties for non-compliance by taxpayers have risen by 62 per cent, according to the latest research. Continue reading
Government has instructed fraudulent coronavirus loan applications to be reported
To get ahead of the anticipated rise in company collapses next year, the Insolvency Service has instructed insolvency practitioners to report all fraudulent coronavirus loan applications to them. Continue reading
CJRS: Deadline for November claims fast approaching
Claims under the Coronavirus Job Retention Scheme (CJRS) for November must be submitted no later than 14 December 2020, it has been cautioned. Continue reading
New Companies House rules to “crack down” on corporate fraud
Directors will need to verify that they are real people before they can act for a company, according to new proposals.