Tax credits customers should be vigilant and alert to potential scams, HM Revenue and Customs (HMRC) has warned, as the remaining annual renewal packs will arrive in the post this week. In the 12 months to 30 April 2021, HMRC responded to more than 1,154,300 referrals of suspicious contact from the public. More than 576,960 Read more about Scams warning for tax credits customers[…]
Improvements to Companies House’s online services came into effect yesterday (2 June 2021) this will help prevent unauthorised company name changes. PROOF is a free service which lets you protect your company from unauthorised or fraudulent changes to your records. It prevents the filing of certain paper forms, such as changes to your company’s registered Read more about Changes to Companies House protected online filing (PROOF) service will enhance security of company filings[…]
Initial guidance to help businesses prepare for the new Plastic Packaging Tax is now available on GOV.UK. The guidance provides a high-level overview of the tax and is designed to help manufacturers and importers of plastic packaging, and businesses that buy plastic packaging (or goods contained in plastic packaging), understand: if they will need to register Read more about Plastic Packaging Tax – Initial guidance[…]
It was announced in March’s budget that the Coronavirus Job Retention Scheme will be extended until the end of September 2021, with changes to the scheme from July 2021. The UK Government will continue to pay 80% of employees’ usual wages for the hours not worked, up to a cap of £2,500 per month, up Read more about Coronavirus Job Retention Scheme – upcoming changes[…]
Smaller businesses can now apply for grants of up to £2,000 to help them adapt to new customs and tax rules when trading with the EU. This is part of the Government’s £20m SME support package announced in February that will help you if your business trades with the EU or you move goods between GB Read more about £20 million SME Brexit Support Fund opens for applications[…]
HMRC undertook a scheduled maintenance to it’s digital services in order to deliver a number of iterative enhancements to the functionality of the Making Tax Digital (MTD) for VAT service. HMRC have issued an update ‘Unfortunately, following successful delivery of this functionality over the weekend, an issue has been identified which is impacting the ability Read more about VAT MTD Service is currently unavailable[…]
New company car advisory fuel rates have been published and took effect from 1 March 2021. The guidance states: ‘You can use the previous rates for up to one month from the date the new rates apply’. The rates only apply to employees using a company car. The advisory fuel rates for journeys undertaken on Read more about Advisory fuel rates for company cars[…]
Businesses that took out government-backed Bounce Back loans to get through the coronavirus (COVID-19) pandemic will now have greater flexibility to repay their loans, the government has announced. The Pay as You Grow repayment flexibilities now includes the option to delay all repayments for a further six months. This means businesses can choose to make Read more about Borrowers of Bounce Back loans given more flexibility[…]
HMRC has announced that Self Assessment taxpayers will not be charged a 5% late payment penalty if they pay their tax or set up a payment plan by 1 April. The payment deadline for Self Assessment was 31 January and interest is charged from 1 February on any amounts outstanding. Normally, a 5% late payment Read more about Late payment penalties for Self Assessment waived until 1 April[…]
If you deferred your VAT payments due between 20 March and 30 June 2020 and still have payments to make, they should pay by 31 March if you can. If you cannot afford to pay by 31 March this year, you can now join the online VAT deferral new payment scheme to spread the payment. Read more about VAT deferral[…]