New tax surcharges for late payments
May 11, 2021
In the 2021 Spring Budget, the Government announced a new penalty and interest regime to replace the VAT default surcharge. From April 2022, this new penalty regime for late submission of tax returns and late payments will begin across VAT and ...
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Work from home tax relief: what employees need to know
May 07, 2021
It was confirmed this April that employees can continue to claim tax relief on work from home costs not reimbursed by employers, but only if they make a new claim for the 2021/22 tax year. Here’s what you and your staff ...
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Is incorporation right for me?
Apr 30, 2021
As business advisers, we’re often asked whether incorporation is the right choice for new and growing businesses. But the answer isn’t always straightforward. The truth is, there is no right or wrong way to run a company and incorporation will depend ...
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SME leaders optimistic towards post-Covid recovery time
Apr 26, 2021
Small and medium-sized enterprise (SME) leaders are optimistic about post-Covid-19 recovery time, suggesting it will take an average of 12 months for their businesses to make up for the lost revenue. Chirag Shah, CEO, Nucleus Commercial Finance, who commissioned this research, ...
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Self Employment Income Support Scheme: fourth grant now live
Apr 23, 2021
Self-employed workers will be able to claim the fourth Self Employment Income Support Scheme (SEISS) Grant from 22 April 2021. Commenting on the launch of the grant, the Institute of Chartered Accountants in England and Wales (ICAEW) said the scheme has ...
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Do you have taxable benefits? Start preparing now!
Apr 20, 2021
The last tax year has not long ended, but now is the time to think about how you report taxable benefits provided to your employees. On the horizon there is the all-important P11D deadline looming, which may require some employers to ...
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Small business confidence rises to positive territory for first time since 2018 as non-essential retail reopens
Apr 16, 2021
Small business confidence has risen to its highest level since autumn 2014, a major study has revealed. The finding forms part of the Federation of Small Businesses’ (FSB) quarterly Small Business Index (SBI), which comes as non-essential retail in England and ...
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New claims needed to continue receiving working from home tax relief
Apr 15, 2021
Employees who are continuing to work from home as a result of the Coronavirus pandemic and whose expenses have not been reimbursed by their employers should make new claims to continue receiving working from home tax relief. This is because claims ...
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Furlough scheme guidance updated
Apr 15, 2021
HM Revenue & Customs (HMRC) has published a series of updates to its guidance on the Coronavirus Job Retention Scheme (CJRS), more commonly known as the ‘furlough scheme’. The updates cover the changes to the scheme as it is extended from ...
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HM Revenue & Customs contacts self-employed individuals who could be eligible for the fourth round of the Self-Employment Income Support Scheme
Apr 15, 2021
HM Revenue & Customs (HMRC) is now contacting self-employed individuals who could be eligible for the fourth round of the Government’s Self-Employment Income Support Scheme (SEISS). The fourth round of the scheme covers the period from 1 February 2021 to 30 ...
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