Budget 2020 Summary
Mar 11, 2020
Budget summary When Philip Hammond delivered the last Budget 499 days ago, in the midst of the Brexit negotiations, he could not have imagined that the next Budget would be dominated by the spread of a lethal contagion. Nor is it likely ...
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Almost a fifth of businesses fell into their overdraft in past year
Mar 05, 2020
According to the latest industry research, almost one in five small businesses fell into their overdrafts in the last year in a bid to manage their cash flow. The survey by cashflow management company Fluidly involved 19,799 companies and found that ...
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Everything you need to know about the construction industry scheme VAT reverse charge
Mar 02, 2020
HM Revenue & Customs (HMRC) announced a 12-month deferral on the domestic reverse charge last year, which will now apply to construction services from 1 October 2020. The reverse charge legislation will place responsibility on the contractor to account for the ...
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Chancellor offers reassurance regarding ‘soft’ IR35 landing
Feb 27, 2020
The new Chancellor, Rishi Sunak has offered reassurance to contractors that HM Revenue & Customs (HMRC) will ensure a soft landing is in place for the first year following the implementation of the IR35 rules. This means that HMRC will not ...
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Confusion over tax-free childcare scheme affecting its use
Feb 20, 2020
The take-up of the Government’s Tax-Free Childcare scheme which was introduced as a replacement to childcare vouchers has been hindered by a lack of understanding around eligibility and the financial benefits of the scheme. HM Revenue & Customs (HMRC) estimates that ...
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Hundreds join demonstration against IR35 rule changes
Feb 17, 2020
Hundreds of campaigners have reportedly marched outside Parliament in a demonstration against new off-payroll working rules which are due to come into effect from April this year. The #StoptheOffPayrollTax campaign warns that the rules will damage the economy as employers cut ...
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Government launches consultation on plans for new freeports
Feb 13, 2020
The Government has launched a consultation on plans to create up to ten freeports across the UK in a bid to encourage global trade and attract inward investment following Brexit. The proposed freeports will use different customs rules to the remainder ...
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Government extends deadline to claim post-Brexit customs support
Feb 11, 2020
The deadline for applying for customs and tariff support has been extended to 31 January 2021, the Government has announced. The grant funding scheme, launched in September 2019, was set to close on 31 January 2020. Under the scheme, small and medium-sized ...
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Rule change to shorten tax deadline for property sellers
Jan 30, 2020
Experts are warning that buy-to-let landlords and other property owners are at risk of financial penalties due to an obscure change to tax rules. From April, the deadline by which property owners with taxable gains on residential properties are required to ...
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Last call on tax returns, says HMRC
Jan 28, 2020
HM Revenue & Customs (HMRC) is calling on taxpayers who have yet to submit their tax return to do so urgently. With less than a week to go until the 31 January 2020 deadline, three million taxpayers have reportedly yet to ...
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