HMRC hikes late payment interest rates

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HMRC hikes late payment interest rates

Jan 07, 2022

The rate of interest charged on late payments by HM Revenue & Customs (HMRC) has increased, it has been announced. It comes after the Bank of England (BoE) increased the base rate from 0.1 per cent to 0.25 per cent on ...

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Outdoor markets and marquees to be made permanent in boost for hospitality sector

Dec 23, 2021

Temporary legislation permitting outdoor markets and marquees will be made permanent, the Government has confirmed. The announcement will be welcomed by high street firms and hospitality businesses that are facing increasing coronavirus uncertainty. The temporary permitted development rights were introduced last year ...

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Coronavirus: self-certification period temporarily extended

Dec 20, 2021

As of 17 December 2021, there has been a temporary shift to the self-certification period regarding Statutory Sick Pay (SSP). The change is another measure taken in response to the emergence of Omicron. It aims to provide temporary relief for GPs, ...

Blog, Business Advice, Tax

The Christmas gift allowance: how it works

Dec 17, 2021

If you are planning on treating staff this Christmas, here’s a brief guide to the tax rules for the 2021/22 financial year. Do gifts count as taxable income? Christmas presents paid in cash to staff qualify as taxable earnings, which means they ...

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Blog, SMEs

How much will Net Zero really cost SMEs?

Dec 14, 2021

As many companies will already know, COP26 took place in Glasgow last month and fuelled many firms to commit to going Net-Zero by 2050. Currently, there are several green taxes already in operation, such as the Climate Change Levy (which encourages ...

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Blog, Tax

Tens of thousands of taxpayers spread out Self Assessment tax bill in wake of coronavirus pandemic

Dec 09, 2021

Tens of thousands of self-employed workers have used HM Revenue & Customs’ (HMRC) Time to Pay service to spread out tax bills, the latest figures have revealed. The Time to Pay facility has offered a lifeline to those who may struggle ...

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Profit improvement: steps to consider for your business

Dec 07, 2021

As this year closes and we begin into a new start, it is a better time than ever to look over your business operations and analyse how you can improve profitability. Below, we have outlined four steps to consider: Gain new ...

Blog, Tax

Be aware of tax liabilities if you are using cryptocurrencies

Nov 30, 2021

To many, cryptoassets, which includes cryptocurrencies, are an enigma shrouded in mystery. Whether we are talking about Bitcoin, Dogecoin, Litecoin, blockchain or mining, most people will not have a clue. But for those who have dabbled in the market, it’s important ...

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Blog, SMEs

Small business confidence dips ahead of new customs controls coming into force

Nov 26, 2021

Four in 10 exporters have reported a fall in international sales since the end of the Brexit transition period, a major study has revealed. The finding forms part of the Federation of Small Business’ (FSB) Small Business Index (SBI), which provides ...

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If your holiday got cancelled last year, then read on…

Nov 23, 2021

Were you one of many UK holiday-goers whose trip got cancelled due to the pandemic? If you received vouchers in compensation, then you must spend these before your financial protection expires. According to research, there is still £132 million worth of unspent ...

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