COVID-19: enhanced payment plans for Self-Assessment individuals

Dec 21, 2020

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. ...

Blog, Business Advice, HMRC

HMRC temporarily suspends activation code requirement for new Self Assessment taxpayers

Dec 07, 2020

New Self Assessment taxpayers will no longer need to wait for an activation code to be sent in the post before they can access their personal tax account, it has been revealed. The change comes two months ahead of the online ...

Blog, HMRC, Tax

Advisory Fuel Rates: updates from 1 December 2020

Nov 30, 2020

HM Revenue and Customs (HMRC) has updated the Advisory Fuel Rates (AFRs) which come into effect on 1 December 2020, for company car drivers requiring fuel costs from their employer. However, you can use the previous AFRs for up to ...

Blog, HMRC

Self-employed profits must be “significantly reduced” to claim third SEISS grant, says HMRC

Nov 26, 2020

Self-employed workers’ profits must be “significantly reduced” in order to claim the third instalment of the Self-Employment Income Support Scheme (SEISS), it has been revealed. The new guidance comes less than a week before applications open on 30 November 2020. Under previous ...

Blog, HMRC, SMEs

HMRC’s amended guidance on late furlough claims

Nov 23, 2020

On 19 November 2020, the Government amended its guidance to give examples of what is meant by a ‘reasonable excuse’, for submitting furlough claims past the deadline. Claims need submitting within two weeks of the end of the previous calendar month ...

Blog, Business Advice, HMRC, SMEs

HMRC to investigate Eat Out to Help Out scheme claimants

Nov 19, 2020

Registered users of the Eat Out to Help Out scheme (EOTHO) should check their claims to ensure money has not been paid out incorrectly, HM Revenue & Customs (HMRC) has announced. The warning comes after the regulator revealed that it would ...

Blog, Business Advice, HMRC

Temporary Annual Investment Allowance extended to January 2022

Nov 12, 2020

The temporary Annual Investment Allowance (AIA) will be extended until 01 January 2022 to “stimulate investment in UK manufacturing”, it has been announced. The measure – which increases the allowance from £200,000 to £1 million - was due to end in ...

Blog, HMRC, Personal accounting, Tax

Self-Assessment: HMRC announces new ‘enhanced payment plans’ for self-employed

Oct 06, 2020

From 1 October 2020, individuals who complete Self-Assessment tax returns will now be able to divide their tax bill into monthly instalments, without speaking to an HM Revenue and Customs (HMRC) adviser first. On 24 September 2020, the Chancellor announced that ...

Blog, HMRC, SMEs

Businesses return £215 million furlough payments to the Government

Sep 21, 2020

According to HM Revenue and Customs (HMRC), more than £215 million of Coronavirus Job Retention Scheme (CJRS) payments have been willingly returned to the Government by UK firms, out of £35.4 billion worth of claims up until 16 August. The CJRS, ...

Blog, HMRC, SMEs

National Minimum Wage investigations have drastically increased

Sep 15, 2020

National Minimum Wage investigations by HM Revenue & Customs (HMRC) have increased significantly, according to the latest research. These inspections rose due to modern slavery reports and other controversial probes into UK garment factories. To guarantee that workers are paid correctly, HMRC ...

HMRC