Retail, hospitality and leisure firms set for £10 billion business rates savings

Apr 24, 2020

Businesses in the retail, hospitality and leisure sector are expected to save around £10 billion this tax year through business rates relief, official figures have revealed. The new statistics come after the Government launched its comprehensive business rates relief package for ...

Blog, HMRC, Money, Tax

COVID-19 – HMRC relax inheritance tax process

Apr 17, 2020

HM Revenue & Customs (HMRC) has announced changes to the inheritance tax (IHT) process to ensure minimal disruption because of the coronavirus pandemic. The changes come as a result of the current lockdown measures and aim to ensure that the IHT ...

Blog, HMRC, SMEs, Tax, VAT

Deferring VAT – HMRC confirms businesses should cancel VAT direct debits

Mar 25, 2020

Following the Government’s announcement that businesses will be able to defer VAT payments for the period from April – June, HM Revenue & Customs (HMRC) has now confirmed that businesses should cancel direct debits for VAT if they want to ...

Blog, HMRC, SMEs, Tax

IR35 delayed for a year because of coronavirus

Mar 18, 2020

The Government has announced that the IR35 tax reforms which were due to be implemented on 6 April 2020 have been delayed for a year because of the ongoing coronavirus outbreak. The changes to off-payroll working rules, which would see all ...

Blog, HMRC, Tax, VAT

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 ...

Blog, Business Advice, HMRC, SMEs, Tax

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 ...

Blog, Tax

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 ...

Blog, Tax

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 ...

Blog, Tax

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 ...

Blog, HMRC, Personal accounting, Tax

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 ...

Tax