Other News

HMRC's tax take falls by billions due to pandemic

HMRC saw a drop of almost £30 billion in tax revenues in the latest financial year because of the pandemic.

Monday, December 6, 2021

Government sets out tax details on TAM Day

The UK government marked the inaugural Tax Administration and Maintenance (TAM) Day with the publication of 30 papers covering a wide range of tax issues.

Monday, December 6, 2021

Three-day wait for Statutory Sick Pay to return next year

The standard three-day waiting time for Statutory Sick Pay (SSP) will be reinstated for coronavirus (COVID-19)-related claims from 25 March 2022.

Monday, December 6, 2021

HMRC issues warning on self assessment scams

HMRC has warned taxpayers completing their 2020/21 tax returns to 'be on their guard' and stay vigilant in regard to tax-related scams.

Monday, December 6, 2021

New law introduced to help protect pension savers from scammers

New rules to help protect pension savers from scammers have become law.

Monday, December 6, 2021

Services sector continues to recover despite rising costs

Optimism improved for firms across the services sector in the three months to November, according to the latest Service Sector Survey from the Confederation of British Industry (CBI).

Monday, December 6, 2021

Advisory fuel rates for company cars

New company car advisory fuel rates have been published and took effect from 1 December 2021.

Monday, December 6, 2021

Costs 'weighing on businesses' sustainability intentions', FSB finds

A report published by the Federation of Small Businesses (FSB) has revealed that the costs associated with going green have impacted small firms' plans for becoming more sustainable.

Monday, December 6, 2021

Chancellor delivers Budget to lay foundation for a strong economy

On 27 October, Chancellor Rishi Sunak delivered a Budget to ensure the UK economy bounces back following the coronavirus (Covid-19) pandemic.

Monday, November 8, 2021

Business groups give mixed response to Budget

Business groups gave a mixed response to Chancellor Rishi Sunak's 2021 Autumn Budget speech.

Monday, November 8, 2021

IFS predicts millions to be worse off next year due to tax rises

The Institute for Fiscal Studies (IFS) has predicted that millions of people will be worse off in 2022 as a result of spiralling costs and tax rises.

Monday, November 8, 2021

Payment period on residential CGT is doubled

The government has doubled the period for filing and payment of capital gains tax (CGT) on residential property from 30 days to 60 days.

Monday, November 8, 2021

FSB warns tax rises threaten recovery from pandemic

The Federation of Small Businesses (FSB) has warned that tax rises could threaten the UK's ongoing recovery from the Covid-19 pandemic.

Monday, November 8, 2021

Applications now open for freeports

Businesses that are planning to operate in the UK's new freeports can now apply to HMRC.

Monday, November 8, 2021

Pensions experts say a minimum of £10,900 a year needed to retire

A single person will need post-tax annual income of £10,900 for a minimum standard of living in retirement, according to the Pensions and Lifetime Savings Association (PLSA).

Monday, November 8, 2021

Heat pump grants worth £5,000 will help replace gas boilers

Homeowners in England and Wales will be offered subsidies of £5,000 from next April to help them to replace old gas boilers with low carbon heat pumps.

Monday, November 8, 2021

Making Tax Digital for Income Tax Self Assessment delayed for a year

The government has delayed the introduction of Making Tax Digital (MTD) for Income Tax Self Assessment (MTD for ITSA) for a year.

Wednesday, October 6, 2021

National Insurance and dividend tax rises announced for social care reform

From April 2022, the government plans to create a new social care levy which will see UK-wide tax and National Insurance Contribution (NIC) increases.

Wednesday, October 6, 2021

Chancellor to deliver Autumn 2021 Budget on 27 October

HM Treasury has announced that Chancellor Rishi Sunak will deliver the Autumn 2021 Budget on Wednesday 27 October.

Wednesday, October 6, 2021

Chancellor warned of redundancies as furlough scheme ends

The government's Coronavirus Job Retention Scheme (CJRS) ended on 30 September after supporting millions of workers during the pandemic.

Wednesday, October 6, 2021

COVID-19 sick pay rebate scheme closed in September

The government's scheme that enables small businesses to recoup statutory sick pay costs caused by COVID-19 closed at the end of September.

Wednesday, October 6, 2021

£800 million Reinsurance Scheme opens for live events

The government has opened a £800 million Reinsurance Scheme to cover live events against cancellations stemming from the COVID-19 pandemic.

Wednesday, October 6, 2021

Government announces plans to make requesting flexible working a day one right

UK workers could get more choice over when and where they work under new proposals to make the right to request flexible working a day one entitlement.

Wednesday, October 6, 2021

British Business Bank provided £80.5 billion of COVID-19 support

COVID-19 emergency finance schemes offered £80.5 billion of finance to almost 1.7 million businesses through the British Business Bank (BBB) during the last financial year.

Wednesday, October 6, 2021

HMRC outlines changes to late payment penalty regime

HMRC has published a policy paper outlining the forthcoming changes to the penalties for late payment and interest harmonisation for taxpayers.

Monday, September 6, 2021

Digital marketplaces to report sellers' incomes from 2023

HMRC has published a consultation that outlines plans to implement reporting rules for digital platforms first put forward by the Organisation for Economic Co-operation and Development (OECD).

Monday, September 6, 2021

CIOT warns over stamp duty refund claims

The CIOT has warned that some claims being made by firms offering help with Stamp Duty Land Tax (SDLT) refunds are too good to be true.

Monday, September 6, 2021

Contactless limit to increase to £100

The national roll-out of the new £100 spending limit for contactless card payments will begin from 15 October 2021, banking trade body UK Finance has confirmed.

Monday, September 6, 2021

HMRC urges taxpayers to stay alert to digital scams

HMRC has urged taxpayers to stay alert to the threat of digital scams and scammers claiming to represent HMRC.

Monday, September 6, 2021

BCC calls for government to extend skills training

The BCC has urged the government to extend skills training in light of the publication of research which showed that one in five companies are considering making redundancies as a result of the coronavirus (COVID-19) pandemic.

Monday, September 6, 2021

Advisory fuel rates for company cars

New company car advisory fuel rates have been published and took effect from 1 September 2021.

Monday, September 6, 2021

Employers 'named and shamed' for paying less than minimum wage

The government has 'named and shamed' 191 companies that have broken National Minimum Wage (NMW) laws.

Monday, September 6, 2021

Consultation launched on self-employed basis period reform

HMRC has recently launched a consultation on how basis periods can be reformed for income tax for the self-employed.

Thursday, August 5, 2021

The government has published draft Finance Bill clauses

The Government has published draft clauses for the next Finance Bill, which broadly cover pre-announced policy changes.

Thursday, August 5, 2021

Claiming the fifth self-employed Income Support Scheme (SEISS) grant

HMRC has issued guidance on claiming the fifth and final self-employed Income Support Scheme (SEISS) grant.

Thursday, August 5, 2021

ICAEW urges HMRC to scrap exemptions to simplify VAT rules

The ICAEW has urged HMRC to abolish all VAT exemptions and remove all VAT options relating to land and property.

Thursday, August 5, 2021

HMRC updates Salary Sacrifice guidance

HMRC has updated the guidance on salary sacrifice.

Thursday, August 5, 2021

Data reveals 1.9 million workers remain on furlough

The Coronavirus Job Retention Scheme (CJRS) is being wound down on 30 September 2021.

Thursday, August 5, 2021

Pension scams average losses now over £50,000

According to the latest figures from Action Fraud the average loss from pension scams has reached £50,949 this year.

Thursday, August 5, 2021

Increase in public trust in charities

Public trust in charities has reached its highest level since 2014, according to research published by the Charity Commission.

Thursday, August 5, 2021

Furlough scheme starts to wind down

The government's Coronavirus Job Retention Scheme (CJRS) begins winding down from 1 July.

Tuesday, July 6, 2021

Apprenticeship cash boost

The government has confirmed that employers of all sizes in England can now apply for £3,000 in extra funding to help them take on new apprentices.

Tuesday, July 6, 2021

Property tax changes

From 1 July 2021 there are changes to the Stamp Duty Land Tax (SDLT) and Land Transaction Tax (LTT) bands for residential property.

Tuesday, July 6, 2021

HMRC launches 13,000 investigations into COVID-19 support schemes

HMRC has launched nearly 13,000 investigations into alleged abuse of the government's coronavirus (COVID-19) financial support schemes.

Tuesday, July 6, 2021

Schemes create one stop shop for VAT on EU trade

Three schemes were launched on 1 July to deal with VAT on business-to-consumer supplies of goods and services to EU customers.

Tuesday, July 6, 2021

Over 280,000 families now using Tax-Free Childcare

More than 282,000 working families used a Tax-Free Childcare (TFC) account during March 2021, according to figures from HMRC.

Tuesday, July 6, 2021

440,000 tax credit claimants still to renew their claims

HMRC is reminding tax credit claimants that they have until 31 July 2021 to renew their claims.

Tuesday, July 6, 2021

800,000 claim tax relief for working from home

HMRC has confirmed that almost 800,000 employees who have been working from home during the pandemic have already claimed tax relief on household related costs.

Tuesday, July 6, 2021

Fifth SEISS grant will be open to claims from late July

The online claims service for the fifth SEISS grant will be open from late July 2021.

Monday, June 7, 2021

HMRC's VAT Deferral New Payment Scheme to close this month

Businesses that deferred VAT payments last year have less than a month left to join online and pay in monthly instalments under the VAT Deferral New Payment Scheme.

Monday, June 7, 2021

NIC reliefs set for Freeports

Freeport operators will be able to take advantage of a zero rate of secondary national insurance contributions (NICs) for employees.

Monday, June 7, 2021

Government confirms start date for Plastic Packaging Tax

The UK government has confirmed that its plastic packaging tax (PPT) will come into force on 1 April 2022.

Monday, June 7, 2021

Effectiveness of OTS set to be reviewed by Treasury

The Treasury has launched a review into the effectiveness of the Office of Tax Simplification (OTS).

Monday, June 7, 2021

Trade credit insurance scheme to close

The temporary Trade Credit Reinsurance (TCR) scheme that helped struggling supply chain firms secure insurance protection during the pandemic will close at the end of June.

Monday, June 7, 2021

Advisory fuel rates for company cars

New company car advisory fuel rates have been published and took effect from 1 June 2021.

Monday, June 7, 2021

Forms P11D - reporting employee benefits

The forms P11D which report details of benefits and some expenses provided to employees and directors for the year ended 5 April 2021, are due for submission to HMRC by 6 July 2021.

Monday, June 7, 2021

Fourth self-employed grant now open for online applications

The online service for applications for the fourth Self-employment Income Support Scheme (SEISS) grant is now open for claims.

Wednesday, May 5, 2021

Recovery Loan Scheme opens to businesses

The Recovery Loan Scheme has been introduced to replace the government's coronavirus lending schemes.

Wednesday, May 5, 2021

Recent changes to IR35 'undermine the self-employed' says IPSE

The Association of Independent Professionals and the Self-Employed has stated that the recent changes to the rules relating to off-payroll workers, commonly known as IR35, 'undermine the self-employed at the worst possible time'.

Wednesday, May 5, 2021

CBI calls for extension of Kickstart Scheme as jobs market remains subdued

The Confederation of British Industry has urged the government to extend the Kickstart Scheme to help young people who are bearing the brunt of the subdued job market.

Wednesday, May 5, 2021

New 95% mortgage scheme launched

On 19 April, a government-backed mortgage scheme to help people with 5% deposits get on to the housing ladder was made available to lenders.

Wednesday, May 5, 2021

New claims required for home working tax relief

Employees who are working from home will need to make new claims for tax relief for the 2021/22 tax year, HMRC has stated.

Wednesday, May 5, 2021

HMRC sets out penalty regime for SEISS abuse

The fourth Self-Employed Income Support Scheme (SEISS) grant is now live and HMRC has set out the penalties for abuse of the scheme.

Wednesday, May 5, 2021

Pension fraud increased to £1.8 million in first quarter of 2021

Losses from pension fraud rose to £1.8 million in the first three months of this year, according to figures from Action Fraud.

Wednesday, May 5, 2021

Business rates relief extended with £1.5 billion fund

The government is to extend business rates relief with a £1.5 billion fund targeted at those businesses unable to benefit from the current COVID-19 support.

Tuesday, April 6, 2021

Consultations launched on UK's first Tax Day

The government has published over 30 updates, consultations and documents on the UK's first ever Tax Day.

Tuesday, April 6, 2021

Government publishes details of Finance Bill 2021

The details of the Finance Bill 2021 have been published by the government.

Tuesday, April 6, 2021

£20 million SME Brexit Support Fund opens for applications

The UK government has unveiled a £20 million Brexit support package to help small and medium-sized enterprises (SMEs) with changes to customs and tax rules when trading with the EU.

Tuesday, April 6, 2021

HMRC publishes details of final grants for self-employed

HMRC has published details of the eligibility criteria of the final two grants available under the Self-employment Income Support Scheme (SEISS).

Tuesday, April 6, 2021

National Minimum and Living wages increases

UK workers are set to benefit from rises in the National Minimum Wage (NMW) and the National Living Wage (NLW) rates that took effect from 1 April 2021.

Tuesday, April 6, 2021

UK cuts electric vehicle grants by £500

The government has cut the Plug-in Car Grant and Van & Truck Grant by £500 and lowered the pricing cap on qualifying electric vehicles.

Tuesday, April 6, 2021

ICAEW urges HMRC to rethink quarterly reports under MTD for corporation tax

The Institute of Chartered Accountants in England and Wales has urged HMRC to rethink the requirement for companies to report quarterly under Making Tax Digital for corporation tax.

Tuesday, April 6, 2021

Sunak set out Budget to protect businesses

Chancellor Rishi Sunak set out a Budget to protect businesses through the pandemic, fix the public finances and begin building the future economy.

Monday, March 8, 2021

Business groups welcome Budget

Business groups welcomed the Chancellor's Budget for protecting the economy now and kickstarting recovery from the COVID-19 pandemic.

Monday, March 8, 2021

Late payment penalties for Self Assessment waived until 1 April

HMRC has announced that Self Assessment taxpayers will not be charged a 5% late payment penalty if they pay their tax or set up a payment plan by 1 April.

Monday, March 8, 2021

Online service opens for VAT deferral scheme

HMRC has announced that businesses that deferred VAT payments last year can now join the new online VAT Deferral New Payment Scheme to pay it in smaller monthly instalments.

Monday, March 8, 2021

HMRC clarifies off-payroll rules

HMRC has published a briefing on its approach to the changes to off-payroll working rules, commonly known as IR35, which will be introduced on 6 April 2021.

Monday, March 8, 2021

Domestic VAT reverse charge comes into effect on 1 March

The twice-delayed introduction of the domestic VAT reverse charge for construction services came into effect on 1 March 2021.

Monday, March 8, 2021

Borrowers of Bounce Back loans given six more months for repayments

Businesses that took out government-backed Bounce Back loans to get through the coronavirus (COVID-19) pandemic will now have greater flexibility to repay their loans, the government has announced.

Monday, March 8, 2021

Advisory fuel rates for company cars

New company car advisory fuel rates have been published and took effect from 1 March 2021.

Monday, March 8, 2021

Spring Budget 2021

The Chancellor Rishi Sunak presented his second Budget on Wednesday 3 March 2021.

Thursday, March 4, 2021

10.7 million taxpayers submitted their 2019/20 Self Assessment tax returns

HMRC has revealed that more than 10.7 million taxpayers submitted their 2019/20 Self Assessment tax returns by the 31 January deadline.

Thursday, February 4, 2021

Rogue employers named and shamed for failing to pay employees the minimum wage

HMRC has published the names of 139 named companies that failed to pay minimum wages amounting to £6.7 million to over 95,000 workers.

Thursday, February 4, 2021

Scottish Budget Income Tax

Finance Secretary Kate Forbes delivered the 2021/22 Scottish Draft Budget on Thursday 28 January 2021, setting out the Scottish Government's financial and tax plans.

Thursday, February 4, 2021

Scottish Land and Buildings Transaction Tax

As part of the Scottish Budget, Finance Secretary Kate Forbes also announced changes to Land and Buildings Transaction Tax (LBTT) which apply from 1 April 2021.

Thursday, February 4, 2021

Bonus of £1,000 to help businesses take on trainees

The government has announced that employers can now apply for a £1,000 bonus, a cash boost, to help them take on new trainees.

Thursday, February 4, 2021

LITRG calls for a rise in the High Income Child Benefit Charge threshold

The Low Incomes Tax Reform Group (LITRG) has urged the government to raise the High Income Child Benefit Charge (HICBC) threshold to avoid it affecting basic-rate taxpayers for the first time in April 2021.

Thursday, February 4, 2021

Government urged by CBI to act on COVID business support ahead of Budget

The Confederation of British Industry (CBI) has urged the government to provide more financial assistance to businesses affected by the coronavirus (COVID-19) pandemic ahead of the Budget on 3 March 2021.

Thursday, February 4, 2021

Supreme Court backs small firms on business interruption claims

The UK's Supreme Court has found in favour of small firms receiving payments from COVID-19 business interruption insurance policies.

Thursday, February 4, 2021

Finance Secretary for Scotland outlines spending plans in 2021/22 Scottish Budget

On 28 January, Finance Secretary for Scotland, Kate Forbes, outlined plans for Scottish spending and taxation in the 2021/2022 Scottish Budget.

Friday, January 29, 2021

Chancellor announces £4.6 billion lockdown grant package

Chancellor Rishi Sunak has announced a new £4.6 billion package of grants to support businesses through the latest national lockdown.

Wednesday, January 6, 2021

Extension of the Job Retention Scheme

Chancellor Rishi Sunak has extended the Coronavirus Job Retention Scheme (CJRS) until the end of April 2021.

Wednesday, January 6, 2021

VAT deferral

HMRC has issued some guidance to taxpayers that deferred their VAT payments between 20 March and 30 June 2020 and still have payments to make.

Wednesday, January 6, 2021

New action to disrupt promoters of tax avoidance schemes

HMRC and the Advertising Standards Authority (ASA) have launched a new joint enforcement notice to cut out misleading marketing by promoters of tax avoidance schemes.

Wednesday, January 6, 2021

Self assessment deadline approaching

The deadline for submitting your 2019/20 self assessment return is 31 January 2021.

Wednesday, January 6, 2021

Institute of Directors warns Capital Gains Tax rise would adversely affect entrepreneurs

The Institute of Directors (IoD) has warned the government that a rise in CGT would affect Britain's entrepreneurial spirit.

Wednesday, January 6, 2021

Individuals urged to remain vigilant when making festive charitable donations

Action Fraud has warned the public to remain vigilant when making festive charitable donations as the number of scams rises.

Wednesday, January 6, 2021

Self-Employment Income Support Scheme

HMRC is advising the self employed that the Self-Employment Income Support Scheme (SEISS) has been extended.

Wednesday, January 6, 2021