Other News

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

Get prepared for the end of the Brexit transitional period

It is time to prepare for the end of the Brexit transitional period.

Saturday, December 5, 2020

Virtual Christmas parties will qualify for tax exemption

HMRC has confirmed that they will accept a virtual Christmas party as an event which is capable of falling within the tax exemption rules for annual functions.

Saturday, December 5, 2020

Gifts to employees can be tax-free

Some employers may wish to give a small gift to their employees. As long as the employer meets the relevant conditions, no tax charge will arise on the employee.

Saturday, December 5, 2020

Minimum Wage Increases from April 2021

Increased minimum wage rates have been announced to take effect from 1 April 2021.

Saturday, December 5, 2020

Advisory fuel rates for company cars

New company car advisory fuel rates have been published and took effect from 1 December 2020.

Saturday, December 5, 2020

Self assessment taxpayers warned to watch out for scammers posing as HMRC

HMRC is warning self assessment taxpayers to be alert to the danger of scammers posing as the tax authority in the lead up to the tax return deadline.

Saturday, December 5, 2020

HMRC confirms MTD for corporation tax to be mandated from 2026

In a new consultation HMRC has confirmed that Making Tax Digital for corporation tax will not be implemented until 2026 'at the earliest'.

Saturday, December 5, 2020

£1 million Annual Investment Allowance cap extended

The Treasury has confirmed that the £1 million cap on the Annual Investment Allowance (AIA) is to be extended for an additional year as the government continues to look at ways to stimulate the economy.

Saturday, December 5, 2020

Furlough scheme extended

On 5 November, Chancellor Rishi Sunak announced that as part of the new national lockdown the Coronavirus Job Retention Scheme (CJRS) has been extended until the end of March 2021.

Thursday, November 5, 2020

Increased support made available for the self employed

The government has increased the support available to self-employed workers and extended its emergency business loan schemes.

Thursday, November 5, 2020

Chancellor approves grants for businesses closed by lockdown

Chancellor Rishi Sunak has announced approved additional funding for cash grants to support businesses required to close in England due to the lockdown.

Thursday, November 5, 2020

Self assessment customers to benefit from enhanced payment plans

Self assessment taxpayers are now able to benefit from enhanced payment plans and can apply online for additional support to help spread their tax bill into monthly payments.

Thursday, November 5, 2020

Taxpayers claim tax relief for working from home

HMRC has received more than 54,800 claims from taxpayers using a new online portal which allows workers to claim tax relief for working at home.

Thursday, November 5, 2020

Brexit imports and exports

From 1 January 2021, the UK will operate a full external border with the EU, which will entail major changes for imports and exports to and from the trading bloc.

Thursday, November 5, 2020

ATT issues last call for firms seeking to use increased Annual Investment Allowance

The Association of Taxation Technicians (ATT) has issued a last call for businesses looking to make use of the increased Annual Investment Allowance (AIA).

Thursday, November 5, 2020

Latest guidance for employers

HMRC has published the latest issue of the Employer Bulletin.

Thursday, November 5, 2020

Job Support Scheme

The existing job support scheme, the furlough scheme, comes to an end on 31 October.

Friday, October 2, 2020

Winter Economy Plan support for the self-employed

As part of the Winter Economy Plan the Self-Employment Income Support Scheme (SEISS) will be extended under the name SEISS Grant Extension.

Friday, October 2, 2020

VAT deferral and enhanced Time to Pay for self assessment

As part of the Winter Economy Plan the government has announced options for deferred VAT and income tax self assessment payments.

Friday, October 2, 2020

Changes to the Bounce Back Loan and Coronavirus Business Interruption Loan Schemes

The government has announced options to extend terms and change payments.

Friday, October 2, 2020

The VAT reverse charge

HMRC has issued detailed guidance on the domestic reverse charge changes scheduled for 1 March 2021.

Friday, October 2, 2020

Ministers announce new grants for businesses affected by local lockdowns

Businesses in England that are required to shut because of local interventions will now be able to claim up to £1,500 per property every three weeks.

Friday, October 2, 2020

New trade arrangements with the EU from 1 January 2021

HMRC has sent letters to VAT-registered businesses in Great Britain trading with the EU, or the EU and the rest of the world.

Friday, October 2, 2020

House sales rise following the introduction of stamp duty holiday

The government has announced that residential property transactions rose in August following the introduction of a stamp duty holiday.

Friday, October 2, 2020

Kickstart Scheme opens for applications

On 2 September 2020, the government's £2 billion Kickstart Scheme opened for employer applications.

Friday, September 4, 2020

Self Employment Income Support Scheme Grants

HMRC are inviting those individuals that are self employed or a member of a partnership and have been adversely affected by coronavirus to claim a second grant under the Self Employed Income Support Grant.

Friday, September 4, 2020

Plastic bag tax charge to be doubled and extended to all retailers

The fee for plastic shopping bags in England will be doubled to 10 pence and extended to all shops from April 2021.

Friday, September 4, 2020

More than £30 million lost to pension scams

Over £30 million has been lost to pension scams since 2017, according to the Financial Conduct Authority (FCA) and The Pensions Regulator (TPR).

Friday, September 4, 2020

Advisory fuel rates for company cars

New company car advisory fuel rates have been published which take effect from 1 September 2020.

Friday, September 4, 2020

Eat Out to Help Out - over 64 million meals

The government has announced that more than 64 million meals were enjoyed by diners across the country during the government's Eat Out to Help Out discount scheme.

Friday, September 4, 2020

Self assessment deadlines

Two self assessment deadlines are approaching.

Friday, September 4, 2020

HMRC latest guidance for employers

HMRC has published the latest edition of the Employer Bulletin.

Friday, September 4, 2020

HMRC outlines Job Retention Bonus criteria

HMRC has outlined the eligibility requirements for the Job Retention Bonus.

Thursday, August 6, 2020

Treasury sets out next steps for Making Tax Digital

On 21 July, the Treasury set out the next steps in its plan to extend Making Tax Digital (MTD) to all businesses and those taxpayers that file self assessment returns.

Thursday, August 6, 2020

Government announces review of business rates scheme

The government has published a call for evidence on the overhaul of the business rates system that applies in England.

Thursday, August 6, 2020

Eat Out to Help Out now up and running

On 1 August, the government's Eat Out to Help Out scheme began operating at eateries across the country.

Thursday, August 6, 2020

Scottish government cuts LBTT to help home buyers

On 15 July, the Scottish government reduced the rate of Land and Buildings Transaction Tax.

Thursday, August 6, 2020

Wales reduces LTT rate

On 27 July, the Welsh government reduced the rate of Land Transaction Tax.

Thursday, August 6, 2020

Chancellor asks OTS to review capital gains tax

Chancellor Rishi Sunak has asked the Office of Tax Simplification (OTS) to carry out a thorough review of capital gains tax.

Thursday, August 6, 2020

Overclaimed COVID grants

Taxpayers who have received CJRS or SEISS grants are urged to doublecheck their entitlement as the 90 day period to inform HMRC of any overclaimed amounts is now law.

Thursday, August 6, 2020

Chancellor unveils three-point plan for jobs

On 8 July, Chancellor Rishi Sunak announced a three-point plan to support jobs in the wake of the COVID-19 pandemic when he delivered a Summer Economic Update to Parliament.

Wednesday, July 8, 2020

Stamp duty temporarily reduced

Chancellor Rishi Sunak announced a temporary cut in the rate of Stamp Duty Land Tax (SDLT) in order to boost confidence in the flagging housing market in his Summer Economic Update.

Wednesday, July 8, 2020

Flexible furloughing starts on job retention scheme

On 1 July, changes to the Coronavirus Job Retention Scheme (CJRS) saw flexible furloughing introduced.

Wednesday, July 8, 2020

Government expands aid for start-ups and innovators

The government has expanded its COVID-19 support for start-ups and innovative companies with the launch of a new fund.

Wednesday, July 8, 2020

Bank of England increases stimulus package for UK economy

The Bank of England has increased the stock of purchases of UK government bonds to help boost the UK economy following the coronavirus (COVID-19) pandemic.

Wednesday, July 8, 2020

FCA confirms further support for consumer credit customers

The Financial Conduct Authority (FCA) has confirmed further support for users of certain consumer credit products if they are experiencing temporary payment difficulties due to the coronavirus pandemic.

Wednesday, July 8, 2020

Private sector off-payroll reforms given go ahead for April 2021

The introduction of off-payroll rules to the private sector will go ahead as planned next April after an attempt to delay them failed in the House of Commons.

Wednesday, July 8, 2020

Late payment crisis has worsened during coronavirus lockdown

The Federation of Small Businesses (FSB) has found that the UK's late payment crisis has worsened during the coronavirus (COVID-19) lockdown.

Wednesday, July 8, 2020

Chancellor announces changes to Job Retention Scheme

Chancellor Rishi Sunak has announced changes to the government''s Coronavirus Job Retention Scheme (JRS).

Monday, June 8, 2020

COVID-19: delay to VAT reverse charge on construction services

On 5 June 2020, HMRC announced a five-month delay to the introduction of the domestic VAT reverse charge for construction services.

Monday, June 8, 2020

Loan size increased to £200 million under large business interruption scheme

Several changes to the CLBILS scheme have taken effect from 26 May.

Monday, June 8, 2020

Future Fund launches to give start-ups coronavirus support

On 20 May 2020, the government launched its Future Fund package, which aims to support start-up businesses not eligible for other COVID-19 rescue measures.

Monday, June 8, 2020

Coronavirus Statutory Sick Pay Rebate Scheme goes live

On 26 May 2020, HMRC opened up its Statutory Sick Pay (SSP) rebate claim service.

Monday, June 8, 2020

Changes to insolvency and company law going through Parliament

The government is making changes to insolvency and company law as a result of the COVID-19 pandemic.

Monday, June 8, 2020

UK sets out post-Brexit tariff regime

The UK government published its plans for a new import tariff regime following the end of the Brexit transition period.

Monday, June 8, 2020

MPs open inquiry into £155 billion of tax reliefs

The Public Accounts Committee (PAC) has opened an inquiry into the UK's management of tax relief.

Monday, June 8, 2020

Government launches small business micro loan scheme

On 4 May 2020 the government launched the Bounce Back Loan Scheme.

Wednesday, May 6, 2020

Lenders relax evidence requirements for business interruption loan scheme applications

On 27 April 2020 the UK's seven largest small business lenders announced they had relaxed their evidence requirements for applications to the Coronavirus Business Interruption Loan Scheme (CBILS).

Wednesday, May 6, 2020

Job Retention Scheme goes live

On 20 April 2020 the government's Coronavirus Job Retention Scheme went live for applications.

Wednesday, May 6, 2020

HMRC releases guidance for self-employed scheme

HMRC has released guidance on the COVID-19 Self-employment Income Support Scheme.

Wednesday, May 6, 2020

Government launches support finding tool for business

The UK government launched an online platform to help businesses access financial support during the COVID-19 crisis.

Wednesday, May 6, 2020

OBR predicts UK economy will shrink by over a third

The Office for Budget Responsibility (OBR) has warned that the UK economy could shrink by 35% this quarter due to the COVID-19 crisis.

Wednesday, May 6, 2020

Government borrowing could rise to £300 billion

The Centre for Policy Studies (CPS) has suggested that government borrowing may rise to £300 billion in 2020 as a result of the COVID-19 pandemic.

Wednesday, May 6, 2020

HMRC extends late reporting deadline for CGT

HMRC has confirmed it will not charge penalties for the late reporting of capital gains tax (CGT) on disposals of UK residential property by UK residents made by 31 July 2020.

Wednesday, May 6, 2020