Self-assessment taxpayers can “automatically defer payments on account”, HMRC confirms
Jul 20, 2020
Self-employed taxpayers due to make a payment on account can automatically defer the payment until 31 January 2021, it has been confirmed. The second Self Assessment payment on account for the tax year 2019/20 is usually due at the end of ...
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UK SMEs optimistic for future despite Coronavirus pandemic
Jul 16, 2020
According to the latest research, the majority of UK based small and medium-sized enterprises (SMEs) are optimistic about the future despite the huge challenges many businesses are facing as a result of the pandemic. The research, which was compiled by Facebook, ...
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“Tax gap” falls to lowest level on record
Jul 14, 2020
The “tax gap” – the difference between what should be paid and what is actually paid – has fallen to its lowest recorded rate, new figures have revealed. HM Revenue & Customs (HMRC) said the record is a collaborative result of ...
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Summer Economic Update
Jul 08, 2020
When the Chancellor, Rishi Sunak, delivered his Spring Budget on 11 March to the packed benches of the House of Commons, the hope was that the economic impact of the Coronavirus outbreak would be ‘V-shaped’, with an immediate bounce back ...
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COVID-19: Government set to introduce Stamp Duty holiday
Jul 07, 2020
The Chancellor, Rishi Sunak, is set to announce the introduction of a Stamp Duty holiday in his summer statement on Wednesday 8 July 2020. Several financial measures are expected to be announced in the summer statement as the Government looks to ...
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Don’t forget to make an SEISS claim by 13 July!
Jul 06, 2020
Individuals eligible for the first Self-Employment Income Support (SEISS) grant must submit their claim by 13 July 2020. The first round of SEISS funding allows self-employed individuals, who have been adversely affected by COVID-19 on ...
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Key dates for Coronavirus support schemes
Jun 29, 2020
With numerous Government schemes open to businesses and individuals to help deal with the impact of the Coronavirus outbreak, there are dozens of key dates to be aware of in the coming months, including: 30 June 2020 End date of the VAT ...
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Guidance published on repaying Coronavirus Job Retention Scheme overpayments
Jun 29, 2020
HM Revenue & Customs (HMRC) has published new guidance detailing how employers can repay Coronavirus Job Retention Scheme (CJRS) grants if they have over-claimed and therefore received an overpayment. If an employer has received an overpayment and is making further claims, ...
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Coronavirus grants to businesses, employers and individuals are taxable
Jun 29, 2020
We are reminding businesses, employers, employees and self-employed individuals that grants from the various Government schemes to provide support during the Coronavirus outbreak are taxable in the same way as other income. Payments made under schemes including the Coronavirus Job Retention ...
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Can I save money by leasing a car through my company?
Jun 29, 2020
Is it cheaper to lease a car through a limited company? It’s a question we’re often asked, but the answer isn’t quite so straightforward. Leasing a vehicle in any shape or form can save you money and improve cash flow by ...
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