HMRC
One in five small businesses not entitled to financial support, FSB reveals
Feb 11, 2021
As many as one in five small businesses and sole traders are not entitled to financial support under the Government’s coronavirus support package, it has been revealed. The Federation for Small Businesses (FSB), who published the report, said up to three ...
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Self Assessment: thousands spread tax liabilities in response to coronavirus disruption
Jan 14, 2021
Thousands of self-employed workers have taken advantage of the Government’s extended Time to Pay scheme ahead of the 31 January Self Assessment deadline, a new report has revealed. HM Revenue & Customs (HMRC) said around 25,000 taxpayers have now registered to ...
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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. ...
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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 ...
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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 ...
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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 ...
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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 ...
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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 ...
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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 ...
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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 ...
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