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Newsletter 154

Business rates relief extended with £1.5 billion fund Consultations launched on UK’s first Tax Day Government publishes details of Finance Bill 2021 £20 million SME Brexit Support Fund opens for applications HMRC publishes details of final grants for self-employed National Minimum and Living wages increases UK cuts electric vehicle grants by £500 ICAEW urges HMRC to rethink…

NEWSLETTER 153

Sunak set out Budget to protect businesses Business groups welcome Budget Late payment penalties for Self Assessment waived until 1 April Online service opens for VAT deferral scheme HMRC clarifies off-payroll rules Domestic VAT reverse charge comes into effect on 1 March Borrowers of Bounce Back loans given six more months for repayments Advisory fuel rates for company…

Newsletter 152

Meet our new staff 10.7 million taxpayers submitted their 2019/20 Self Assessment Tax Returns Rogue employers named and shamed for failing to pay employees the minimum wage Scottish Budget Income Tax Scottish Land and Buildings Transaction Tax Bonus of £1,000 to help businesses take on trainees LITRG calls for a rise in the High Income…

Newsletter 151

Chancellor announces £4.6 billion lockdown grant package Extension of the Job Retention Scheme VAT Deferral HMRC and Advertising Standard Authority launch new action to disrupt promoters of tax avoidance schemes Self assessment deadline approaching Institute of Directors warns Capital Gains Tax (CGT) rise would adversely affect entrepreneurs Individuals urged to remain vigilant when making festive…

Newsletter 150

This is our final Newsletter of 2020. A year quite like any other , overshadowed by a virus which has governed peoples lives for nine months and of course our impending exit from the EU. We have seen huge amounts of financial support from the Government to businesses both large and small. We have seen…

Coronavirus Job Retention Scheme Claims

HMRC have published details of the time limits for making Coronavirus Job Retention Scheme claims in respect of employees who are furloughed. All claims for periods from 1 July 2020 to 31 October 2020 must be submitted no later than 30 November 2020.  Claims from 1 November 2020 are subject to even tighter timescales:  …

Newsletter 149

Furlough scheme extended Increased support made available for the self employed Chancellor approves grants for businesses closed by lockdown Self assessment customers to benefit from enhanced payment plans 54,800 customers claim tax relief for working from home Brexit imports and exports Latest guidance for employers Furlough scheme extended On 5 November, Chancellor Rishi Sunak announced that…

Self Employment Income Support Scheme Grants – Scheme Closing Shortly

The second and final taxable grant is worth 70% of an individual’s average monthly trading profits, paid out in a single instalment covering three months’ worth of profits, and capped at £6,570 in total. Applications for the second and final grant is closing shortly, taxpayers must make a claim on or before 19 October 2020….

Newsletter 148

COVID-19 Job Support Scheme Winter Economy Plan support for the self-employed VAT deferral and enhanced Time to Pay for self assessment Changes to the Bounce Back Loan and Coronavirus Business Interruption Loan Schemes The VAT reverse charge Ministers announce new grants for businesses affected by local lockdowns New trade arrangements with the EU from 1…

Newsletter 147

Plastic bag tax charge to be doubled and extended to all retailers More than £30 million lost to pension scams Advisory fuel rates for company cars Eat Out to Help Out – over 64 million meals Self assessment deadlines HMRC latest guidance for employers Kickstart Scheme opens for applications Self Employment Income Support Scheme Grants…

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Registered Office Empress House :: 43a Binley Road :: Coventry CV3 1HU :: T 024 7663 5522 :: F 024 7663 5518 :: E clientcare@walkerthompson.co.uk