Between 20 March 2020 and 30 June 2020, there was a scheme for the deferral of payment of VAT. In total, £33.5bn has been deferred. Businesses that deferred had three options: Pay in full by 31 March 2021. Join a new payment scheme by 21 June 2021 to spread their repayments. By 30 June 2021, […]
Deferral of VAT payment – risk a 5% penalty Read More »
HMRC is reminding taxpayers to submit tax relief claims for working from home due to coronavirus during 2021/22 via the easy to use online portal So far this tax year more than 550,000 employed workers have already claimed and are benefitting from the tax relief, which pays £6 a week for home workers. If employed
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HMRC have confirmed that they will shortly be contacting eligible self-employed individuals regarding availability of the fourth SEISS grant based on their tax returns in mid-April 2021 to give a date for making applications. Communications will be sent either by e-mail, letter or within the online service. The online service to claim the fourth grant
HMRC to contact self-employed claimants for grant four SEISS applications Read More »
Released 06 April 2021 The government-backed recovery loan scheme aimed at providing additional finance to businesses that need it, launched on 6 April 2021. The scheme, which was announced at budget and runs until 31 December 2021, will be administered by the British Business Bank, with loans available through a diverse network of accredited commercial
Recovery loan scheme launches Read More »
The 4th and 5th SEISS grants The government has released more information relating to the 4th grant which will cover the period from February 2021 to April 2021. Eligibility for the 4th and 5th grants will be based on the 2019/2020 tax return as submitted by midnight on Tuesday 2 March and so the grants
Self-Employment Income Support Scheme (SEISS) grant extension Read More »
New Coronavirus Job Retention Scheme (CJRS) guidance is now available on GOV.UK. To check if you are eligible and to get ready to claim, go to GOV.UK and search ‘Coronavirus Job Retention Scheme’. You can start to apply for CJRS online from Wednesday 11 November – for periods from 1 November. You will need to submit
Extension to the Coronavirus Job Retention Scheme (CJRS) Read More »
Whether you are importing or exporting, there are important VAT and duty rules and procedures. These depend on whether you are dealing with a customer or supplier in another European Union (EU) country, or with the rest of the world. In either case, you must ensure that you charge (or pay) the right amount of
Understanding VAT and duty on imports and exports Read More »
If you deferred payments that were due between 20 March and 30 June 2020, then these payments need to be made to HMRC by 31 March 2021. Employers can use the New Payment Scheme to spread these payments over equal instalments up to 31 March 2022. Alternatively, they can make payments as normal by 31 March 2021 or make Time
VAT Deferral New Payment Scheme Read More »
If you deferred paying your July 2020 Payment on Account, you will need to pay the deferred amount, in addition to any balancing payment and first 2020/21 Payment on Account, by 31 January 2021. This may be a larger payment than you usually pay in January. If you are unable to pay your Self-Assessment (SA) bill
New Self Assessment Self-Serve Time To Pay Scheme Read More »
The government has extended the temporary reduced rate of VAT (5%) to tourist attractions and goods and services supplied by the hospitality sector. This relief came into effect on 15 July 2020 and will now end on 31 March 2021 across the UK.
Extension to the reduced rate of VAT for Hospitality and Tourism Read More »
