Making Tax Digital
Further update on Making Tax Digital which came into effect on the 1st April 2021. Please be aware HMRC can now impose PENALTIES for non compliance.
Self Employed Income Support Scheme (SEISS) - 4th Grant Claim
The rules on who is eligible to claim have changed. Self-employed people who are eligible and in need of support will need to make a claim for the fourth grant NO LATER than the 1st June 2021.
The Job Retention Scheme (CJRS) will COME TO AN END on the 30th September 2021.
The rules relating to off-payroll workers, commonly known as IR35, are due to change from 6 April 2021. The changes revolve around tax and employment status, and who makes the decision on that status. The change applies to those off-payroll workers who provide personal services to clients in the private sector through an ‘intermediary’.
Reverse Vat Charge
1st March 2021
The VAT domestic reverse charge for building and construction services is now scheduled to come into effect from 1 March 2021. The original introduction date was changed from 1 October 2019 to 1 October 2020 and revised again in June 2020 due to the impact of the coronavirus (COVID-19).
Making Tax Digital
Making Tax Digital for VAT (MTDfv) ushers in mandatory new requirements from 2019. However, the change isn’t just about VAT: MTD affects the very way that businesses keep accounting records. In this factsheet, we outline how you can plan for compliance.
Budget 2021: Rishi Sunak vows to steer UK economy through the Coronavirus crisis. Following this, we have put together a PDF which provides an overview of the updated forecasts for the UK economy and public finances, which we trust you will find useful.
The United Kingdom officially left the European Union (EU) on 31 January 2020 and the 11-month transitional period ended on 1 January 2021. There are important changes businesses must now make in order to continue trading with the EU.
4th May 2020
BUSINESS BOUNCE BACK LOAN
The new “Business Bounce Back” loans will be 100% guaranteed by the taxpayer and will provide firms with up to 25% of their turnover up to £50,000 with no interest payable in the first year.