Latest News for Business

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06 Jan 2021

Chancellor announces £4.6 billion lockdown grant package

Chancellor Rishi Sunak has announced a new £4.6 billion package of grants to support businesses through the latest national lockdown.

06 Jan 2021

Extension of the Job Retention Scheme

Chancellor Rishi Sunak has extended the Coronavirus Job Retention Scheme (CJRS) until the end of April 2021.

06 Jan 2021

VAT deferral

HMRC has issued some guidance to taxpayers that deferred their VAT payments between 20 March and 30 June 2020 and still have payments to make.

06 Jan 2021

New action to disrupt promoters of tax avoidance schemes

HMRC and the Advertising Standards Authority (ASA) have launched a new joint enforcement notice to cut out misleading marketing by promoters of tax avoidance schemes.

06 Jan 2021

Self assessment deadline approaching

The deadline for submitting your 2019/20 self assessment return is 31 January 2021.

06 Jan 2021

Institute of Directors warns Capital Gains Tax rise would adversely affect entrepreneurs

The Institute of Directors (IoD) has warned the government that a rise in CGT would affect Britain's entrepreneurial spirit.

06 Jan 2021

Individuals urged to remain vigilant when making festive charitable donations

Action Fraud has warned the public to remain vigilant when making festive charitable donations as the number of scams rises.

06 Jan 2021

Self-Employment Income Support Scheme

HMRC is advising the self employed that the Self-Employment Income Support Scheme (SEISS) has been extended.

05 Dec 2020

Get prepared for the end of the Brexit transitional period

It is time to prepare for the end of the Brexit transitional period.

05 Dec 2020

Virtual Christmas parties will qualify for tax exemption

HMRC has confirmed that they will accept a virtual Christmas party as an event which is capable of falling within the tax exemption rules for annual functions.

05 Dec 2020

Gifts to employees can be tax-free

Some employers may wish to give a small gift to their employees. As long as the employer meets the relevant conditions, no tax charge will arise on the employee.

05 Dec 2020

Minimum Wage Increases from April 2021

Increased minimum wage rates have been announced to take effect from 1 April 2021.

05 Dec 2020

Advisory fuel rates for company cars

New company car advisory fuel rates have been published and took effect from 1 December 2020.

05 Dec 2020

Self assessment taxpayers warned to watch out for scammers posing as HMRC

HMRC is warning self assessment taxpayers to be alert to the danger of scammers posing as the tax authority in the lead up to the tax return deadline.

05 Dec 2020

HMRC confirms MTD for corporation tax to be mandated from 2026

In a new consultation HMRC has confirmed that Making Tax Digital for corporation tax will not be implemented until 2026 'at the earliest'.

05 Dec 2020

£1 million Annual Investment Allowance cap extended

The Treasury has confirmed that the £1 million cap on the Annual Investment Allowance (AIA) is to be extended for an additional year as the government continues to look at ways to stimulate the economy.

05 Nov 2020

Furlough scheme extended

On 5 November, Chancellor Rishi Sunak announced that as part of the new national lockdown the Coronavirus Job Retention Scheme (CJRS) has been extended until the end of March 2021.

05 Nov 2020

Increased support made available for the self employed

The government has increased the support available to self-employed workers and extended its emergency business loan schemes.

05 Nov 2020

Chancellor approves grants for businesses closed by lockdown

Chancellor Rishi Sunak has announced approved additional funding for cash grants to support businesses required to close in England due to the lockdown.

05 Nov 2020

Self assessment customers to benefit from enhanced payment plans

Self assessment taxpayers are now able to benefit from enhanced payment plans and can apply online for additional support to help spread their tax bill into monthly payments.

05 Nov 2020

Taxpayers claim tax relief for working from home

HMRC has received more than 54,800 claims from taxpayers using a new online portal which allows workers to claim tax relief for working at home.

05 Nov 2020

Brexit imports and exports

From 1 January 2021, the UK will operate a full external border with the EU, which will entail major changes for imports and exports to and from the trading bloc.

05 Nov 2020

ATT issues last call for firms seeking to use increased Annual Investment Allowance

The Association of Taxation Technicians (ATT) has issued a last call for businesses looking to make use of the increased Annual Investment Allowance (AIA).

05 Nov 2020

Latest guidance for employers

HMRC has published the latest issue of the Employer Bulletin.

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06 Jan 2021

Chancellor announces £4.6 billion lockdown grant package

Chancellor Rishi Sunak has announced a new £4.6 billion package of grants to support businesses through the latest national lockdown.

06 Jan 2021

Extension of the Job Retention Scheme

Chancellor Rishi Sunak has extended the Coronavirus Job Retention Scheme (CJRS) until the end of April 2021.