Latest News for Business

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06 Apr 2021

Business rates relief extended with £1.5 billion fund

The government is to extend business rates relief with a £1.5 billion fund targeted at those businesses unable to benefit from the current COVID-19 support.

06 Apr 2021

Consultations launched on UK's first Tax Day

The government has published over 30 updates, consultations and documents on the UK's first ever Tax Day.

06 Apr 2021

Government publishes details of Finance Bill 2021

The details of the Finance Bill 2021 have been published by the government.

06 Apr 2021

£20 million SME Brexit Support Fund opens for applications

The UK government has unveiled a £20 million Brexit support package to help small and medium-sized enterprises (SMEs) with changes to customs and tax rules when trading with the EU.

06 Apr 2021

HMRC publishes details of final grants for self-employed

HMRC has published details of the eligibility criteria of the final two grants available under the Self-employment Income Support Scheme (SEISS).

06 Apr 2021

National Minimum and Living wages increases

UK workers are set to benefit from rises in the National Minimum Wage (NMW) and the National Living Wage (NLW) rates that took effect from 1 April 2021.

06 Apr 2021

UK cuts electric vehicle grants by £500

The government has cut the Plug-in Car Grant and Van & Truck Grant by £500 and lowered the pricing cap on qualifying electric vehicles.

06 Apr 2021

ICAEW urges HMRC to rethink quarterly reports under MTD for corporation tax

The Institute of Chartered Accountants in England and Wales has urged HMRC to rethink the requirement for companies to report quarterly under Making Tax Digital for corporation tax.

08 Mar 2021

Sunak set out Budget to protect businesses

Chancellor Rishi Sunak set out a Budget to protect businesses through the pandemic, fix the public finances and begin building the future economy.

08 Mar 2021

Business groups welcome Budget

Business groups welcomed the Chancellor's Budget for protecting the economy now and kickstarting recovery from the COVID-19 pandemic.

08 Mar 2021

Late payment penalties for Self Assessment waived until 1 April

HMRC has announced that Self Assessment taxpayers will not be charged a 5% late payment penalty if they pay their tax or set up a payment plan by 1 April.

08 Mar 2021

Online service opens for VAT deferral scheme

HMRC has announced that businesses that deferred VAT payments last year can now join the new online VAT Deferral New Payment Scheme to pay it in smaller monthly instalments.

08 Mar 2021

HMRC clarifies off-payroll rules

HMRC has published a briefing on its approach to the changes to off-payroll working rules, commonly known as IR35, which will be introduced on 6 April 2021.

08 Mar 2021

Domestic VAT reverse charge comes into effect on 1 March

The twice-delayed introduction of the domestic VAT reverse charge for construction services came into effect on 1 March 2021.

08 Mar 2021

Borrowers of Bounce Back loans given six more months for repayments

Businesses that took out government-backed Bounce Back loans to get through the coronavirus (COVID-19) pandemic will now have greater flexibility to repay their loans, the government has announced.

08 Mar 2021

Advisory fuel rates for company cars

New company car advisory fuel rates have been published and took effect from 1 March 2021.

04 Mar 2021

Spring Budget 2021

The Chancellor Rishi Sunak presented his second Budget on Wednesday 3 March 2021.

04 Feb 2021

10.7 million taxpayers submitted their 2019/20 Self Assessment tax returns

HMRC has revealed that more than 10.7 million taxpayers submitted their 2019/20 Self Assessment tax returns by the 31 January deadline.

04 Feb 2021

Rogue employers named and shamed for failing to pay employees the minimum wage

HMRC has published the names of 139 named companies that failed to pay minimum wages amounting to £6.7 million to over 95,000 workers.

04 Feb 2021

Scottish Budget Income Tax

Finance Secretary Kate Forbes delivered the 2021/22 Scottish Draft Budget on Thursday 28 January 2021, setting out the Scottish Government's financial and tax plans.

04 Feb 2021

Scottish Land and Buildings Transaction Tax

As part of the Scottish Budget, Finance Secretary Kate Forbes also announced changes to Land and Buildings Transaction Tax (LBTT) which apply from 1 April 2021.

04 Feb 2021

Bonus of £1,000 to help businesses take on trainees

The government has announced that employers can now apply for a £1,000 bonus, a cash boost, to help them take on new trainees.

04 Feb 2021

LITRG calls for a rise in the High Income Child Benefit Charge threshold

The Low Incomes Tax Reform Group (LITRG) has urged the government to raise the High Income Child Benefit Charge (HICBC) threshold to avoid it affecting basic-rate taxpayers for the first time in April 2021.

04 Feb 2021

Government urged by CBI to act on COVID business support ahead of Budget

The Confederation of British Industry (CBI) has urged the government to provide more financial assistance to businesses affected by the coronavirus (COVID-19) pandemic ahead of the Budget on 3 March 2021.

04 Feb 2021

Supreme Court backs small firms on business interruption claims

The UK's Supreme Court has found in favour of small firms receiving payments from COVID-19 business interruption insurance policies.

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06 Apr 2021

Business rates relief extended with £1.5 billion fund

The government is to extend business rates relief with a £1.5 billion fund targeted at those businesses unable to benefit from the current COVID-19 support.

06 Apr 2021

Consultations launched on UK's first Tax Day

The government has published over 30 updates, consultations and documents on the UK's first ever Tax Day.