Making Tax Digital extended to all VAT-registered businesses from 2022, HMRC reveals

Posted in Blog, Making Tax Digital, Tax | Posted on 4 Aug, 2020

Making Tax Digital (MTD) will be extended to all VAT-registered businesses from April 2022, it has been confirmed.

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Chancellor considers online sales tax for e-commerce retail sector

Posted in Blog, COVID-19 Knowledge Hub, Economy, HMRC, SMEs, SMEs / Business, Tax | Posted on 27 Jul, 2020

The Chancellor, Rishi Sunak, is considering the introduction of a new sales tax for the online retail sector in a bid to help the struggling high street compete with the e-commerce sector.

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Self-assessment taxpayers can “automatically defer payments on account”, HMRC confirms

Posted in Blog, Economy, HMRC, Tax | Posted on 20 Jul, 2020

Self-employed taxpayers due to make a payment on account can automatically defer the payment until 31 January 2021, it has been confirmed.

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“Tax gap” falls to lowest level on record

Posted in Blog, Economy, HMRC, SMEs, SMEs / Business, Tax | Posted on 14 Jul, 2020

The “tax gap” – the difference between what should be paid and what is actually paid – has fallen to its lowest recorded rate, new figures have revealed.

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COVID-19: Government set to introduce Stamp Duty holiday

Posted in Blog, COVID-19 Knowledge Hub, HMRC, Tax | Posted on 7 Jul, 2020

The Chancellor, Rishi Sunak, is set to announce the introduction of a Stamp Duty holiday in his summer statement on Wednesday 8 July 2020.

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Charities handed “lifeline” as Government announces “biggest ever one-off investment in UK culture”

Posted in Blog, COVID-19 Knowledge Hub | Posted on 7 Jul, 2020

The Government has announced a £1.57 billion rescue package to support the nation’s “world-class cultural, arts and heritage institutions”. According to the report, the emergency grants and loans will be available to not-for-profit and private

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Can I save money by leasing a car through my company?

Posted in Blog, HMRC, SMEs, SMEs / Business, Tax | Posted on 29 Jun, 2020

Is it cheaper to lease a car through a limited company? It’s a question we’re often asked, but the answer isn’t quite so straightforward.

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Coronavirus: UK businesses owed £133 billion since the start of lockdown

Posted in Blog, COVID-19 Knowledge Hub, Economy, SMEs, SMEs / Business | Posted on 25 Jun, 2020

UK businesses are owed more than £133 billion since the Government’s lockdown measures were introduced in March, with the average business waiting on almost £150,000 for work completed prior to the lockdown.

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Not-for-profit sector facing “£10.1 billion” funding shortfall over next six months

Posted in Blog, COVID-19 Knowledge Hub | Posted on 17 Jun, 2020

More than two in five charities have now applied for emergency funding as a result of Covid-19 disruption, it has been revealed. The finding forms part of the Pro Bono Economics weekly tracker, a survey

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Stamp duty: Government relaxing three-year rule for reclaiming surcharge for exceptional circumstances in relation to COVID-19

Posted in Blog, COVID-19 Knowledge Hub, Tax | Posted on 15 Jun, 2020

The Government is relaxing the three-year rule for reclaiming the Stamp Duty Land Tax (SDLT) surcharge for exceptional circumstances where a property could not be sold during the three-year time limit because of the impact

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