UK government has made changes to the plug-in vehicle grant scheme
As public awareness of the damages caused by motor vehicle pollution increases, a growing number of the population are looking to switch to electric, or hybrid, vehicles. Even for those who are not particularly environmentally conscious, switching to an electric vehicle has become more attractive due to government plans of stopping fossil-fueled car sales by […]
£20 million Brexit support for small and medium sized businesses
The UK officially leaving the EU has resulted in a number of new customs and tax rule changes when trading with the EU. As such, from 15 March 2021, smaller businesses are able to apply for grants of up to £2,000 to help them with the adaption process. This comes as part of the £20 […]
The Stamp Duty Land Tax Holiday Ends 30 June 2021
In his spring budget review, the Chancellor, Rishi Sunak announced a 3 month extension to the Stamp Duty Land Tax Holiday. However, this is due to end on 30 June 2021 which is rapidly approaching. This article summarises the details of the Stamp Duty Holiday so that you can take advantage of it while it’s […]
Bounce back loan borrowers now able to delay repayments for another 6 months
The Chancellor has announced that businesses which took out government-backed Bounce Back Loans will now have greater flexibility to repay their loans. Those who took out bounce back loans as a result of the covid-19 pandemic will now have the option to delay all repayments for a further 6 months, thanks to the ‘Pay as […]
VAT Reverse charge starts March 2021
From 1 March 2021 the domestic VAT reverse charge must be used for most supplies of building and construction services. The charge will apply to both standard and reduced-rate VAT services: for individuals or businesses who are registered for VAT in the UK reported within the Construction Industry Scheme What is reverse charge for VAT? […]
Record number of people miss UK self-assessment tax filing deadline
A record number of 1.8 million people have missed the deadline to submit their UK personal tax return, a figure that is almost double last year’s total and the highest in the system’s 24-year history. This just goes to show the devastating impact which 2020 and the coronavirus pandemic has had on all aspects of […]
IR35 – Important Changes From 6 April 2021
What is IR35? IR35 is a tax anti-avoidance rule designed to combat “disguised employment” in situations where an individual contractor is providing their personal services (i.e. their labour) to an end-user via their own intermediary, such as a personal services company or partnership (PSC) for tax benefits. Under current (i.e. pre-April 2021) IR35 rules, the […]
Supreme Court Tells Insurance Companies To Pay Claims Over Covid
Thousands of businesses are to receive payouts for losses from the covid-19 pandemic after the Supreme court has set out when insurance claims should be paid. The Supreme court has upheld the arguments that have been made by the financial regulator and dismissed those of the insurance industry. The result of this will be millions […]
How to defer payment of the March, May & June 2020 VAT returns
If you deferred VAT between 20 March and 30 June 2020 and still have payments to make, you can: pay the deferred VAT in full on or before 31 March 2021 opt in to the VAT deferral new payment scheme when it launches in 2021 contact HMRC if you need more help to pay […]
No Fine If Covid Makes You Miss Your Tax Return Deadline
You will no longer be fined for filing your tax return late if your business has been affected by coronavirus. These new rules will benefit millions of workers and will alleviate some pressure off many individuals. Those affected businesses that will not be able to file their tax returns by 31 January will be able […]
