Sunak set out Budget to protect businesses
Posted on Monday, March 15th, 2021
Chancellor Rishi Sunak set out a Budget to protect businesses through the pandemic, fix the public finances and begin building the future economy. The Chancellor once again pledged to do ‘whatever it takes’ during the COVID-19 pandemic... Read Full Article...
Business groups welcome Budget
Posted on Monday, March 15th, 2021
Business groups welcomed the Chancellor’s Budget for protecting the economy now and kickstarting recovery from the COVID-19 pandemic. Tony Danker, Director General of the CBI, said: ‘The Chancellor has gone above and beyond to protect UK businesses... Read Full Article...
Late payment penalties for Self Assessment waived until 1 April
Posted on Monday, March 15th, 2021
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. The payment deadline for Self Assessment is... Read Full Article...
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Online service opens for VAT deferral scheme
Posted on Monday, March 15th, 2021
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. To take advantage of the new payment scheme... Read Full Article...
HMRC clarifies off-payroll rules
Posted on Monday, March 15th, 2021
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. Reiterating its advice from last year, HMRC has confirmed that... Read Full Article...
Domestic VAT reverse charge comes into effect on 1 March
Posted on Monday, March 15th, 2021
The twice-delayed introduction of the domestic VAT reverse charge for construction services came into effect on 1 March 2021. The change was originally scheduled to come into effect from 1 October 2019 but was deferred for 12... Read Full Article...
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Borrowers of Bounce Back loans given six more months for repayments
Posted on Monday, March 15th, 2021
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. The Pay as You Grow repayment flexibilities now include... Read Full Article...
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Advisory fuel rates for company cars
Posted on Monday, March 15th, 2021
New company car advisory fuel rates have been published and took effect from 1 March 2021. The guidance states: ‘You can use the previous rates for up to one month from the date the new rates apply’.... Read Full Article...