HMRC’s tax take falls by billions due to pandemic
Posted on Tuesday, December 14th, 2021
HMRC saw a drop of almost £30 billion in tax revenues in the latest financial year because of the pandemic, according to its annual accounts. In its 2020/21 annual report, HMRC reported that it had collected £608.8 billion in... Read Full Article...
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Government sets out tax details on TAM Day
Posted on Tuesday, December 14th, 2021
The UK government marked the inaugural Tax Administration and Maintenance (TAM) Day with the publication of 30 papers covering a wide range of tax issues. Chancellor Rishi Sunak made the commitment to have a TAM Day in... Read Full Article...
Three-day wait for Statutory Sick Pay to return next year
Posted on Tuesday, December 14th, 2021
The standard three-day waiting time for Statutory Sick Pay (SSP) will be reinstated for coronavirus (COVID-19)-related claims from 25 March 2022, unless the government intervenes. Under standard rules in the UK, employers do not have to pay... Read Full Article...
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HMRC issues warning on self assessment scams
Posted on Tuesday, December 14th, 2021
HMRC has warned taxpayers completing their 2020/21 tax returns to ‘be on their guard’ and stay vigilant in regard to tax-related scams. Nearly 800,000 tax scams were reported in the last year, HMRC revealed. It said that... Read Full Article...
New law introduced to help protect pension savers from scammers
Posted on Tuesday, December 14th, 2021
New rules to help protect pension savers from scammers have become law. Under the regulations, pension trustees and scheme managers will be given the power to stop suspicious transfers before cash gets into the hands of fraudsters.... Read Full Article...
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Services sector continues to recover despite rising costs
Posted on Tuesday, December 14th, 2021
Optimism improved for firms across the services sector in the three months to November, according to the latest Service Sector Survey from the Confederation of British Industry (CBI). However, cost growth continued to pick up, increasing at... Read Full Article...
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Advisory fuel rates for company cars
Posted on Tuesday, December 14th, 2021
New company car advisory fuel rates have been published and took effect from 1 December 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...
Costs ‘weighing on businesses’ sustainability intentions’, FSB finds
Posted on Tuesday, December 14th, 2021
A report published by the Federation of Small Businesses (FSB) has revealed that the costs associated with going green have impacted small firms’ plans for becoming more sustainable. The FSB’s report found that the majority of UK... Read Full Article...
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