BCC calls for ‘urgent action’ to improve UK-EU trade
Posted on Monday, February 28th, 2022
The British Chambers of Commerce (BCC) has called for urgent action to help improve trade with the EU. A survey carried out by the BCC revealed that 60% of UK exporters reported difficulties trading with the EU.... Read Full Article...
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Chancellor announces £1 billion fund for businesses
Posted on Friday, January 14th, 2022
On 21 December 2021, Chancellor of the Exchequer, Rishi Sunak, unveiled a £1 billion COVID-19 fund, including cash grants of up to £6,000 per premises for each eligible firm. Mr Sunak said the government would also help certain firms with the... Read Full Article...
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Self assessment taxpayers must declare COVID grants on tax returns
Posted on Friday, January 14th, 2022
HMRC has reminded self assessment taxpayers to declare any COVID-19 grant payments on their 2020/21 tax return. According to HMRC, more than 2.7 million customers claimed at least one Self-employment Income Support Scheme (SEISS) payment up to... Read Full Article...
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HMRC waives self assessment penalties for one month to ease COVID-19 pressures
Posted on Friday, January 14th, 2022
HMRC is waiving late filing and late payment penalties for self assessment taxpayers for one month. The measure will give those taxpayers affected by the coronavirus (COVID-19) extra time, if they need it, to complete their 2020/21... Read Full Article...
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Scottish Budget 2022
Posted on Friday, January 14th, 2022
Finance Secretary Kate Forbes delivered the 2022/23 Scottish Budget on 9 December 2021, setting out the Scottish Government’s financial and tax plans. The Budget outlined the government’s spending plans, income tax and Land and Buildings Transaction Tax.... Read Full Article...
Welsh government delivers Budget
Posted on Friday, January 14th, 2022
On 20 December 2021, the Welsh government outlined a Budget to ‘build a stronger, fairer and greener Wales‘. The Welsh government unveiled a £116 million package of funding to aid with the economic recovery from the COVID-19 pandemic.... Read Full Article...
FCA to introduce new consumer duty
Posted on Friday, January 14th, 2022
The Financial Conduct Authority (FCA) is set to introduce a new consumer duty to better protect users of financial services. The new rules will help tackle harmful practices such as providers of financial services presenting information in... Read Full Article...
HMRC latest guidance for employers
Posted on Friday, January 14th, 2022
HMRC has published the latest edition of the Employer Bulletin. This guidance for employers, and their agents, includes articles on: reporting PAYE information in real time when payments are made early at Christmas preventing and correcting payroll... Read Full Article...
Over 440,000 small firms at risk due to late payment crisis
Posted on Friday, January 14th, 2022
More than 440,000 small firms could be forced out of business by the late payment crisis, according to the Federation of Small Businesses (FSB). An FSB study of more than 1,200 business owners found that close to one in three... Read Full Article...
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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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