HMRC’s VAT Deferral New Payment Scheme closes 21 June 2021

Businesses that deferred VAT payments last year have less than a month left to join online and pay in monthly instalments under the VAT Deferral New Payment Scheme, HMRC has warned.

The online portal for the new payment scheme will close on 21 June 2021.

Read More

Fourth Self-Employment Income Support Scheme Grant

The online service to claim the fourth grant will be available from late April 2021.

If you’re eligible based on your tax returns, HMRC will contact you in mid-April to give you a date that you can make your claim from. It will be given to you either by email, letter or within the online service.

You’ll need to confirm you meet other eligibility criteria when you make your claim.

You must make your claim on or before 1 June 2021.

Find out more here

Budget 2021 Overview

 

On 3rd March the Chancellor Rishi Sunak delivered the 2021  Budget.

12 months ago when he delivered his first budget the Coronavirus pandemic had just started but none of us could have imagined the scale of the COVID-19 crisis that lay ahead. The Chancellor’s Budget for recovery focused on continuing and enhancing economic support with initiatives and tax incentives to rebuild the economy and make it more productive and pro-growth.

Read More

Changes to late filing penalty for 2019-20 Self Assessment Returns

Today HMRC has announced that Self Assessment Tax Returns for 2019-20 will not receive a late filing penalty as long as the Return is filed online by 28 February.  However, Interest will still be charged from 1 February on any outstanding liabilities.   Therefore, we are encouraging our clients to still aim to file Returns and pay their tax liabilities by 31 January, if possible.