Prepare for new rules for transporting goods to or through Europe using cars and trailers, vans and HGVs from 2022. The rules are part of the UK’s deal with the EU (The Trade and Cooperation Agreement). The new rules will affect you if you transport goods using: cars and trailers vans or other light goods […]
As the result of recent increases in petrol and diesel prices HMRC have increased the advisory fuel rates that apply for the reimbursement of employees’ private fuel for their company cars. The same rates apply when the employer reimburses employees for fuel used for business journeys in their company car. Curiously the LPG reimbursement rates […]
Date What’s Due 1 September Corporation tax for year to 30/11/20 unless pay by quarterly instalments 19 September PAYE & NIC deductions, and CIS return and tax, for month to 5/9/21 (due 22 September if you pay electronically) 1 October Corporation tax for year to 31/12/20 unless pay by quarterly instalments 5 October Deadline for […]
The Coronvirus Job Retention Scheme (CJRS) will come to a close on 30 September 2021. The grant claims for employees furloughed in the month of September are 60% of the employee’s usual pay up to a maximum cap of £1,875. Make sure that you make your final claims for the month of September by 14 […]
If you are notifying HMRC of a decision to opt to tax land and buildings, you are normally required to notify HMRC within 30 days. The 30 day deadline was temporarily extended to 90 days to help businesses and agents during the pandemic, but that temporary extension has now ended for decisions made from 1 […]
HMRC have recently updated their guidance on accounting for VAT on goods imported from outside the UK which, since Brexit, includes the European Union. Businesses registered for VAT in the UK can account for import VAT on their VAT Return for goods imported into: Great Britain (England, Scotland and Wales) from anywhere outside the UK […]
Last month we mentioned that draft legislation has been published to change the basis periods for the assessment of self-employed profits to coincide with the tax year. The proposed new rules provide that from 2023/24 onwards profits or losses will be apportioned to tax years where the period of account does not coincide with the […]
The temporary 5% VAT rate that has applied to supplies made in the tourism and hospitality sector since the start of the pandemic comes to an end at the end of September. The rate then increases to 12.5% from 1 October until 31 March 2022 when it reverts to the standard rate. For those businesses […]
The Coronavirus Job Retention Scheme has been extended until 30 September 2021. For claims relating to August and September 2021, the government will pay 60% of wages up to a maximum cap of £1,875 for the hours the employee is on furlough. Claims for furlough days in August 2021 must be made by 14 September […]
Help to Grow: Digital is a new UK-wide scheme to help small and medium size businesses (SMEs) adopt digital technologies that are proven to increase their productivity. The scheme will offer SMEs free and impartial advice on how technology can help their business. An online platform will help them to: identify their digital technology needs assess technology […]
