HMRC has confirmed that the 5th SEISS (Self Employment Income Support Scheme) grant will be available from the end of July. This will cover the period May to September. The grant is taxable and will be paid out in a single instalment. Guidance for claiming the grant will be available by the end of June … Read more
The Extended Loss Carry Back measure announced at Budget 2021 allows businesses to make claims to carry back losses for a further two years than current rules allow. This temporary extension applies for losses in accounting periods ending between 1 April 2020 and 31 March 2022. Claims over £200,000 must be made in a company tax … Read more
Tax debt collection as the UK emerges from Covid-19 Protecting livelihoods and keeping people in work remains the government’s priority. As it has been throughout the pandemic. HMRC has been central to delivering on this by pausing many debt collection activities and delivering support packages including Coronavirus Job Retention Scheme and Self Employment Income Support Scheme. … Read more
HMRC can help towards the cost of children’s childcare and summer holiday activities HMRC is reminding working families that they can use Tax-Free Childcare to help pay for their childcare costs over the summer. How can HMRC help Tax-Free Childcare – a childcare top-up for working parents – can be used to help pay for … Read more
Self-Employment Income Support Scheme – receiving grants you were not entitled to guidance. An overclaimed SEISS grant includes any amount of grant which: you were not entitled to receive was more than the amount HMRC said you were entitled to when you made your claim This includes where a tax return being amended on or … Read more
Businesses that deferred VAT payments last year have one month left to join online to pay monthly instalments under the VAT Deferral Payment Scheme. The online portal for the new payment scheme closes on 21 June 2021. Over half a million businesses deferred £34 billion in VAT payments due between March and June 2020 under … Read more
More than 63,500 customers filed their 2020 to 2021 self assessment online on 6 April 2021. And with almost 950,000 online Self Assessment returns received so far this tax year, HMRC is urging others to do the same and file their tax returns early. Each year, thousands of people choose to file early, as soon as one … Read more
Could the SME Brexit Support Fund help your business? If your business moves goods between the UK and EU then the new customs and tax rules apply if: goods are bought from an EU seller and brought into the UK if sold goods are sent to a buyer in and EU country no money has … Read more
HMRC will be sending out 2.5 million tax credits renewals packs from this week. Tax credits customers should check the details and report any change in circumstances to HMRC. The packs will be sent out within the next 6 weeks and all should of received them by 4th June 2021. HMRC recognises that many tax … Read more
The online service for applications for the 4th self employment income support scheme (SEISS) claims is now open. All applications must be submitted by the individual self employed worker and cannot be handled by accountants or tax advisers. It is expected that up to 600,000 self employed individuals will be able to apply for the … Read more
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