As of 1st January 2022 full customs controls came into effect. These are between the EU (except Ireland) and Great Britain. HMRC are reminding customers that the custom arrangements in place throughout 2021 for goods moving from Ireland and Northern Ireland to Great Britain have been extended whilst discussions carry on. If you move goods … Read more
HMRC have updated the rules on VAT reclaims for charging electric vehicles, however how employees can make claims for domestic charging is still under review. VAT incurred by businesses when charging electric vehicles can be recovered on the business use of those vehicles, where the vehicles are charged at work or at public charging premises. … Read more
HMRC has waived late filing and late payment penalties for self assessment taxpayers by one month, effectively delaying the tax return deadline to 28 February HMRC has announced that it will not give out financial penalties for late filing and late payments for self assessment tax returns which will give more time for taxpayers to … Read more
The government has announced additional Omicron support to help businesses most affected by the new variant of Coronavirus. Businesses in the hospitality and leisure sectors in England will be eligible for one-off grants of up to £6.000 per premises. With more than £100 million discretionary funding being made available for local authorities to support other … Read more
Customers who received COVID-19 grant payments during the 2020 to 2021 tax year should declare them in their tax return. More than 2.7 million claimed at least one Self-Employment Income Support Scheme (SEISS) payment up to 5 April 2021. These grants are taxable and should be declared on the 2020 to 2021 tax return before … Read more
Companies House updates penalty guidance due to covid delays and workload. Due to longer response times to appeals, Companies House has updated the penalty guidance to add reassurance that they will suspend all recovery action until an appeal has been considered. Those appealing will receive a full reply in due course and do not need … Read more
The Government has announced the proposed statutory rates for 2022, this covers statutory sick pay, statutory maternity, paternity, adoption, parental bereavement and shared parental payments from April 2022. The rate for 2022/23 for statutory maternity (SMP), paternity (SPP), adoption (SAP), parental bereavement (SPBP) and shared parental pay (SShPP) is set to increase from £151.97 to … Read more
HMRC is reminding traders to prepare for new customs controls that come into effect on 1 January 2022 which will increase checks and customs declarations Under the new rules, businesses will no longer be able to delay making import customs declarations under the Staged Customs Controls rules that have applied during 2021. Most customers will … Read more
During December HMRC will trial reducing the hours on some HMRC phone lines. This is so they can catch up with the build up of work accumulated over the past year. The VAT and Corporation tax phone lines will close on the 3rd, 10th and 17th December 2021. The bereavement line will be open as … Read more
The deadline for paying self assessment tax liabilities are usually: 31st January – for any tax you owe for the previous year (known as a balancing payment) and first payment on account 31st July – for the second payment on account Make sure HMRC are paid before the deadline as there may be interest and … Read more
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