Recent case re late filing appeal

The First-tier Tribunal (FTT) has dismissed a taxpayer’s appeal for having a reasonable excuse. The taxpayer applied out of time ...
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Accounting and Reporting standards from 1 January 2021

The Department for Business, Energy and Industrial Strategy (BEIS) and the Financial Reporting Council (FRC) have jointly published a letter ...
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Treasury directive re third SEISS grant

HM Treasury has published a further Treasury Direction made under the Coronavirus Act 2020, ss. 71 and 76, which modifies ...
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New advisory fuel rates published

Advisory fuel rates are intended to reflect actual average fuel costs and are updated quarterly. The rates can be used ...
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Deadlines for paying deferred VAT

The coronavirus VAT payment holiday gave businesses the chance to defer the payment of any VAT liabilities between 20 March ...
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EU exit – did you read this letter?

The Secretary of State for Business, Energy and Industrial Strategy, Alok Sharma has written a letter to businesses in the ...
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Confirmation of Minimum Wage increases 2021

The Chancellor used the recent Spending Review to confirm that increased National Minimum Wage and National Living Wage rates will ...
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Pay January tax by instalments

The deadline for submitting your 2019-20 Self-Assessment tax returns online is 31 January 2021. You should also be aware that ...
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HMRC’s Annual Tax Summary

The Annual Tax Summary is a document provided by HMRC that provides details on the tax you pay and how ...
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Coping with the new EU reality

It is apparent that our final exit from the EU, 1 January 2021, will disrupt the movement of goods, back ...
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Supply chains, a predictive approach for 2021

One of the more positive aspects – perhaps the only positive aspect - of COVID disruption has been the movement ...
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Spending Review 2021/22

The Chancellor, Rishi Sunak delivered the government's spending plans for the coming year to Parliament on 25 November 2020. The ...
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Deciding length of CJRS claim period

The Coronavirus Job Retention Scheme (CJRS) commonly known as the furlough scheme was due to come to an end on ...
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Proposed changes to CIS abuse rules

The Construction Industry Scheme (CIS) is a set of special rules for tax and National Insurance for those working in ...
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MTD for Corporation Tax consultation

HMRC has issued a new consultation to examine how the principles established for Making Tax Digital (MTD) could be implemented ...
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Register for Northern Ireland Trader Support Service

The Northern Ireland Trader Support Service was launched on 28 September 2020 to support businesses moving goods under the Northern ...
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Beware tax deadline scammers

Fraudsters are continuing to target taxpayers with scam emails in advance of the 31 January deadline for submission of Self-Assessment ...
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Reasonable excuses for making a late furlough claim

HMRC’s guidance on making claims through the Coronavirus Job Retention Scheme was updated on 19 November 2020. The updated guidance ...
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Tax Diary December 2020/January 2021

1 December 2020 - Due date for Corporation Tax payable for the year ended 28 February 2020. 19 December 2020 ...
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Why compound interest is important

Many of us are building a pension fund, a portfolio of shares or deposits with our bank or building society ...
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Scottish Budget 2021

Scotland’s Finance Secretary, Kate Forbes, has announced that the Scottish Government’s Budget will be published for 2021-22 on 28 January ...
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HM Treasury instructions re CJRS

An updated Treasury Direction under sections 71 and 76 of the Coronavirus Act 2020 concerning the extended Coronavirus Job Retention ...
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Businesses within the scope of VAT in the UK

The VAT system is policed by HMRC who can and do levy penalties for breaches of the legislation. There are ...
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Benefit conditions – Trivial benefits

The trivial benefits in kind (BiK) exemption applies to small non-cash benefits like a bottle of wine or a bouquet ...
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