New independent group appointed to help tackle ‘greenwashing’ The UK’s net zero economy goal has been boosted with the appointment of a new expert group whose work will support investors, consumers and businesses to make green financial decisions. The Green Technical Advisory Group (GTAG) will oversee the government’s delivery of a “Green Taxonomy” – a […]
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Small businesses set agenda ahead of G7 conference Small business bodies representing firms from across G7 nations and the European Union are calling on conference leaders to put smaller enterprises “at the heart of economic recovery plans”. In a joint statement, the SME7 collective also urges leaders to “support small businesses on their journeys to reduce
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11-year ban for payroll boss in tax avoidance scheme Scott Ian Rooney, of Leicester, was appointed sole director of Magnetic Push Limited in February 2017 – a company providing payroll services – which sunk into liquidation after just 11 months. It was after Mr Rooney refused to co-operate that an investigation was triggered by the
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HMRC updates templates for CJRS claims If employers are claiming for between 16-99 employees they should use this template, if they are claiming for 100 or more employees they should use one of these templates. They need to enter all of the information in the right format before uploading the completed template, so their claim
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UK SMEs start to recover despite gloomier predictions New Barclaycard Payments data shows positive signs SMEs have started to recover from the unprecedented pandemic impacted year, but not without some road blocks. The second SME Barometer by the company found that’s despite earlier short-term performance predictions by UK businesses, and after a dip in sentiment
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Just one month till deadline to join VAT Deferral New Payment Scheme HM Revenue and Customs is calling on businesses to act now to join the VAT Deferral New Payment Scheme, with just one month to go before the online portal closes on 21 June 2021. It has already proved a popular resource for businesses
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HMRC explains new penalty regime and VAT deferral scheme deadline Santhie Goundar reports on the upcoming new penalty regime for VAT and income tax, and the closure of the VAT deferral New Payment Scheme next month. HMRC held sessions at the Accountex Virtual Summit on 12–13 May, explaining how its new penalty regime (coming into
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Takeaway boss handed 7-year ban for under-declaring sales A takeaway owner from Norwich was disqualified from running a business for seven years after suppressing sales figures to avoid paying tax. Huseyin Gozel (41), from Norwich, was appointed director of Mardin & Maras Limited in June 2014. The company had been incorporated two years earlier in
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Corporate tax overpayments: Do businesses have any leftovers? As if clients haven’t enough on their plates – the pandemic’s impact upon corporate profits may mean supporting them with overpayment claims. Andrew Goodall finds out how tax advisers can help. A key element of the government’s financial support for businesses dealing with the economic impact of
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Under one month until Self Assessment tax return deadline HM Revenue and Customs (HMRC) has announced there is less than a month to go until the deadline to file a tax return for customers deciding to submit through the Self Assessment path. HMRC said around 5.4 million Self Assessment customers are yet to complete their
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£4.6bn in business grants announced following latest lockdown The government has announced £4.6 billion worth of one-off top up grants for retail, hospitality and leisure businesses of up to £9,000 per property to help businesses through the latest lockdown. The announcement comes as Prime Minister Boris Johnson revealed last night that businesses will be closed
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HMRC answers pressing concerns as CJRS and SEISS deadlines loom HM Revenue & Customs has addressed some frequently asked concerns regarding the Coronavirus Job Retention Scheme and the Self-Employment Income Support Scheme ahead of the upcoming claims deadline. In a recent email notice, HMRC Chief Executive and First Permanent Secretary Jim Harra reminded accountants and
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Corporation Tax filing deadline The deadline for filing a corporation tax return is 12 months after the end of the accounting period it covers. Many companies have a 31 December accounting period end and 31 December 2020 is therefore the filing deadline for accounting periods ending on 31 December 2019. Companies should wherever possible file
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Annual Investment Allowance (AIA) The AIA was due to be reduced from the current limit of £1m to £200k, effective from 1 January 2021. However, the government announced last month that the current limit of £1m will remain until 1 January 2022. This is good news for businesses looking to spend monies on qualifying business
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Coronavirus Job Retention Scheme Claims under the Coronavirus Job Retention Scheme (CJRS) are currently open for pay periods in November and December 2020. You have until 11.59pm Monday 14 December to submit claims for November.
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Covid-19: Guidance on paying deferred VAT updated HMRC have updated their guidance on paying deferred VAT to reflect that businesses wishing to use the new payment scheme need to opt in by the end of March 2021. View the updated guidance at https://www.gov.uk/guidance/deferral-of-vat-payments-due-to-coronavirus-covid-19
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Covid-19: Christmas grant for ‘wet-led pubs’ The Government has announced that pubs in tiers 2 and 3, that predominantly serve alcohol rather than food, will receive a £1,000 Christmas period grant. The payment will be a one-off for December 2020 and will be paid on top on the existing £3,000 monthly cash grants for businesses.
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New website launch We are pleased to announce that our new website is now online. As much as we value speaking to our customers face to face and regularly, we hope that this provides a portal of information, on our services for new customers. In addition to our services, we will also be publishing a
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