Author Archives: Pauline

Free Post-Brexit VAT changes to imports and exports Webinar

https://pages.croneri.co.uk/WEB-2021-01-19-CRiTAX00014_1.Registration The post-Brexit transition period has finally ended. But for many British business leaders, the new EU trading rules are still unclear… For example, how should you report the movement of goods? When do you need to pay import VAT and customs duty? And do Northern Irish companies face different rules to the rest of the UK?

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Businesses in the retail, hospitality and leisure sectors are to receive a one-off grant worth up to £9,000

Source – Accountancy Today Businesses in the retail, hospitality and leisure sectors are to receive a one-off grant worth up to £9,000, the chancellor has announced. The news comes after the prime minister’s announcement that businesses will be closed until at least February half-term in order to help control the spread of Covid-19. Alongside the grant

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Self-assessment season

The tax return filing deadline for 2019/20 returns remains at 31 January 2021, and penalties for late returns will be issued automatically as usual. However, HMRC will allow taxpayers and tax agents up to 90 days to appeal against those late filing penalties, instead of the standard 30 days. This is thin gruel as the tax tribunals

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Furlough scheme extended by one month to April 2021

The furlough scheme will last for another month and hard-pressed businesses will also be able to access state-backed loans until March, the Treasury has announced. Source – © Provided by The Independent The Coronavirus Jobs Retention Scheme, under which the state picks up 80 per cent of the furloughed worker’s wages, had been due to end at

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Paying your Tax Bill

Please remember if you deferred your July payment on account, this will be added to your 31st January payment.  If you are in a situation where you are unable to pay your tax bill, please contact HMRC to set up a payment plan. If you have a payment on account due for next year – it

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HMRC penalty payments increase by 62%

Source – Accounting web HMRC penalties for taxpayers’ compliance failings are on the rise once more, following a sharp drop at the start of lockdown. The firm says HMRC collected £34m in September, an increase of 62% from a low of £21m collected in May HMRC suspended tax investigations at the start of the pandemic

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International trade: Brexit Update (Video)

Source – Tax Calc Troubled by the prospect of Brexit and how it will impact your business? Watch leading customs expert, Sandra Strong, explain how you can meet the new regulations on importing and exporting goods from 2021 Watch complimentary video here: https://bit.ly/3grUiDV

New SEISS conditions may trip up taxpayers

The SEISS claims portal reopens on Monday 30 November, but taxpayers must declare their trade has been impacted by reduced demand before they claim the third grant. 27th Nov 2020  Source – accounting web When claiming the first two self-employed income support (SEISS) grants taxpayers had to confirm that their trade had been adversely affected by the

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HMRC confirms virtual Christmas party exemption

Source – Accounting Webb 2020 is a year when an employer’s ability to say thank you to their employees has never been more important. But the Covid-19 lockdown restrictions have put a stop to the annual office party and have forced employers to think of alternative ways to wish employees a happy Christmas and to

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Coronavirus: Self-Employment Income Support Scheme (SEISS)

Updated on 5 November 2020 The coronavirus (COVID-19) outbreak is having far-reaching financial impacts on individuals and businesses across the UK, and indeed across the world. The government is providing support for the self-employed in the UK under the Self-Employment Income Support Scheme.  What is the Self-Employment Income Support Scheme (SEISS) and can I use it?

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Contractor’s home to hotel travel disallowed

A Scottish contractor, who lodged in Swindon to be available for work in the south of England, had his travel and accommodation expenses disallowed as not wholly and exclusively incurred for his business. 23rd Nov 2020 Taylor claimed the expenses between his home in Melrose, Scotland and a hotel in Swindon in his 2016/17 tax return.

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VAT Deferral New Payment Scheme

Source – HMRC As part of the Winter Economy Plan, the Government announced that businesses who deferred VAT due from 20 March to 30 June 2020 will now have the option to pay in smaller payments over a longer period. Instead of paying the full amount by the end of March 2021, businesses can make

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The Self-Employment Income Support Scheme grant extension

The Self-Employment Income Support Scheme grant extension provides critical support to the self-employed in the form of 2 further grants, each available for 3 month periods covering November 2020 to January 2021 and February 2021 to April 2021. 1.    Who can claim   To be eligible for the grant extension self-employed individuals, including members of

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CJRS extension: Get the details right

Kate Upcraft explains what employers and tax agents need to know about the new version of the coronavirus job retention scheme (CJRS.3) which will apply from November 2020 to March 2021. 6th Nov 2020  Source – accountancy web Chancellor Rishi Sunak meets business leaders to discuss further financial support at a restaurant in central London.

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SEISS grant to be 80% of average profits

The self-employed income support scheme (SEISS) will be open for two further grants, the first of which will be set at 80% of average profits. This article has been amended with new information released on 5 November 2020. Source:  Accounting Webb 3rd Nov 2020 There have been two rounds of grant support for the self-employed

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Government increases support for self-employed across the UK

The government is increasing its support to the self-employed over the coming months and ensuring people get paid faster than previously planned, it was announced today, 2 November. Published 2 November 2020 From: HM Treasury government increases support under the third instalment of the UK-wide Self-Employment Income Support Scheme, with people receiving 80% of average

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