by MAS | Sep 29, 2020 | Business advice, Coronavirus, Covid-19, Financial news, HMRC, Self Assessment
Self-assessment taxpayers – time to pay extension There is also a separate additional 12-month extension from HMRC on the “Time to Pay” self-service facility, meaning payments deferred from July 2020, and those due in January 2021, will now not need to be paid until...
by MAS | Sep 26, 2020 | Coronavirus, Covid-19, Financial news, HMRC, VAT
Vat cut for hospitality sector continues The reduction in VAT to 5% for the hospitality and tourism sector will be extended until 31 March 2021. Deferral of vat bills For those who deferred their VAT bills there is a New Payment Scheme, which offers the option to pay...
by MAS | Sep 25, 2020 | Coronavirus, Covid-19, Financial news, Self employed
The existing self-employed grant (SEISS) will also be extended on the same basis as the job support scheme. An initial taxable grant will be provided to those who are currently eligible and are continuing to actively trade but face reduced demand due to coronavirus....
by MAS | Sep 25, 2020 | Business advice, Coronavirus, Covid-19, Financial news, HMRC, NIC, PAYE
The Chancellor announced a new job scheme starting 1 November 2020 to replace the current job retention (“furlough”) scheme which ends 31 October 2020. All small and medium-sized businesses are eligible; larger businesses must show their turnover has fallen during the...
by MAS | Sep 24, 2020 | Brexit, Business advice, Financial news, HMRC, VAT
HMRC has written to VAT-registered businesses that trade with the EU outlining how they should prepare for Brexit trading changes set to take effect from 2021. The letters have been sent to VAT-registered businesses in Great Britain trading with the EU, or with the EU...
