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Government tackles late payment to small firms
18/01/2021 - More...
The Government has announced an overhaul of the Prompt Payment Code (PPC). Under the new reforms, companies that have signed up to the PPC will be obliged to pay small businesses within 30 days - half the time outlined in the current Code. Despite almost 3,000 companies signing the Code, poor payment practices are still rife, with many

Rights to regenerate
17/01/2021 - More...
We will soon have the rights to turn derelict buildings into homes and community assets. In a recent press release the Ministry of Housing said: The public will be able to convert vacant plots of land and derelict buildings into new homes or community spaces, under plans announced 16 January 2021 by the Housing Secretary, Robert Jenrick

Rogue employers named and shamed for failing to pay minimum wage
13/01/2021 - More...
139 employers, including some of the UK’s biggest household names, have been named and shamed in a government press release for failing to pay £6.7 million to over 95,000 workers in breach of the national minimum wage (NMW) legislation. This is the first time in over two years that the government has named and shamed employers for

CJRS guidance on who can be furloughed
13/01/2021 - More...
HMRC’s guidance on which employees can be placed on furlough using the Coronavirus Job Retention Scheme has been updated. The scheme will continue until at least 30 April 2021. The updated guidance includes new information about employees who are unable to work because they have caring responsibilities resulting from coronavirus

VAT Reverse charge for construction sector
13/01/2021 - More...
A further reminder that new VAT rules for building contractors and sub-contractors will come into effect from 1 March 2021. The new rules were originally expected to commence from 1 October 2019, but an initial 12 month delay was announced. The start date was then delayed for a further 5 months until 1 March 2021 due to the impact of the

Have you paid your Data Protection Fee?
13/01/2021 - More...
The Information Commissioner's Office (ICO) is the independent regulatory office in charge of upholding information rights in the interest of the public. Under the Data Protection Act 2018, all organisations that process personal information must register with the ICO. By law, every organisation or sole trader who processes personal

Tax and duties for goods sent from abroad
13/01/2021 - More...
Following the end of the Brexit transition period new rules regarding tax and duty apply to goods sent to the UK from the EU. These changes are to ensure that goods from EU and non-EU countries are treated in the same way and that UK businesses are not disadvantaged by competition from VAT free imports. For goods sold directly to

New IPO search facility
13/01/2021 - More...
The Intellectual Property Office (IPO) is the official UK government body responsible for intellectual property (IP) rights including patents, designs, trademarks and copyright. The IPO has launched a new service that allows users to search for the goods and services they intend to use their trade mark on before they

IHT Main Residence Nil Rate Band
13/01/2021 - More...
The Inheritance Tax residence nil-rate band (RNRB) is a transferable allowance for married couples and civil partners (per person) when their main residence is passed down to a direct descendent such as children or grandchildren after their death. The RNRB came into effect on 6 April 2017 and was introduced in stages. The allowance

Tax on an inherited private pension
13/01/2021 - More...
Private pensions can be an efficient way to pass on wealth, but it is important to consider what, if any, tax will be payable on an inherited private pension. The person who died will usually have nominated the recipient by telling their pension provider that they should inherit any monies left in their pension pot. If the nominated

Testing for international arrivals
11/01/2021 - More...
Passengers arriving from all international destinations will be required to present a negative COVID-19 test result before departing for England to help protect against new strains of coronavirus circulating internationally. Transport Secretary Grant Shapps has announced that inbound passengers arriving by boat, plane or train will have

Apply for the new Global Health Insurance Card
11/01/2021 - More...
UK residents can now apply for the new UK Global Health Insurance Card (GHIC). Under Britain’s new agreement with the EU, UK residents’ rights to emergency and medically necessary healthcare will continue when travelling in the EU. This includes medically necessary treatment for a pre-existing or chronic condition. Current European

Did you file your tax return on Christmas Day?
06/01/2021 - More...
A new press release by HMRC has highlighted that 2,700 taxpayers took the time to file their tax return online on Christmas Day with a further 8,500 taxpayers completing their tax returns on Boxing Day. In total, 31,400 Self-Assessment returns were filed between 24 and 26 December. Although this was a Christmas like no other, the number

Looking for a customs agent?
06/01/2021 - More...
The Brexit transition period has come to an end and a new customs border has been created between the UK and EU. If you are moving goods to or from the UK then you need to ensure that you have all the correct procedures in place. One of the most important areas that businesses must consider is how to make customs declarations. Customs

Tax returns filing deadline at the end of this month
06/01/2021 - More...
The 31 January 2021 tax return filing deadline is not just the final date for submission of your Self-Assessment tax return but also an important date for payment of tax due to HMRC. This includes the payment of any balance of Self-Assessment liability for the 2019-20 plus the first payment on account due for the current 2020-21 tax year.

Time to pay arrangements
06/01/2021 - More...
One of the measures announced by HMRC at the start of the coronavirus pandemic was the introduction of emergency measures to help those affected by COVID-19 using the existing Time to Pay service. Businesses and self-employed people in financial distress, and with outstanding tax liabilities may be eligible to receive support with their

No VAT on women’s sanitary products
06/01/2021 - More...
The UK was unable to zero rate VAT on women’s sanitary products under EU rules and the items were subject to 5% VAT. Following the end of the transition period the UK is no longer bound by the EU VAT Directive which mandates a minimum 5% rate of VAT on all sanitary products. The VAT charge on sanitary products became widely known as the

Repaying furlough grants if overclaimed
06/01/2021 - More...
Any business that has overclaimed a Coronavirus Job Retention Scheme (CJRS) grant must pay back the overpayment to HMRC. The rules outlined below for paying HMRC back an overclaim also applies to businesses that would like to make a voluntary repayment because they do not want or need the CJRS grant. The CJRS is currently due to continue

Income Tax charge to recover CJRS overclaims
06/01/2021 - More...
Employers should notify HMRC if they have received a CJRS payment to which they are not entitled and pay back any amounts of CJRS grants claimed in error. By paying back any amounts they were not entitled to, employers can avoid any tax liability for overclaimed CJRS grants. Failure to do so within the stated notification period will be

Lock-down 3 – business considerations
04/01/2021 - More...
It’s official. We are in lock-down 3 in England, Scotland following suit and the other regions expected to enforce similar restrictions. It is evident that any freeing impact of the vaccine roll-outs will not have sufficient impact before February at the earliest, and more likely, later in the year. What now for businesses directly

Time to revisit solvency
04/01/2021 - More...
If you have managed to retain profits in your business this fat-on-the-bone will help to see you through loss making periods as we endeavour to emerge from COVID disruption, hopefully, later this year. How long these reserves may last depends on how effectively you manage the process. If you are impacted by COVID disruption, you will

£4.6 billion lockdown grants announced
04/01/2021 - More...
Following a rapid rise in COVID infections, from today 5th January 2021, England has been placed into a new lockdown. Following this the Chancellor has announced £4.6 billion of new lockdown grants to help support businesses forced to close. The lockdown in England is expected to last until March with a review not due to take place until

Help to Save bonuses
03/01/2021 - More...
The Help to Save scheme was launched by the government in September 2018 to help those on low incomes to boost their savings. Under the scheme, those eligible could save between £1 and £50 every calendar month and receive a 50% government bonus. The 50% bonus is payable at the end of the second and fourth years and is based on how much

Child Trust Fund court fees waived
03/01/2021 - More...
Children born after 31 August 2002 and before 3 January 2011 were entitled to a Child Trust Fund (CTF) account provided they met the necessary conditions. These funds were long term saving accounts for newly born children. The first of these children who qualified began turning 18 years of age from 1 September 2020. For most young

Latest News

Government tackles late payment to small firms
18/01/2021 - More...
The Government has announced an overhaul...

Rights to regenerate
17/01/2021 - More...
We will soon have the rights to turn...

Rogue employers named and shamed for failing to pay minimum wage
13/01/2021 - More...
139 employers, including some of the...