Living or working overseas and the State Pension

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If you’re planning to live abroad when you retire, you’ll still be able to claim your State Pension if you’ve paid enough National Insurance contributions to qualify. Working abroad If you live or work in another country, you might be able to contribute towards that country’s State Pension scheme. If you’ve lived or worked in another country in the past, … Read More

Second Tax Fraud Conviction for Bricklayer

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  Undoubtedly will be hearing news from HMRC about more and more investigations and fraud convictions. HMRC is on the hunt for the small fraudsters with more than 30,000 new inspectors employed to check up the individual self assessment tax returns submitted. A bricklayer is ordered a £500 fine and to pay £2,978 in compensation to HMRC after being found to … Read More

HMRC announces Self Assessment penalty waivers

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  Today HMRC has announced that will not charge: 1. Late filing penalties for those who file online by 28‌‌ ‌February 2022. 2. Late payment penalties for those who pay the tax due in full or set up a payment plan by 1‌‌ ‌April 2022. This will give customers and their representatives additional time if they need it and will operate in the same … Read More

Cash Grants for Hospitality and Leisure Businesses

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The Chancellor, Rishi Sunak, announced yesterday that there will be a £1bn funding package for hospitality and leisure businesses in the wake of rising COVID cases threatening to damage the already fragile sector. Hospitality businesses, such as pubs, cafes and restaurants, will be able to apply for cash grants of up to £6,000. The government have yet to release the … Read More

Plan B: How will business be affected?

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  On Thursday 9th Decembet 2021, the Government have set new measures due to incresing numbers of people suffering with COVID – 19. The announcement forms part of Government’s COVID – 19 Autumn and Winter plan. The measures were drawn up way before the Omicron variant and will only apply to England. Plan B will affect your business with four … Read More

Autumn Budget 2021 and your small business. Highlights.

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Autumn Budget 2021 what does it means for the small business Here is a resume of the key announcements in the Autumn Budget 2021 made by Chancellor Rishi Sunak in the House of Commons, and what impact this will have on the small business: Business rates cut by 50% for retail, leisure and hospitality for one year Chancellor Rishi Sunak … Read More

The 5th SEISS Grant – All You Need to Know

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The fifth SEISS (Self-Employed Income Support Scheme) grant application has been announced by the government. Eligible participants will be contacted through text, email, letter or through SEISS government portal informing when and how to apply. This is to be the final support self-employed grant to be made available to the public to help through the loss of profits caused by … Read More

HMRC will go after company directors for furlough fraud

Desi KolevaAvailable Support & Benefits, Business Support & Advice, Companies (Ltd, LLP, Charity, Etc), News, Self Employed & Freelancers

HM Revenue & Customs has published a draft legislation where it warned it will impose a penalty on directors and sole traders who deliberately flout the rules of the government’s coronavirus furlough scheme. HMRC will recover the payments with penalties where recipients were not entitled and payment is not used to pay employees under:  the Self-Employment Income Support Scheme (SEISS); the … Read More