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

Desi KolevaAvailable Support & Benefits, Individuals on Mixed Income, News, Self Employed & Freelancers18 Comments

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

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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

Breaking News – VAT Alert

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The current government position is that the UK will leave the European Union on 31st January 2020. This will have an impact on EU VAT refund claims (formerly known as 8th Directive Claims). The latest guidance published on the HMRC Website 18th September 2019 advises that it will not be possible to use HMRC’s VAT online services to claim a … Read More