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Over 500,000 businesses filed VAT returns late

A total of 519,120 VAT returns were filed late by businesses last year, up 13% from 459,190 the previous year, leaving many SMEs exposed to interest and penalties on their…
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5 Common Tax Deductions that Small Business Owners Often Overlook

They say that only two things are certain in life: death and taxes. Paying tax is inevitable but there are things you can do to reduce the percentage of your…
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More money for businesses than you know

Even with a little glowing light at the end this unimaginably long tunnel, it does feel like for 2021, things just managed to get worse. But we’re not here to…
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COVID Losses Cash Back Bonus – up to triple the benefits!

Due to the impact of COVID-19, the government want to give businesses who have suddenly suffered significant losses, an opportunity to get some additional cash back into their struggling business.…
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A simple guide to employee expenses

A Simple Guide to Employee Expenses Employee expenses can be easy for staff to write off as simply saving the receipt for something they had to pay for, and claiming…
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Capital allowances super deduction

HM Treasury (HMT) has published a factsheet covering the new super-deduction announced in the 2021 Budget, which will allow companies to cut their tax bill by up to 25p for…
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Budget 2021: corporation tax to increase to 25%

Budget 2021: corporation tax to increase to 25% In April 2023, the rate of corporation tax will increase to 25%, a 6% increase from the current 19% while at the…
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HMRC remind taxpayers to file returns to avoid penalty

HMRC have issued a reminder that Self Assessment (SA) taxpayers who have not yet filed their 2019/20 tax return should do so by 28 February 2021 to prevent a £100…
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VAT deferral payment scheme online service opens

Over half a million businesses who deferred VAT payments last year can now join the new online VAT Deferral New Payment Scheme to pay in smaller monthly instalments, HMRC has…
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HMRC temporarily waives late payment penalties

The payment deadline for self assessment is 31 January and interest is charged from 1 February on any amounts outstanding. Normally, a 5% late payment penalty is also charged on…
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