HMRC is reminding taxpayers to check that they have the correct information in order to complete their paper self assessment tax returns by the month end deadline. The deadline for 2020/21 paper tax returns is 31 October 2021 for those completed on paper forms and 31 January 2022 for online returns. While the end of…
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1 October Corporation tax payment for companies with 31 December 2020 year end (where payments not required by quarterly instalments) 5 October Notify chargeability for income tax/capital gains tax for 2020/21 if not registered for self-assessment 14 October Corporation tax second quarterly instalment payment for accounting periods ending 31 December…
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The Treasury announced yesterday that it was to support hundreds of thousands of people as part of a £500m expansion to the government’s Plan for Jobs scheme As part of his speech at the Conservative party conference in Manchester, Rishi Sunak ramped up his message that he is ‘ready to double-down’ on his promise to…
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The government plans to strengthen employment rights for employees from their first day in a new job and unpaid leave for working carers. The move to a more flexible, hybrid working environment has been fast-tracked following lockdown rules requiring people to work from home. The new rules, if approved, will come into force from April…
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As the furlough scheme, temporary reduced VAT rates, and paused winding up scheme all come to an end, nearly seven in 10 employers expect to make redundancies within the next year. According to a study from Renovo, 69% of employers anticipate job losses, with 46% of organisations expecting to make redundancies within six months, while…
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HMRC is ramping up action against tax defaulters while the end of the winding up ban at the end of September will be a shock for some businesses protected by pandemic measures. As lockdown measures have relaxed, HMRC has restarted debt collection activities with taxpayers. It will initially focus on activities relating to collecting debts…
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The government should stop increasing taxes on businesses and jobs, as it risks derailing the economy’s recovery from the pandemic says the Confederation of British Industry (CBI). In a speech today at the Alliance Manchester Business School, Tony Danker, director general of the CBI, called on the government to rethink the tax burden it…
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UK businesses and consumers have paid 42% more in customs duties on goods since Brexit came into force on 1 January 2021, says UHY Hacker Young The jump to £2.2bn in customs duties from January to July 2021 is a new record and is up from £1.6bn in the same period last year. These increased…
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Temporary measures brought in to support businesses from insolvency during the pandemic will be phased out from 1 October Companies in financial distress as a result of the pandemic have been protected from creditor action since June last year, through the Corporate Insolvency and Governance Act 2020. This was to ensure that viable businesses affected…
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The number of people on furlough has fallen to the lowest level since the start of the pandemic as the UK economy continues to recover and businesses reopen A total of 1.6 million people were on furlough as of 31 July, down from almost two million on 30 June, while around 800,000 people have claimed…
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