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Don’t miss 3rd self-employment grant deadline
Self-employed people affected by coronavirus have just one more week to claim the third government grant. Self-Employment Income Support Scheme (SEISS) claims need submitting to HMRC by next Friday (29 January) at the very latest. Those eligible for the third...
Paying company directors: what you need to know
Paying company directors isn't as straight forward as an employee. It is not as simple as getting a pay slip each month. So, how can you pay company directors? Salaries Paying company directors via salaries, expenses and benefits is the easiest. The company needs...
New Year, new changes for business owners
While we are glad to see the back of 2020, the new year will no doubt see changes that business owners must be aware of. It seems like there are daily updates about government rules during this year and we will always keep you up to date with what is changing. But as...
What business owners need to know before Christmas
As Christmas is near, there are a number of points to you need to be aware of. So before you break up, here are some issues you may be unaware of. Christmas and furlough HMRC is warning business owners that are normally less busy or closed for the holidays, they...
Changes that may affect you after Brexit transition
Remember Brexit? With coronavirus dominating headlines, it seems a distant memory. But the UK’s transition out of the EU ends on 31 December. That means the UK will no longer be a part of the European Union from 1 January. You will have no doubt seen the adverts about...
HMRC Time To Pay arrangements
If January’s tax return payment deadline is worrying you, it could be time to speak to HMRC about their Time To Pay arrangements. As you have heard many times this year, the current situation is unprecedented. Many business owners who normally manage payments easily,...
VAT reverse warning to construction firms
Contractors and subcontractors in the building and construction industry need to know about new VAT reverse changes. This starts next March but you need to be prepared before that. Failing to correctly implement the new regime could mean business owners facing...
Working from home tax relief tool launched
People working from home during the pandemic can claim tax relief by using a new online tool from the government. The online portal allows employees to claim expenses. Items you are allowed to claim for include expenses for working from home include: Repairing or...
Coronavirus business support schemes revised
As England enters a second lockdown, the government has announced changes to the coronavirus business support schemes. Coronavirus Job Retention Scheme One of the first coronavirus business support schemes introduced during the first lockdown is the Coronavirus Job...
Furlough scheme deadline for incorrect claims
Employers have just days to ensure that they correctly calculated their furlough scheme claims or face an investigation from HMRC. The deadline to correct mistakes is Tuesday, 20 October and failing to make checks could result in penalties. The tax authority claims...