Our Blog

Catch up with our latest news & events

 
More Details on New Company Loss Carry Back Rules
12 Jul 2021

More Details on New Company Loss Carry Back Rules

HMRC have updated their guidance on claiming relief for company trading losses to take account of the extended carry back announced in the Spring Budget and now legislated in the Finance Act 2021.

The guidance sets out the details required by HMRC where a company is making a claim for loss relief in advance of submitting its CT600 corporation tax return, where the loss is no more than £200,000.

Off-Payroll Working - Will HMRC Accept CEST Result?
19 Jul 2021

Off-Payroll Working - Will HMRC Accept CEST Result?

Since 6 April 2021 large and medium-sized organisations, based on the Companies Act criteria, have had to determine whether or not a worker supplying his services via their own personal service company would be treated as an employee if directly engaged. This replaced the IR35 rules for these larger organisations.

VAT Postponement
19 Jul 2021

VAT Postponement

Businesses are still able to use postponed VAT accounting (PVA) to account for import VAT on their VAT returns.

Accounting for import VAT on your VAT Return means you will declare and recover import VAT on the same VAT Return, rather than having to pay it upfront and recover it later.

Summer Staff: National Minimum Wage Rate Reminder for Employers
19 Jul 2021

Summer Staff: National Minimum Wage Rate Reminder for Employers

All workers are legally entitled to be paid the National Minimum Wage (NMW). This includes temporary seasonal staff, who often work short-term contracts in bars, hotels, shops and warehouses over the summer.

HMRC Expenses and Benefits Webinars for Employers
05 Jul 2021

HMRC Expenses and Benefits Webinars for Employers

With working from home, the office or factory or a hybrid of places to work for many employees this means that where they work from has changed because of the Pandemic. Wherever your employees are based, find out more about paying expenses including mobile phones, internet and workplaces.

HMRC Guidance on Re-Importing & Re-Exporting
05 Jul 2021

HMRC Guidance on Re-Importing & Re-Exporting

HMRC have released guidance about some of the approvals and special procedures that help simplify customs processing and reduce VAT and Customs Duty owed. These are useful if you are a business that usually re-imports or re-exports as part of your business process.

Apply for a Grant to Help Small and Medium-sized Businesses New to Importing or Exporting
28 Jun 2021

Apply for a Grant to Help Small and Medium-sized Businesses New to Importing or Exporting

The SME Brexit Support Fund could give you up to £2,000 to help with training or professional advice if your business has up to 500 employees and no more than £100 million annual turnover.

Moving Goods Between the UK and EU
28 Jun 2021

Moving Goods Between the UK and EU

If you move goods between the UK and countries in the EU, you need to follow new customs and tax rules.

Three Year Carry Back of Company Losses
28 Jun 2021

Three Year Carry Back of Company Losses

An extended loss carry back was announced at Budget 2021 which enables companies (and individuals) to make claims to carry back losses for a further 2 years than previous rules allowed. This temporary extension applies for losses arising in company accounting periods ending between 1 April 2020 and 31 March 2022.

HMRC Warn Employers Not to Use Unfunded Pension Arrangements
21 Jun 2021

HMRC Warn Employers Not to Use Unfunded Pension Arrangements

HMRC are currently attacking a marketed tax avoidance scheme using unfunded pension arrangements to avoid Corporation Tax, Income Tax and National Insurance contributions.

HMRC strongly believes these arrangements do not work and will seek to challenge anyone promoting or using these arrangements and make sure the correct tax is paid.

Pension Contributions are Tax Efficient for Employee and Employer
21 Jun 2021

Pension Contributions are Tax Efficient for Employee and Employer

Pension contributions to approved pension funds on behalf of employees and directors continue to be a tax-free benefit provided the annual input limit is not breached. The contributions are also deductible for the employer provided incurred wholly and exclusively for the purposes of the trade and paid before the end of the accounting period of the business.

VAT Deferral Reminder - Join Online by 21st June 2021
14 Jun 2021

VAT Deferral Reminder - Join Online by 21st June 2021

The VAT deferral new payment scheme is open for all businesses who deferred paying VAT due between 20th March and 30th June 2020 and were unable to pay in full by 31st March 2021.

21st June is the last day you can join this scheme. If you join by this date you can apply to spread these payments across up to eight instalments.

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