HMRC News and Updates

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Updates on changes and new processes from HMRC

Should you pay or defer? What are the options for your upcoming tax bill?

The current pandemic has brought a variety of significant changes to our professional and personal lives, but some things remain constant, and unfortunately, taxes are one of those. Now more than ever, people are worried about their finances, and the strain taxes will have on them. To help businesses and [...]

By |2020-06-23T14:16:19+01:00June 23rd, 2020|HMRC News and Updates|

Update on Corona job retention scheme

Chancellor Extends Furlough Scheme Until October The government’s Coronavirus Job Retention Scheme will remain open until the end of October, The key points announced by Chancellor Rishi Sunak are: Coronavirus Job Retention Scheme will continue until end of October furloughed workers across UK will continue to receive 80% of their [...]

By |2020-05-20T13:14:08+01:00May 20th, 2020|HMRC News and Updates|

Claiming Research and Development Tax Credits as a loss-making company

A question we get asked a lot is; is it really worth the time and effort to make a Research and Development (R&D) tax credit claim if my company is making a loss? The simple answer is, yes, you can still get a high value R&D tax credit claim if [...]

By |2020-05-20T11:14:18+01:00May 20th, 2020|HMRC News and Updates|

Opening a Government Gateway Account

Self Employed Income Support (SEID) Under the Coronavirus Scheme. HMRC have issued some more details relating to the claims for the Self-Employed Income Support. The latest guidance was issued on 1 May. Details are in the link highlighted below. As with many HMRC “guidance notes” issued recently, these tend to [...]

By |2020-05-22T14:17:00+01:00May 14th, 2020|HMRC News and Updates, Covid 19|

Applying for R&D Tax Credits – everything you need to know

Research and Development Tax Credit rewards businesses who are coming up with innovative new solutions, products, services, and processes, and can help businesses save hundreds of thousands of pounds in R&D tax relief. The UK government offers tax relief on Research and Development projects to reward companies for innovation. Many [...]

By |2020-05-13T15:31:24+01:00May 13th, 2020|HMRC News and Updates, Tax Relief|

The impact of COVID-19 coronavirus on the VAT system

As the COVID-19 coronavirus pandemic rages on, understandably, there has been a lot of talk about finances, particularly for those who have been furloughed or who are self-employed. However, there have also been several important announcements for VAT-registered businesses and their advisers. VAT payment deferral On March 20th, it was [...]

By |2020-05-22T14:17:26+01:00April 15th, 2020|Uncategorised, HMRC News and Updates, Covid 19|

The essential changes you need to know about capital gains tax

2020 is seeing a change in how you report and pay capital gains tax to the HMRC. While current capital gains deadlines are declared before the end of one tax year and paid before the end of the following one, new processing times will see 30 days from completion to [...]

By |2020-03-05T16:51:46+00:00March 5th, 2020|HMRC News and Updates|

Is your Business ready for the new Anti-Money Laundering Rules?

New Anti-Money laundering rules have been put in place, are you adhering to them? Do you even know about them? The property and art industries are in for a significant change in the next few months. On January 10th, 2020, expanded regulations on money laundering and terrorist financing went into [...]

By |2020-01-23T11:35:10+00:00January 23rd, 2020|HMRC News and Updates|

The surprising truth about how Research and Development Tax Relief can improve business cashflow

Have you ever thought about how Research and Development Tax Relief can improve business cashflow? If there is one thing that a lot of businesses struggle with today, it is cashflow. This is especially the case for small businesses and start-ups. All it takes is one client to pay you [...]

By |2019-07-30T14:35:11+01:00July 30th, 2019|Financial Strategy, HMRC News and Updates|

The Tax Evasion Penalties All UK Businesses Should Know

Pay the Tax Man: The Tax Evasion Penalties All UK Businesses Should Know Over the last three financial years, UK tax evasion cases have been increasing with 2017/2018 recording 3,809 cases. The last fiscal year saw 40,695 people reporting tax evasion cases via the tax evasion hotline. Consequently, the government [...]

By |2019-06-13T15:31:56+01:00June 13th, 2019|HMRC News and Updates|