Employers to chip in furlough From July employers will have to chip in 10% of staff wages to anyone on furlough as the government reduces its level of support for the Coronavirus Job Retention Scheme The furlough scheme was put in place in March 2020 to support employers unable to operate as normal due…
Tax filing deadline & key dates – June 2021 Find below our at-a-glance guide to key filing and payments deadlines for VAT, Payroll, company tax and other taxes. 1 June Company tax payment deadline for companies whose last submitted tax return was for August 2020 Deadline for employers to give relevant employees a statement showing…
Advisory Fuel Rates (AFR) – June 2021 Table of Contents Overview of Advisory Fuel Rates (AFR) HMRC has published the latest advisory fuel rates (AFR) for company car users, effective from 1 June 2021, increasing mileage rates by 1p for all petrol vehicles. The advisory fuel rates that apply from 1 June 2021 have been…
Options for UK importers for dealing with post-Brexit Import VAT Table of Contents Overview 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. Apply for a grant to help small…
Options for UK importers for dealing with post-Brexit Import VAT Table of Contents Overview From 1 January 2021, trade between UK and European Community significantly changed. Currently the business who is UK VAT registered must account for import VAT for all imports from EU to the UK (except Northern Ireland). There are few ways to…
EU VAT changes for UK retail businesses Table of Contents Overview UK retail businesses selling into the EU need to make sure they are prepared to meet the new EU VAT regime starting on 1 July 2021. Any business selling goods to individual customers in the European Union (EU) will need to understand and apply…
Bounce back loan fraud investigations Fraud investigations into abuse of covid-19 bounce back loan (BBLs) by the City of London Police increased by more than 50% in February 2021 compared to the previous month shows research from Regulatory policy committee (RPC) The international law firm found that bounce back loan fraud investigations increased from 17 in…
Weekly update 23 May 21 Welcome to the latest edition of our weekly update. This week, we have rounded up a number of news stories across SME schemes, employer updates, Covid support grants and pensions. Furlough and TUPE claims from May 2021: If you are employer, you can claim under the normal Furlough rules for…
Last call to join VAT deferral new payment scheme Businesses that deferred VAT payments last year have one month left to join “VAT deferral new payment scheme” to pay in monthly instalments under the scheme, HMRC has confirmed. The online portal for the new payment scheme closes on 21 June 2021. The scheme is open…
Help to grow scheme Table of Contents Overview of Help to Grow scheme If you own a small business in the UK, you can now register interest in joining “Help to Grow scheme”, the government’s new scheme to help SMEs prosper post pandemic. Take your business to the next level with the government’s new Help…
5% deposit mortgage products launched Table of Contents A new government-backed mortgage scheme will help first time buyers or current homeowners secure a mortgage with just a 5% deposit For how long government provide guarantee for mortgage? The guarantee will be valid for up to seven years after the mortgage is originated, evidence shows that…
Penalty rate for Covid deferred VAT HMRC has confirmed that companies will be liable for a 5% penalty or interest if they do not pay in full or make an arrangement to pay deferred VAT by 30 June 2021 Deferred VAT scheme At the start of the covid pandemic, the government announced a three-month deferral…
