The deadline to pay deferred VAT or arrange a payment plan is “fast approaching”, the Institute of Chartered Accountants in England and Wales (ICAEW) has warned. Read More
Month: May 2021
Register for Making Tax Digital for VAT or risk penalties, HMRC warns
Businesses who are required to use Making Tax Digital (MTD) for VAT but not registered could face fines of up to £400, it has been warned.
Bounce Back Loan Scheme fraud rising
The Bounce Back Loan Scheme (BBLs) which has been described as a ‘giant bonfire’ of taxpayers’ money by a senior banker, has seen fraud investigations rise by more than 50 per cent in some areas.
Finding the right finance for your business
In an ideal world, the costs of doing business can be covered by the proceeds of work already undertaken or goods already sold. Read More
Cash basis versus accruals basis
If you manage a business and record its expenses and revenue, you need to find a recording system that suits you. While cash basis accounting has its benefits, accrual accounting can be a more powerful tool for operating your business. So what is the difference? Read More
SEISS grant – what does the term “adversely affected” mean?
To apply for grant funding through the latest round of the Self-Employed Income Support Scheme (SEISS), self-employed workers need to consider and be able to demonstrate that their income has been ‘adversely affected’ by the Covid-19 pandemic as part of the claims process. Read More
UK to roll out independent tariff suspension scheme
Tariffs on some imported goods will be partially or wholly suspended to help UK firms become “more globally competitive”, it has been revealed. Read More
Claim up to 50 per cent off business software under new Help to Grow scheme
Small and medium-sized firms could get a discount of up to 50 per cent on the costs of business software under the new Help to Grow scheme, it has been revealed.
Six out of 10 firms to employ more staff
Sixty per cent of small businesses (SMEs) are planning to recruit more staff over the coming months as we emerge from lockdown.
Five reasons to set up a Personal Tax Account
Taxpayers are being urged to set up personal accounts to monitor their affairs. Read More