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150,000 businesses owe HMRC £2.7 billion in deferred VAT payments

150,000 businesses owe HMRC £2.7 billion in deferred VAT payments

by Gary Woosey | Jul 29, 2021 | Tax

HM Revenue and Customs (HMRC) reported that 150,000 UK businesses have not yet made arrangements to pay back deferred VAT payments, and therefore owe the department £2.7 billion.  As of 30 June 2021, nine per cent of the total VAT deferred by businesses during the...
Guidance for the fifth round of the Self-Employment Income Support Scheme (SEISS) published

Guidance for the fifth round of the Self-Employment Income Support Scheme (SEISS) published

by Gary Woosey | Jul 19, 2021 | Covid-19

HM Revenue & Customs (HMRC) has published detailed guidance for the fifth round of the Self-Employment Income Support Scheme (SEISS), which will open for claims in the coming weeks. Instead of announcing a specific date on which the new round of the scheme will go...
Corporate Insolvency and Governance Act 2020 – the changes in 2021

Corporate Insolvency and Governance Act 2020 – the changes in 2021

by Gary Woosey | Jul 12, 2021 | Uncategorized

Some temporary relief measures introduced under the Corporate Insolvency and Governance Act 2020 (CIGA) are extending, the Government announced on 16 June 2021. CIGA was introduced in June 2020 to support companies facing the threat of insolvency during the height of...
Corporate Insolvency and Governance Act 2020 – the changes in 2021

Electric car registrations surpassed 10 per cent mark in UK

by Gary Woosey | Jul 6, 2021 | Tax

According to new data, 10.7 per cent of car registrations in June were completely battery electric vehicles. In the same month, the Tesla Model 3 (a zero-emission car) was the largest seller in the UK, making it the first time electric car sales went past the 10 per...
Federation of Small Businesses calls for more help for SMEs as financial support winds down

Federation of Small Businesses calls for more help for SMEs as financial support winds down

by Gary Woosey | Jun 28, 2021 | Covid-19

The Federation of Small Businesses (FSB) calls on the Government to offer more economic support to small and medium enterprises (SMEs) as coronavirus-related limits continue and fewer financial packages are being handed out. For example, the Government delayed the...
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