by Gary Woosey | Feb 24, 2021 | Covid-19, Tax
HM Revenue & Customs (HMRC) has announced that its online VAT Deferral New Payment Scheme is now open for applications to help businesses arrange smaller monthly repayments of deferred VAT. Under the New Payment Scheme, you can repay VAT deferred between 20 March...
by Gary Woosey | Feb 11, 2021 | Tax
Any business that deferred VAT payments due between 20 March and 30 June 2020 as a result of the Coronavirus pandemic, must now consider how they will repay this outstanding tax. They can choose from the following options in order to do this: Pay the deferred VAT in...
by Gary Woosey | Feb 8, 2021 | Covid-19, Tax
The UK Treasury is considering online sales tax for retailers such as Amazon, Asos and Ocado, after a drastic increase in online shopping and the current “uneven system”, has caused many in-store retailers to be at a disadvantage. Supermarkets, including Asda,...
by Gary Woosey | Jan 25, 2021 | Tax
Due to the new trade rules that came into effect on 1 January 2021, many UK businesses, who export to the EU, have been hit by extra charges, taxes and paperwork. Some have stopped exports to the EU as a result. One business forced to stop its exports altogether is an...
by Gary Woosey | Jan 13, 2021 | Tax
HM Revenue & Customs (HMRC) is set to waive fines for taxpayers who file their tax returns late, providing that they can prove that the delay was because of COVID-19. HMRC confirmed the news in a statement, with the 31 January filing deadline looming. The decision...
by Gary Woosey | Nov 25, 2020 | Tax
HM Revenue & Customs (HMRC) is reminding self-assessment taxpayers of key Capital Gains Tax (CGT) changes that they need to be aware of before 31 January 2021. Since April 2020 there have important been changes to how CGT is declared and paid. UK residents that...
