Latest news
Latest news
Advisory fuel rates for company cars
New company car advisory fuel rates have been published which take effect from 1 March 2021. The rates have increased by 1p per mile for petrol and diesel cars with an engine size of 1400-2000cc to reflect a slight increase in fuel prices. HMRC reviews the advisory...
A New VAT Deferral Payment Scheme has just Opened
HMRC have confirmed that businesses that deferred VAT payments between March and June 2020 will be eligible to join the new scheme where they can pay the deferred VAT in smaller monthly instalments. This will now give businesses the option to pay their deferred VAT in...
Self-Assessment – More Time to Pay
HMRC has announced further help for Self-Assessment taxpayers, by extending the late payment penalty deadline until 1 April 2021. Under normal circumstances, a 5% penalty would be incurred on any tax payments which were due by 31 January 2021 and are still...
COVID-19 causes manufacturers to accelerate digital adoption
According to the 2021 Digital Transformation Assessment conducted by The Manufacturer and IBM, 67% of manufacturers have accelerated their adoption of digital technologies as a result of the coronavirus pandemic. Only 16% have suspended their digital adoption...
Charities and Fundraising During Lockdown
Recent research including nearly 250 charities conducted by Pro Bono Economics (PBE), the Charity Finance Group, and the Chartered Institute of Fundraising found that in the weeks leading up to Christmas charities lost out on more than £200m of fundraising income....
Calls for a rise in the High Income Child Benefit Charge threshold
The Low Incomes Tax Reform Group (LITRG) has urged the government to raise the High Income Child Benefit Charge (HICBC) threshold to avoid it affecting basic-rate taxpayers for the first time in April 2021. The £50,000 threshold for the HICBC has remained static...
Canny romantics: The tax benefits of marriage
Considering popping the question on Valentine’s Day? Here we look at some of the tax breaks married couples can benefit from and how it can pay to get hitched The Marriage Allowance The Marriage Allowance can enable eligible married couples and civil partners...
Dental practices are struggling to meet new government targets
In December 2020, the UK Government set targets for NHS dentists to achieve 45% of their pre-pandemic activity. The aim of this new target was to increase the amount of NHS appointments available for patients. However, these new targets have come under a lot of...
More time and greater flexibility to repay Bounce Back Loans
The Chancellor has announced a new ‘Pay as You Grow’ initiative to help the 1.4 million small businesses who took out government-backed Bounce Back Loans. Borrowers will have the option to: Extend the length of their loan from six to ten years. Make interest-only...