Category: Accounts services

Self-employed profits must be “significantly reduced” to claim third SEISS grant, says HMRC


Self-employed workers’ profits must be “significantly reduced” in order to claim the third instalment of the Self-Employment Income Support Scheme (SEISS), it has been revealed.

HMRC’s amended guidance on late furlough claims


On 19 November 2020, the Government amended its guidance to give examples of what is meant by a ‘reasonable excuse’, for submitting furlough claims past the deadline.

Businesses urged to file annual accounts early and “go paperless” to avoid Covid-19 disruption


Companies House has urged businesses to file their annual accounts earlier than usual to avoid “last-minute” disruption caused by the coronavirus.

Accountants warn that “sudden and dramatic” changes to Capital Gains Tax could distort taxpayers’ behaviour and affect the housing market


St Albans-based accountancy firm, WMT Chartered Accountants, has warned that changes to Capital Gains Tax (CGT) recommended to Chancellor, Rishi Sunak, by the Office for Tax Simplification (OTS) could distort taxpayers’ behaviour and affect the…

Temporary Annual Investment Allowance extended to January 2022


The temporary Annual Investment Allowance (AIA) will be extended until 01 January 2022 to “stimulate investment in UK manufacturing”, it has been announced.

New Bounce Back Loans have banks preparing for a wave of applications


UK banks have been preparing themselves for the wave of small and medium-sized enterprises (SMEs) topping up with the Bounce Back Loan Scheme (BBLS) once the Chancellor reopens the coronavirus-related scheme on 9 November.

COVID-19: Business loans to reach five times more than last year


Due to the ongoing coronavirus crisis, there are estimates that the amount of net borrowing from UK organisations will surpass five times the number in 2019, as businesses struggle to survive the second wave.

Self Assessment: HMRC recommends completing online returns ahead of the deadline


Self Assessment individuals have 97 days left to complete their tax returns online before the deadline, but HM Revenue & Customs (HMRC) recommends completing it as early as possible.

Making Tax Digital for VAT – update October 2020


HMRC has set out a roadmap for Making Tax Digital (MTD) as some of the deadlines were put back due to Covid–19. Since the 2019 Phase 1 MTD for VAT came into force, businesses above…