A paper outlining the changes to the late payment penalty regime for taxpayers has been published by HMRC. It is the governments’ intention to reform sanctions for late submission and late payments to make them ‘fairer and more consistent across taxes’. Initially, the changes will be applied to VAT and income tax self-assessment (ITSA). The …
HMRC Late Payment Penalty Regime Changes Outlined Read More »
Recently published data from HMRC shows that almost two million workers remain on furlough, ahead of the Coronavirus Job Retention Scheme (CJRS) being wound down over the summer. The data showed that the number of employees on the Coronavirus Job Retention Scheme (CJRS) fell by 590,000 during June, with the total number of furloughed workers …
The findings of a survey carried out by the Association of Chartered Certified Accountants (ACCA) and the Corporate Finance Network (CFN) has shown that small and medium-sized enterprises (SMEs) are looking to invest in growth but are frustrated by the lack of financial options open to them. 89% of small and medium-sized enterprise (SME) owners …
Survey Shows SMEs ‘Keen To Invest In Growth But Struggle To Find Financial Backing’. Read More »
The government has announced forthcoming changes to be introduced to the tax system that will make it easier for small businesses to fill out their returns. When they come into force by 2023, the changes will mean businesses will be taxed on profits arising in a tax year, rather than profits of accounts ending in …
The government has been called on to provide small and medium-sized enterprises (SMEs) with better access to business support and advice, in a new report by the Federation of Small Businesses (FSB). Unless more is done to bolster the availability of business support for smaller firms, the government’s leveling-up agenda will ‘fall short of improving …
Government Urged By FSB To Improve Access To Support And Advice For SMEs Read More »
A consultation on how basis periods can be reformed for income tax for the self-employed has been launched recently, by HMRC. The objective of the consultation is to gather views and opinions on how best to implement a proposal to simplify the rules under which profits of an unincorporated trading business are allocated to tax …
Basis Period Reform Proposal Consultation Launched Read More »
