News

Temporary Annual Investment Allowance extended to January 2022
The temporary £1 million increase to the Annual Investment Allowance (AIA) has now been extended until 1 January 2022 to help businesses invest, the Government has announced.
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Daily penalties waived for Self-Assessment late filing
HM Revenue & Customs (HMRC) has confirmed that it will not charge the usual daily penalties for late filing of 2018-19 Self-Assessment tax returns, which were due
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Homebuyers need to start purchases this month to take advantage of Stamp Duty savings
Thousands of people across the UK have purchased new homes to take advantage of the Government’s Stamp Duty Land Tax (SDLT) holiday, but Legal & General Mortgage
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HMRC warns taxpayers still aren’t ready for Making Tax Digital
The Director of Making Tax Digital (MTD) at HM Revenue & Customs (HMRC) has warned that “not all taxpayers are ready for a digitalised tax system.” Roy Wallace spoke
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A quarter of businesses don’t think they will be ready for post-Brexit Britain
A survey of almost a thousand company directors by the Institute of Directors (IoD) has found that nearly a quarter of businesses are not prepared for Brexit
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HMRC called on to simplify the administration of tax reliefs
The Office of Tax Simplification (OTS) is calling on HM Revenue & Customs (HMRC) to simplify the process of applying for tax reliefs so that fewer taxpayers
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More than 50,000 people claim working from home tax relief through HM Revenue & Customs online portal
HM Revenue & Customs (HMRC) has received more than 50,000 claims for tax relief for working from home since opening a new online portal on 1 October.
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IFS predicts tax rises of more than £40 billion a year by the middle of the decade
The Institute for Fiscal Studies (IFS) has predicted that taxes will need to rise by more than £40 billion a year by the middle of the decade
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Businesses may be entitled to insurance pay-out after important judgment
A new judgment at the High Court has clarified that policyholders denied business interruption (BI) insurance claims due to COVID-19 may be due compensation. In an important
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Latest SEISS grants introduce new qualifying conditions
As part of the Government’s plan to extend the Self-Employment Income Support Scheme (SEISS) for a further six months, HM Revenue & Customs (HMRC) has announced new
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New Coronavirus regulations place self-isolation obligations on employers
The Health Protection (Coronavirus, Restrictions) (Self-Isolation) Regulations 2020 came into effect on 28 September 2020 and place new obligations on employers in relation to self-isolation. Regulation 7
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Price of plastic bags in England to double to 10p
The price of plastic bags in larger retailers in England will double from 5p to 10p from April next year. The 5p charge was first introduced in
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