25 Jan 2021

HMRC has announced today that there will be no penalties for filing the 2019-20 Self Assessment Tax Return late, so long as they are filed online by 28‌‌ ‌February.   You will still need to pay your Self Assessment tax bill by 31‌‌ ‌January 2021; if you fail to do so then Interest will be charged from 1‌‌ ‌February on any outstanding liabilities, and Other late payment...

24 Jan 2021

Claims for the third SEISS grant must be submitted by 29 January 2021.  The timing of the deadline for claims for the third Self Employment Income Support Scheme (SEISS) grant is perhaps unfortunate, clashing as it does with the self assessment filing deadline.  Some additional considerations were introduced for the third grant, please take a moment to consider them:   The ...

24 Jan 2021

As the deadline looms for VAT deferred between 20 March and 30 June 2020 to be paid, we detail below the options that you currently have to settle the liability. Essentially, you can pay now or get ready to opt in to the VAT deferral new payment scheme   What Are My Options? If you deferred VAT between 20 March and 30 June 2020 and still have payments to make, you can: ...

21 Dec 2020

Quite aside from how your Family Christmas plans have been affected by COVID-19 , the Chancellor has been busy trying to put stepping stones in place to support business contend with tough conditions for what seems likely to continue for some months to come   Coronavirus Job Retention Extended Again In a surprise move, the Chancellor has announced that the Coronavirus Job Retention ...

21 Dec 2020

As the year draws to a close, the Government has recently announced that it will extend some temporary provisions in the Corporate Insolvency and Governance Act, as well as reinstate one that had already lapsed. Extension of Temporary Suspension of Statutory Demands and Winding-Up Petitions The Government announced on 9 December that it will extend the temporary suspension of statu...

15 Dec 2020

Core Responsibilities Posting clients records on to accounting software (Sage, Xero & QuickBooks) Preparation of VAT returns and online filing with HMRC Building and maintaining client relationships Ensuring all work is completed timely and within budget Utilising Microsoft Office (notably Excel) to maximise accurate and timely output Meeting all deadlines with an...

30 Nov 2020

HMRC have announced changes to the customs grant scheme to allow more people to access the funding and help they need to ensure they are ready to trade with the EU after the transition period ends. For detailed information, please follow the following link: https://www.gov.uk/guidance/grants-for-businesses-that-complete-customs-declarations   Am I Eligible? Cust...

30 Nov 2020

– Third SEISS Grant introduces “significantly reduced profits” test…. The eligibility criteria for the third SEISS grant have been further tightened, as the guidance for the third Self-employment Income Support Scheme (SEISS) grant has been published, less than one week before the portal opens for claims from 30 November 2020. On the eve of clients preparing to make a claim, we loo...

25 Nov 2020

There is just over a month to go until the end of the transition period and there will be new rules to follow from 1 January 2021 onwards, As Business Secretary, I urge to avoid your business operations being interrupted when the transition period ends. You can find out what you need to do by going to gov.uk/action-2021. The top actions you can take now to prepare are: 1) Check ...

Barrons has put together a helpful guide to running your business during the coronavirus crisis.