Business owners can now apply for ongoing access to financial support as they recover and grow following the coronavirus pandemic. The scheme can be used for any legitimate business purpose, including managing cashflow, investment and growth. It is designed to appeal to businesses that can afford to take out additional debt finance for these purposes. The Scheme is scheduled to run...

HMRC announced this week (on Friday 19th February 2021) that Self Assessment customers will not be charged the initial 5% late payment penalty if you pay your tax or make a Time to Pay arrangement by 1‌‌ April 2021.   So What Exactly Has Changed? The deadlines to file your tax returns have not changed, but a concession has been introduced to extend by one month the ti...

HMRC have announced the launch date for their new VAT deferral payment scheme. We detail below how to make use of the scheme and the other options that you currently have to settle the liability.   What Are My Options? If you deferred VAT between 20 March and 30 June 2020 and still have payments to make, you can: pay the deferred VAT payment in full on or before 31 Mar...

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...