05-Mar-2021
Moving towards a cashless society
The move to a cashless society has been intensified by the pandemic, with a quarter of Brits (26%) saying they would favour a cashless society. This ranks the UK 14th …
05-Mar-2021
Cyber thieves go in for ‘silent stealing’ during pandemic
The shift to working from home has seen a rise in cyber criminals targeting people’s personal bank accounts, sometimes conning them out of as little as £10 a time. This …
05-Mar-2021
Companies House resumes strike off services
Companies House has now resumed its strike off processes (from 8 March). It temporarily paused the service on 21 January 2021 so that companies and creditors would not be adversely affected by processing delays. It has now resumed the process to dissolve companies that have applied for voluntary strike off, and those Companies House believes are no longer carrying on business or are in operation.
26-Feb-2021
Who commits most fraud?
Large multinationals with aggressive growth cultures are more susceptible to ‘cooking the books’ than smaller struggling ones, according to a new study published in Justice Quarterly. Researchers from three US …
26-Feb-2021
Online VAT deferral scheme now open
Over half-a-million businesses that deferred VAT payments in 2020 can now join the new online VAT Deferral New payment Scheme to pay what they owe in monthly instalments, HMRC has …
26-Feb-2021
Instalment option for taxpayers who owe the taxman
Self Assessment taxpayers will not be charged a 5% late payment penalty if they pay their tax or set up a payment plan by 1 April. Usually, a 5% late …
26-Feb-2021
New advisory fuel rates for company cars
HMRC has published the latest advisory fuel rates for company car users, effective from 1 March 2021. The previous rates, effective December 2020, can be used for up to one …
26-Feb-2021
Changes to the National Minimum Wage
From 1 April 2021, the National Minimum Wage is increasing, and the age from which workers become eligible for the higher National Living Wage will be lowered. This means that …
24-Feb-2021
HMRC updates – revised self-assessment time lines and support available
The government have announced England’s route out of the pandemic, as long as the role out of the vaccination program continues. However, the pandemic continues to impact our way of …
17-Feb-2021
Pension age set to rise
A glitch in HMRC’s CJRS calculator means employers may need to recalculate furlough claims made for January 2021. HMRC discovered a mistake in its CJRS calculator just days before the …
17-Feb-2021
HMRC admits error with furlough calculator
A glitch in HMRC’s CJRS calculator means employers may need to recalculate furlough claims made for January 2021. HMRC discovered a mistake in its CJRS calculator just days before the …
17-Feb-2021
Scotland extends business rates holiday
Scottish finance secretary Kate Forbes has announced the extension of the country’s business rates holiday for another year. She said that the tax relief will apply to businesses in retail, …
17-Feb-2021
£20m SME Brexit Support Fund launched
SMEs who trade only with the EU and so are new to the importing and exporting regime will be able to apply for grants of up to £2,000 to pay …
17-Feb-2021
Apprenticeships on hold
Some two-thirds of UK companies have not invested in new apprentices over the past 12 months, according to the latest survey from In-Comm, a training and apprenticeship provider. It discovered …
12-Feb-2021
Pay VAT deferred due to coronavirus
The government has updated its advice for those businesses that deferred VAT payments due between 20 March and 30 June 2020 and still have payments to make. They can: pay …
12-Feb-2021
Government sets up ‘Pay as You Grow’ flexible loan repayment
Businesses that took out government-backed Bounce Back Loans to get through Covid-19 will now have greater flexibility to repay their loans. The Treasury’s Pay as You Grow repayment flexibilities enable …
12-Feb-2021
80% of small business owners ‘experiencing poor mental health’
Four in five small business owners report experiencing symptoms of poor mental health at least a few times a year, according to a new study by Mental Health UK and …
12-Feb-2021
Back to Basics videos: the trial balance
PQ magazine – the UK’s leading publication for accountancy and bookkeeping trainees – has joined forces with Training Link’s Michele Butler to help students get to grips with the trial …
05-Feb-2021
Learn more about the Covid sick pay scheme
HMRC is running monthly webinars on the Coronavirus (Covid-19) Statutory Sick Pay Rebate Scheme. The webinars cover the latest information on: who can claim. who you can claim for. how …
05-Feb-2021
Scottish government leaves income tax unchanged
Income tax rates and bands will be unaltered for the coming year, said the Scottish government today. Meanwhile, the thresholds for all but the top rate will rise in line …