VAT on imported goods with a value of up to £135 will be collected at the point of sale, not the point of importation from 1 January 2021. New guidance has been issued by HM Revenue & Customs (HMRC) which … Continue reading
Category Archives: Latest News
Coronavirus Business Interruption Loan Scheme expanded to more businesses
Following a change in EU state aid rules, the Government has announced that it will expand the Coronavirus Business Interruption Loan Scheme (CBILS) to certain businesses classed as “undertakings in difficulty” – those with large losses and debts. The UK … Continue reading
Tax changes outlined in draft Finance Bill 2020 – 2021
The Government has unveiled its draft legislation for the 2020 – 2021 Finance Bill (the Bill). The new proposals cover a number of measures that were previously announced in the 2020 Spring Budget. To help you gain a greater appreciation … Continue reading
Other news: HM Revenue & Customs issues ‘nudge’ letters to people suspected of having undeclared overseas assets
HM Revenue & Customs (HMRC) has written to people suspected of having undeclared overseas assets, asking them to declare any currently undeclared overseas assets and to complete a certificate declaring the correct tax position. The letters have been generated following … Continue reading
IMPORTANT Key Date
Second round of Self-Employment Income Support Scheme (SEISS) opens on Monday The second round of the Self-Employment Income Support Scheme (SEISS), which is worth 70 per cent of three months’ average trading profits, capped at £6,570, launches on Monday 17 … Continue reading
