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Category Archives: Blog
Penalty reform for VAT delayed until January 2023
The penalty reform for late payments has been delayed until 1 January 2023, confirms a statement by Lucy Frazer (The Financial Secretary to the Treasury).
Businesses that do not use MTD for VAT make more errors than those that do, study reveals
Small and medium-sized enterprises (SMEs) that do not use Making Tax Digital (MTD) for VAT make more errors than those that do, a major study has revealed.
HMRC’s guidance on reasonable excuses for late tax payments updated
It should perhaps be no surprise given the circumstances of the pandemic that individuals and businesses might have incurred penalties for late tax payments.
More investors are choosing sustainability-focused firms
Annual investment in companies with goals to tackle climate change has quadrupled since 2018.
Late filing penalties waived for one month to give taxpayers more time to prepare 2020/21 tax return
Late filing and late payment penalties will be waived for one month to give taxpayers more time to prepare their 2020 to 2021 Self Assessment tax return, it has been announced.
Will the UK Government offer support for rising fuel bills?
To tackle the cost-of-living squeeze, which could see households losing £1,200 a year, the Government have discussed the idea of offering targeted financial support for fuel bills, like that of the Warm Homes Discount.
Did you open presents or submit tax returns on Christmas?
According to HM Revenue & Customs (HMRC), over 31,000 Self Assessment tax returns were submitted between Christmas Eve and Boxing Day.
Crackdown on rogue directors who dissolve companies to avoid paying debts
The Government has launched a crackdown on bosses who dissolve their companies to avoid paying their liabilities, with rogue directors facing disqualification for up to 15 years or even prosecution.
Scottish Income Tax: What could change for 2022-23?
The Scottish Government has proposed new rates of income tax for 2022-23, which could affect your future tax bill.