83% of businesses unaware of Plastic Packaging Tax

Resource management firm Veolia has revealed that 83% of businesses are not aware of the Plastic Packaging Tax, which is due to take effect from April 2022. The Plastic Packaging Tax is a new tax that will apply to plastic packaging manufactured in or imported into...

read more

2022 to bring bigger tax bills for partners and sole traders

The Institute of Chartered Accountants in England and Wales (ICAEW) has predicted that following a government proposal to change the date certain businesses report their profits, sole traders and partners are likely to face bigger tax bills next year. The move would...

read more

2 million workers remain on furlough scheme

With the Coronavirus Job Retention Scheme (CJRS) set to end 30 September 2021, HMRC has published data showing that two million workers remain on furlough. The data showed that the number of employees on the CJRS fell by 590,000 during June. The total number of...

read more

HMRC guidance on fifth SEISS grant

HMRC have now published full details of the fifth Self-employment Income Support Scheme (SEISS) grant, including a new turnover test which determines the level of the grant. The key change from the previous SEISS grant is that the level of the grant depends on whether...

read more

Letter from HMRC: Income from letting property

Tax grab by HMRC on landlords!!! Billions of £'s spent by Government during Covid to be recovered!!! Penalties to rocket!!! Even genuine tax payers may be hit!!! Investigations may go back to year dot!!! IF YOU RECEIVE ONE OF THESE ENQUIRY LETTERS OR IF YOU ARE...

read more

Be aware of pension scams

According to the latest figures from Action Fraud, the average loss from pension scams has reached £50,949 this year. This figure is more than double the typical figure of £23,689 reported last year. Action Fraud claimed that losses in each case ranged from less than...

read more

New schemes for VAT on EU trade

Three schemes launched on 1 July will deal with VAT on business-to-consumer supplies of goods and services to EU customers. They are known as the 'Union', 'non-Union' and 'import' schemes. The schemes are designed to facilitate the collection of VAT by one EU member...

read more

G7 announces global tax agreement

The G7's finance ministers have announced a historic international agreement on global tax reform. Finance ministers have held years of discussions and have now agreed to reforms, which they say will see multinationals pay their fair share of tax in the countries in...

read more