Temporary VAT Reduction

A reduction in the rate of VAT to 5% has been offered to the hospitality, holiday accommodation, and attraction sectors of the economy from 15th July to 12th January 2021. Specific types of businesses covered by the reduction include restaurants, …
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Eat out to Help Out

HMRC are inviting businesses in the hospitality sector to register for the scheme. The scheme will allow customers eating out in cafes, restaurants or hotels who have registered to receive a 50% discount up to £10 per person during the …
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HMRC Increase penalties for late returns

HMRC have updated their guidance on penalties for failure to file annual and occasional returns and documents on time. This applies to Income Tax, Capital Gains Tax, The Registered Pension Scheme, Bank Payroll Tax, Annual Tax on Enveloped Dwellings and …
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HMRC Umbrella Companies Non-Compliant Warning

HMRC have issued some guidance recently advising of the risk of using Non-compliant umbrella companies. Some umbrella companies offer higher take home pay often referred to as Enhanced or Advanced umbrella services. Frequently these are tax avoidance schemes, it is …
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IR35 Changes from 6th April 2020

The new regulations coming into force from 6th April aim to make a level playing field between those who are directly employed or via a Personal Service Company (PSC) so that income tax and NIC payments are the same and …
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Penalties for late corporation tax returns

HMRC have confirmed how penalties for late returns are applied when the date for the Corporation Tax Return is earlier than the date which the Accounts must be delivered to Companies House. If the Corporation Tax Return is delivered late …
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Selling your let residential property

If you are selling a residential property that you have let out since 5th April 2020 the rules about reporting and paying Capital Gains Tax (CGT) are different.  You will no longer be able to report the CGT in your …
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