Business News

26 Feb 2021

SMEs needing advice on imports and exports can apply for grants, HMRC confirms

Small and medium-sized enterprises (SMEs) requiring advice on imports and exports will be able to apply for a grant of up to £2,000, HMRC has confirmed.

25 Feb 2021

Online service for VAT deferral scheme opens

Over half a million businesses that deferred VAT payments last year can now join the new online VAT Deferral New Payment Scheme to pay it in smaller monthly instalments, HMRC has announced.

24 Feb 2021

Late payment penalties for self assessment waived until 1 April

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, HMRC has announced.

23 Feb 2021

More support needed to help businesses once lockdown lifts

Business groups have called on the government to extend its coronavirus (COVID-19) support through to the end of the roadmap for lifting lockdown restrictions.

22 Feb 2021

Domestic VAT reverse charge comes into effect on 1 March

The twice-delayed introduction of the domestic VAT reverse charge for construction services will come into effect on 1 March 2021.

19 Feb 2021

SME service for bank complaints goes live

A new service designed to resolve disputes between eligible small and medium-sized enterprises (SMEs) and participating banks has gone live.

18 Feb 2021

HMRC clarifies off-payroll rules

HMRC has published a briefing on its approach to the changes to off-payroll working rules, commonly known as IR35, which will be introduced on 6 April 2021.

17 Feb 2021

IFS urges Chancellor to outline economic recovery plans in upcoming Budget

The Institute for Fiscal Studies (IFS) has urged Chancellor Rishi Sunak to use the upcoming Budget to set out plans for an economic recovery from the coronavirus (COVID-19) pandemic.

16 Feb 2021

Over half a million businesses could collapse without further support

Almost 600,000 UK employers are at risk of business collapse in the spring if there is no extension of government coronavirus (COVID-19) support, according to a new report by the Institute for Public Policy Research (IPPR).

15 Feb 2021

Clarity needed on taxation of COVID test costs, says ICAEW

The Institute of Chartered Accountants in England and Wales (ICAEW) has urged HMRC to confirm whether COVID-19 antigen tests paid for by employers will continue to be exempt from income tax and national insurance after 5 April 2021.

12 Feb 2021

UK economy shrank by record 10% in 2020

The UK economy shrank by almost a tenth in 2020 as the COVID-19 pandemic adversely affected businesses, according to the latest figures from the Office for National Statistics (ONS).

11 Feb 2021

IoD calls for government to put entrepreneurs at heart of economic recovery

In its 2021 Budget submission, the Institute of Directors (IoD) has urged the government to put entrepreneurs 'at the heart' of the economic recovery from the coronavirus (COVID-19) pandemic.

10 Feb 2021

Borrowers of Bounce Back loans given six more months for repayments

Businesses that took out government-backed Bounce Back loans to get through the COVID-19 pandemic will now have greater flexibility to repay their loans, the government has announced.

09 Feb 2021

HMRC's customer service levels impacted by COVID-19

Data published by HMRC has revealed that its customer service levels have been adversely affected by the COVID-19 pandemic.

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