How to defer payment of the March, May & June 2020 VAT returns

How to defer payment of the March, May & June 2020 VAT returns

If you deferred VAT between 20 March and 30 June 2020 and still have payments to make, you can: pay the deferred VAT in full on or before 31 March 2021 opt in to the VAT deferral new payment scheme when it launches in 2021 contact HMRC if you need more help to pay...
No Fine If Covid Makes You Miss Your Tax Return Deadline

No Fine If Covid Makes You Miss Your Tax Return Deadline

You will no longer be fined for filing your tax return late if your business has been affected by coronavirus. These new rules will benefit millions of workers and will alleviate some pressure off many individuals. Those affected businesses that will not be able to...
The Tampon Tax Has Been Abolished Within The UK

The Tampon Tax Has Been Abolished Within The UK

After a lot of dispute over recent years, the ‘tampon tax’ has been abolished. As a result, a zero rate of VAT now applies to women’s sanitary products as of 1 January 2021. This comes as part of the governments action to end Period Poverty which includes the roll out...
HMRC reject calls to relax tax return deadline

HMRC reject calls to relax tax return deadline

HMRC has rejected calls from professional bodies to relax the self assessment filing deadline. Penalty notices will be issued as usual to all who file late but more time will be allowed to appeal. The Institute of Accountants in England and Wales (ICAEW) have reported...