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Below you'll find a list of all posts that have been categorized as “English”
The UK has released its response to the new Extended Producer Responsibility (EPR) legislation. Find out what this means and how it will affect your business. In November 2021, following the COP26 Climate Conference held in Glasgow, the UK Government announced, ‘The Environment Act’, which set out to improve air …
Who would have thought that we would already be talking about Easter? This year, Easter falls over the first weekend in April and there are a number of key dates which are public holidays in the United Kingdom. These are as follows: Friday 2nd April 2021 – Good Friday Sunday …
The Confederation of British Industry (CBI) has urged the government to overhaul its policy on environmental taxes to help the UK get back on track to reach net-zero. In a new report, the CBI stated that the scale of climate challenge and the delivery of the government’s plans for a …
The Organisation for Economic Co-operation and Development (OECD) has upgraded its forecasts for global and British economic growth this year and next. The OECD said the world economy is likely to expand by 5.6% in 2021. The growth figure for the UK is 5.1%, followed by growth of 4.7% next …
The Institute of Chartered Accountants in England and Wales (ICAEW) has urged HMRC to rethink the requirement for companies to report quarterly under Making Tax Digital for corporation tax (MTD for CT). In response to HMRC’s consultation on expanding the MTD initiative to corporation tax, the ICAEW suggested that HMRC …
Research carried out by the Association of Independent Professionals and the Self-Employed (IPSE) has found that female freelancers have faced a ‘disproportionate financial struggle’ during the coronavirus (COVID-19) pandemic. IPSE said that one of the key issues facing female freelancers is late payment. 49% of freelancers reported that they experienced …
HMRC has published details of the eligibility criteria for the fourth grant under the coronavirus (COVID-19) Self-employment Income Support Scheme (SEISS), which will cover the period February 2021 to April 2021. At the 2021 Budget it was confirmed that the fourth SEISS grant will be set at 80% of three …
Chancellor Rishi Sunak used the 2021 Budget to announce an investment of more than £100 million into a HMRC taskforce designed to combat coronavirus (COVID-19)-related fraud. The new Taxpayer Protection Taskforce will seek to crack down on criminals who attempt to fraudulently claim money via government COVID-19 financial support schemes. …
Chancellor Rishi Sunak delivered his 2021 Budget speech yesterday, outlining a range of financial measures and key changes designed to boost the UK economy once the current coronavirus (COVID-19) lockdown ends in England and support businesses. Mr Sunak unveiled a raft of changes for UK businesses, including a new loan …
Within his Budget speech, Chancellor Rishi Sunak unveiled billions in financial support for businesses and families adversely affected by the coronavirus (COVID-19) pandemic. The Chancellor confirmed the extension of a number of COVID-19 support schemes, including the Coronavirus Job Retention Scheme (CJRS), which will now run until September, and the …
Addressing the House of Commons, Chancellor Rishi Sunak used the 2021 Budget to ‘do whatever it takes’ to financially support people and business as the UK recovers from the coronavirus (COVID-19) pandemic. However, Labour Party leader Keir Starmer stated that the Chancellor delivered a Budget that merely ‘papered over the …
Business groups have responded to Chancellor Rishi Sunak’s 2021 Budget speech. The Confederation of British Industry (CBI) stated that the Budget ‘succeeds strongly in protecting the economy now and kickstarting recovery’ from the coronavirus (COVID-19) pandemic. Tony Danker, Director General of the CBI, said: ‘The Chancellor has gone above and …
Chancellor Rishi Sunak will deliver the 2021 Budget speech today at 12:30pm. We will keep you up to date on the key Budget announcements and supply a full summary, which will appear on our website tomorrow morning. Speculation is rife that the Chancellor will announce additional support for UK workers …
The Treasury Committee has urged Chancellor Rishi Sunak to outline plans for a long-term tax strategy to help the UK economy recover from the coronavirus (COVID-19) pandemic. In a new report, the Committee stated that public finances are ‘on an unsustainable long-term trajectory’ as a result of projections of rising …
The government’s coronavirus (COVID-19) support schemes have now been used by almost 1.6 million UK businesses, according to the latest figures from HM Treasury. In total, the schemes have provided almost £73 billion in finance to those businesses. The vast majority has been lent through the Bounce Back Loan Scheme …
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. HMRC recently published guidance on the grants available to SMEs under the government’s SME Brexit Fund. As part of the scheme, businesses with up …
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. To take advantage of the new payment scheme businesses will need to have deferred VAT payments between March …
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. The payment deadline for self assessment is 31 January and interest is charged from 1 February on any amounts outstanding. Normally, …
When Chancellor Rishi Sunak gives his second Budget statement on 3rd March, he will have to perform a delicate balancing act. The Chancellor will be caught between supporting the businesses and individuals still affected by the coronavirus (COVID-19) pandemic, recouping the billions spent on support schemes over the past 11 …
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. The roadmap will see all pupils in England’s schools return to class from 8 March. Meanwhile, shops, hairdressers, gyms and outdoor hospitality, as well as self-contained …
The twice-delayed introduction of the domestic VAT reverse charge for construction services will come into effect on 1 March 2021. The change was originally scheduled to come into effect from 1 October 2019 but was deferred for 12 months after industry bodies highlighted concerns about the lack of preparation and …
A new service designed to resolve disputes between eligible small and medium-sized enterprises (SMEs) and participating banks has gone live. The Business Banking Resolution Service (BBRS) has been established following the Simon Walker Review on the small business complaints landscape. It will use alternative dispute resolution techniques to settle unresolved …
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. Reiterating its advice from last year, HMRC has confirmed that it will not issue penalties for inaccuracies in the first 12 months of …
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. The IFS expects the Budget to outline additional spending to support businesses and individuals affected by the pandemic. The business group …
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). Those employers account for a third of the UK’s business turnover and employ around …
The Institute of Chartered Accountants in England and Wales (ICAEW) has urged HMRC to confirm whether coronavirus (COVID-19) antigen tests paid for by employers will continue to be exempt from income tax and national insurance after 5 April 2021. Guidance published by HMRC states that employers and employees will not …
The UK economy shrank by almost a tenth in 2020 as the coronavirus (COVID-19) pandemic adversely affected businesses, according to the latest figures from the Office for National Statistics (ONS). The data shows that UK GDP declined by 9.9% last year, which is the largest contraction on record. The slump …
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. The IoD called for the creation of a stimulus package to ‘unleash investment in start-ups and scale-ups through targeted reliefs’, and …
Businesses that took out government-backed Bounce Back loans to get through the coronavirus (COVID-19) pandemic will now have greater flexibility to repay their loans, the government has announced. The Pay as You Grow repayment flexibilities now include the option to delay all repayments for a further six months. This means …
Data published by HMRC has revealed that its customer service levels have been adversely affected by the coronavirus (COVID-19) pandemic. HMRC stated that this is a unique financial year as the department continues to operate ‘at the heart of the government’s COVID-19 response’. According to HMRC, the pandemic has ‘reinforced …
