Borrowers of Bounce Back loans given six more months for repayments

Mar 08, 2021

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…

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Domestic VAT reverse charge comes into effect on 1 March

Mar 08, 2021

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

The change was originally scheduled to come into effect from 1 October…

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HMRC clarifies off-payroll rules

Mar 08, 2021

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…

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Budget 2021

Mar 04, 2021

Introduction

The Chancellor Rishi Sunak presented his second Budget on Wednesday 3 March 2021. In his speech he stated his Budget 'meets the moment with a three-part plan to protect the jobs…

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Supreme Court backs small firms on business interruption claims

Feb 04, 2021

The UK's Supreme Court has found in favour of small firms receiving payments from COVID-19 business interruption insurance policies.

The test case was brought against insurers by the Financial…

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Government urged by CBI to act on COVID business support ahead of Budget

Feb 04, 2021

The Confederation of British Industry (CBI) has urged the government to provide more financial assistance to businesses affected by the coronavirus (COVID-19) pandemic ahead of the Budget on 3 March…

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LITRG calls for a rise in the High Income Child Benefit Charge threshold

Feb 04, 2021

The Low Incomes Tax Reform Group (LITRG) has urged the government to raise the High Income Child Benefit Charge (HICBC) threshold to avoid it affecting basic-rate taxpayers for the first time in April…

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Bonus of £1,000 to help businesses take on trainees

Feb 04, 2021

The government has announced that employers can now apply for a £1,000 bonus, a cash boost, to help them take on new trainees.

The new scheme will support young people to gain the skills and…

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Scottish Land and Buildings Transaction Tax

Feb 04, 2021

As part of the Scottish Budget, Finance Secretary Kate Forbes also announced changes to Land and Buildings Transaction Tax (LBTT) which apply from 1 April 2021.

The Scottish Government's stated…

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