Relief at HMRC's reversal of helpline closures

HMRC's decision to halt its plans to restrict taxpayer helplines and direct people to online services instead has been met with relief by the Federation of Small Businesses (FSB).

The tax…

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MTD for Income Tax pilot now live

HMRC's pilot scheme for Making Tax Digital for Income Tax Self Assessment (MTD for ITSA) is now live.

Accountants, agents and individuals are able to sign up to the pilot and test the programme…

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UK economy grew by more than previously estimated during first quarter

The UK economy grew by more than initially estimated at the start of this year, according to figures from the Office for National Statistics (ONS).

The economy grew by 0.7% between January…

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King's Speech pledges to secure economic growth

The first King's Speech since Labour's victory in the General Election saw the new government pledge that securing economic growth would be its fundamental mission.

King Charles III delivered…

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Self assessment deadlines

Two self assessment deadlines are approaching:

  • 5th October 2020
    For those individuals who have not previously completed a tax return but need…

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New trade arrangements with the EU from 1 January 2021

HMRC has sent letters to VAT-registered businesses in Great Britain trading with the EU, or the EU and the rest of the world. They explain what businesses need to do to prepare for new processes for…

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Self assessment customers to benefit from enhanced payment plans

Self assessment taxpayers are now able to benefit from enhanced payment plans and can apply online for additional support to help spread their tax bill into monthly payments.

The online payment…

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£1 million Annual Investment Allowance cap extended

The Treasury has confirmed that the £1 million cap on the Annual Investment Allowance (AIA) is to be extended for an additional year as the government continues to look at ways to stimulate the economy.

The…

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Self-Employment Income Support Scheme

HMRC is advising the self employed that the Self-Employment Income Support Scheme (SEISS) has been extended. Taxpayers who were not eligible for the first and second grant will not be eligible for…

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