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Auto-correct activated From 19 June 2021 HMRC has been automatically correcting 2020/21 tax returns where the total amount of SEISS grants reported doesn’t match their records. It will then take them a while to process all... read more

A new Recovery Loan Scheme was launched 6 April 2021, to provide much needed liquidity to businesses affected by COVID lockdown measures. Under the scheme, loans of up to £10m are available. The minimum facility... read more

HMRC have announced a temporary extension of loss relief carry-back for both companies, sole traders and partnerships, as many businesses across the UK are likely to make losses in the 2020-21 tax year due to... read more

More has been disclosed or leaked, of the 2021 Budget announcements than in previous years. But we now have the details and there is a lot to consider. The following 2021 Budget summary is split... read more

The Treasury has advised banks that provide Bounce Back Loans to offer a more flexible approach regarding repayments, called Pay as You Grow,  which is good news for small businesses. Pay As You Grow (PAYG) The new... read more

If you cannot pay your tax bill then you can set up a tax payment plan with HMRC if you owe Self Assessment tax. If your bill is less than £30,000 you may be able to... read more

HMRC have finally published guidance on paying the deferred VAT and will be opening the new payment scheme on 23rd of February. Would it help to pay in instalments? If you join by the 23rd... read more