Month: May 2021

VAT Deferral Scheme Deadline Looming…

We’ve talked before about the COVID VAT Deferral Payment Scheme, which enables businesses to spread the payments of VAT that were deferred from the first quarter of 2020. We’ve also looked at the penalties that may apply if they are not paid in time. The purpose of this post is a simple one, to remind […]

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Almost 1 Million 2020/21 Self Assessment Returns already filed!

HMRC revealed last week that 950,000 2020/21 Self Assessment Tax Returns have already been submitted since the 5th April. Just over 63,500 people filed their Returns on the first day of the tax year! In the last five tax years, the number of customers choosing to file on the first day of the new tax […]

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Improved Xero security now available

Any business can be stopped in its tracks if someone gains access to your account through hacking, phishing or other cyber attacks. The good news is that many data breaches can be prevented with simple actions, such as using multi-factor authentication (MFA). This year, all Xero users will need to set up and use MFA […]

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Capital Gains Tax reforms proposed…

Changes were made to the Capital Gains Tax regime recently, that were described as ‘seismic’. The Office for Tax Simplification (OTS) has now called for an overhaul of the Capital Gains Tax (CGT) rules, for a range of reasons. A recent report by the OTS notes their concern that many people who pay CGT do […]

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New ‘Breathing Space’ Debt Scheme Launched

The Government has launched a new scheme to help people struggling with problem debt. Up to 700,000 people are expected to benefit from the ‘Breathing Space’ scheme. What does the Breathing Space Scheme provide? The scheme will give those facing financial difficulties 60 days to get finances back on track – without debts piling up, […]

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Step 3 today!

Monday 17th May has been circled on many people’s calendars since the announcement of the Government’s Roadmap to Normality earlier in the year. There are a large number of changes in Coronavirus restrictions that take effect today. These include: Indoor hospitality can reopen, without the need for food to be purchased or a curfew. This must […]

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