Month: July 2021

HMRC owed £2.7billion in deferred VAT

HMRC is still owed £2.7bn in deferred VAT payments from over 150,000 UK businesses who have not yet made arrangements to make the payment, originally due between March and June 2020. Information released by HMRC through a Freedom of Information request (FOI) found that as of 30th June 2021, 9% of the total VAT that […]

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Call waiting time for HMRC hits 17 minutes!

As many of our clients will agree, getting in touch with HMRC has become more difficult than ever in recent months. It’s not unusual for us to hear that they’ve held for well in excess of half an hour, and beyond an hour is not unheard of either! The latest performance figures confirm that call […]

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HMRC clarifies stance on pandemic affected tax debts

HMRC has confirmed that where tax payers are struggling after the pandemic, it will take an ‘understanding and supportive approach to dealing with those who have tax debts or are concerned about their ability to pay their tax’. HMRC stressed that it wants to work with taxpayers to find a way for them to pay […]

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Post ‘Freedom Day’ considerations…

After more than a year of lockdowns and restrictions of differing levels, we’re now moving into a period of comparative freedom. From Monday July 19th 2021, dubbed ‘Freedom Day’, the majority of restrictions are lifted. This doesn’t mean however, that there is no guidance for small businesses to follow! Maintaining Records to Support NHS Test […]

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Xero Yodlee feeds are changing…

Xero are moving to a new version of Yodlee to ensure that bank feeds continue to seamlessly import transactions into Xero. If you use a Yodlee feed, you’ll need to update it before the 27th July 2021, or your transactions will stop automatically loading. What do you need to do? Before you update to the […]

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HSBC Xero Bank Feeds are changing…

Xero have recently published the following guidance around HSBC Bank feeds, which we felt should be highlighted. We know that some of our clients use HSBC for their banking, but there may well be other users who will be unaware of the changes that are coming on the 30th July 2021. The Xero notification reads […]

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Visit our Rebound Resources page for free tools & guidance to help your business Rebound from the pandemic.