Self Assessment Late Filing Penalties deferred

HMRC announced recently that it was deferring the imposition of late filing penalties for Self Assessment Tax Returns to the 28th February this year. Effectively, they have extended the filing deadline by a month, for the second year. They have also included late payment in this waiver, which means there will be no penalty if […]

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New VAT Penalty Regime delayed

As part of the Budget, it was announced that penalties would apply to the late submission of VAT Returns, from the 1st April 2022. This has now been delayed until 1st January 2023. Lucy Frazer, financial secretary to the Treasury, said this week: ‘HMRC is committed to becoming one of the most digitally advanced tax […]

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No Jab, no Sick Pay?

Ikea this week announced a significant change in their Sick Pay policy that may mean that unvaccinated staff who need to self isolate will no longer receive enhanced pay, and will instead receive Statutory Sick Pay. This decision has been made in response to staff shortages, but builds on the earlier ‘no jab, no job‘ […]

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Open banking – 90-day reauthorisation relaxed

Open Banking in the UK is overseen by the Financial Conduct Authority (FCA), which recently announced changes that will make lives much easier for small business owners! The background Open Banking was designed with the goal of making it easier for licensed companies to access customer bank data more easily, with their permission. It is […]

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New Coronavirus Business Support Grants

On Tuesday 21st December, the Government announced further funding for businesses in the hospitality and leisure sectors most affected by the Omicron variant. As we explained then, these grants are being distributed through loan authorities, who need to organise their own processes before they can distribute funds. The Christmas closures are likely to have delayed […]

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