COVID-19 support grants paid to companies must be included on company tax returns

Feb 07, 2022

HMRC has warned that businesses must declare any coronavirus (COVID-19) support grants or payments on their company tax returns and stated that the grants and payments are taxable.

The deadline…

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Government scheme gives discounts of up to £5,000 on accounting software

Feb 07, 2022

The government's Help to Grow: Digital scheme – designed to support smaller businesses in adopting digital technologies – is now open for applications.

Under the scheme, eligible businesses…

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Omicron Hospitality & Leisure Grant

Jan 13, 2022

A new Omicron hospitality & leisure grant has been launched to support coronavirus affected hospitality, leisure and accommodation businesses.

The scheme will provide eligible businesses with…

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Chancellor announces £1 billion fund for businesses

Jan 09, 2022

On 21 December 2021, Chancellor of the Exchequer, Rishi Sunak, unveiled a £1 billion COVID-19 fund, including cash grants of up to £6,000 per premises for each eligible firm.

Mr Sunak said the…

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Self assessment taxpayers must declare COVID grants on tax returns

Jan 09, 2022

HMRC has reminded self assessment taxpayers to declare any COVID-19 grant payments on their 2020/21 tax return.

According to HMRC, more than 2.7 million customers claimed at least one Self-employment…

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Scottish Budget 2022

Jan 09, 2022

Finance Secretary Kate Forbes delivered the 2022/23 Scottish Budget on 9 December 2021, setting out the Scottish Government's financial and tax plans.

The Budget outlined the government's spending…

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Welsh government delivers Budget

Jan 09, 2022

On 20 December 2021, the Welsh government outlined a Budget to 'build a stronger, fairer and greener Wales'.

The Welsh government unveiled a £116 million package of funding to aid with…

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HMRC waives self assessment penalties for one month to ease COVID-19 pressures

Jan 09, 2022

HMRC is waiving late filing and late payment penalties for self assessment taxpayers for one month.

The measure will give those taxpayers affected by the coronavirus (COVID-19) extra time, if…

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Over 440,000 small firms at risk due to late payment crisis

Jan 09, 2022

More than 440,000 small firms could be forced out of business by the late payment crisis, according to the Federation of Small Businesses (FSB).

An FSB study of more than 1,200 business owners…

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