Virtual Christmas parties will qualify for tax exemption

HMRC has confirmed that they will accept a virtual Christmas party as an event which is capable of falling within the tax exemption rules for annual functions.

The Association of Taxation…

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Self-Employment Income Support Scheme

HMRC is advising the self employed that the Self-Employment Income Support Scheme (SEISS) has been extended. Taxpayers who were not eligible for the first and second grant will not be eligible for…

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Online service opens for VAT deferral scheme

HMRC has announced that businesses that deferred VAT payments last year can now join the new online VAT Deferral New Payment Scheme to pay it in smaller monthly instalments.

To take advantage…

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ICAEW urges HMRC to rethink quarterly reports under MTD for corporation tax

The Institute of Chartered Accountants in England and Wales (ICAEW) has urged HMRC to rethink the requirement for companies to report quarterly under Making Tax Digital for corporation tax (MTD for…

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HMRC sets out penalty regime for SEISS abuse

The fourth Self-Employed Income Support Scheme (SEISS) grant is now live and HMRC has set out the penalties for abuse of the scheme.

An overclaimed SEISS grant includes any amount of grant…

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Government confirms start date for Plastic Packaging Tax

The UK government has confirmed that its plastic packaging tax (PPT) will come into force on 1 April 2022.

The PPT will be charged at a rate of £200 per metric ton of chargeable plastic packaging…

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ICAEW urges HMRC to scrap exemptions to simplify VAT rules

In response to HMRC's consultation on simplifying the rules relating to land and property, the Institute of Chartered Accountants in England and Wales (ICAEW) has urged HMRC to abolish all VAT exemptions…

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Employers 'named and shamed' for paying less than minimum wage

The government has 'named and shamed' 191 companies that have broken National Minimum Wage (NMW) laws.

Following investigations by HMRC, the named firms have been fined for owing £2.1 million…

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£800 million Reinsurance Scheme opens for live events

The government has opened a £800 million Reinsurance Scheme to cover live events against cancellations stemming from the COVID-19 pandemic.

The live events sector is worth more than £70 billion…

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