hmrc Archives

Welcome to the September 2021 News Update from Prestige Business Management

Sep 30, 2021

Welcome to the September 2021 News Update from Prestige Business Management September 2021 News Update – featuring additional news developments from our newsletter series. Stay informed with the latest news in business support and financial affairs. Key Dates Coming Up Corporation Tax Payment – 1st October Due for businesses with 31 December 2020 year end. Additional Customs Requirements at UK Border – 1st October Mandatory...

How to Keep a Tax Record

Sep 29, 2021

Everyone can appreciate good record keeping. Especially your accountant, plus it could save you lots of time when you come to file your tax return and save you money on your tax bill if you keep a tax record in good order. Good record keeping is also helpful if HM Revenue and Customs (HMRC) wants to ask any questions. Here we outline what you need...

Welcome to the August 2021 News Update from Prestige Business Management

Aug 31, 2021

August 2021 Update – featuring additional news developments from our newsletter series. Stay informed with the latest news in business support and financial affairs. Key Dates Coming Up Claim CJRS for August – 14th September Deadline to claim CJRS for August 2021 claims Corporation Tax Payment – 14th September Corporation tax second quarterly instalment payment for very large companies with annual taxable profits exceeding £20m...

HMRC Get Tough on Fraudulent Furlough Claims

Aug 9, 2021

In his 2021 budget announced in March, Mr Sunak promised tax reform in an attempt to raise £2.2 billion towards erasing the national deficit, alongside increased investment in compliance capabilities for HMRC to get tough on fraudulent furlough claims. HMRC Gets Tough The chancellor promised to sharpen up on fraud, tax avoidance and tax evasion, hoping to raise £2.2 billion over five years. We are...

Welcome to the July 2021 News Update from Prestige Business Management

Jul 29, 2021

July 2021 Update – featuring additional news developments from our newsletter series. Stay informed with the latest news in business support and financial affairs. Key Dates Coming Up Payment on Account Due – 31st July If you have a tax payment on account, remember to make your payment on time, which is due by midnight on 31st July Employee Furlough Contributions Rise – 1st August...

Caution Urged Over Fourth SEISS Grant

Apr 19, 2021

It has been announced that the portal for applications for the fourth Self-Employment Income Support Scheme (SEISS) Grant, will open on 22 April. Self employed workers have been waiting since February for further guidance about the fourth SEISS Grant, which has been promised since October, but was not confirmed until the 2021 Budget on 3 March. Late Opening of the Fourth SEISS Grant Portal A...

Fourth SEISS Grant Delay

Feb 9, 2021

It has been confirmed that self-employed workers will now be waiting until budget day on 3 March, to find out what to expect from the fourth SEISS grant. The fourth SEISS grant delay means that millions of self-employed workers will now face further financial uncertainty. A fourth Self Employed Income Support Scheme (SEISS) grant has been expected since October from the Chancellor, to support self-employed...

Welcome to the January 2021 News Update from Prestige Business Management

Jan 28, 2021

January 2021 News Update – featuring additional news developments from our newsletter series Welcome to Prestige Business Management’s monthly news roundup. We will help keep you informed of the latest financial news and developments. Budget day is usually highly anticipated with much speculation in the weeks leading up to it. This year however we are witnessing an absolute clamour for information from a Treasury under...

HMRC Called to Extend Self Assessment Deadline

Jan 21, 2021

Self Assessment Deadline Extension Article Amended on 25 January On 25 January HMRC announced that self-assessment customers will not receive a penalty for their late online tax return if they file by 28 February. Taxpayers are still obliged to pay their bill by 31 January. Interest will be charged from 1 February on any outstanding liabilities. Taxpayers who cannot afford to pay their tax bill...

National Minimum Wage Increase

Jan 8, 2021

The Government has announced the National Living Wage (NLW) and National Minimum Wage (NMW) rates which will come into force from April 2021. It accepted in full recommendations made by the Low Pay Commission at the end of October. The Low Pay Commission (LPC) is an independent public body that advises the Government each year on the National Minimum Wage (NMW) and National Living Wage...

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