On 12 November 2020, the details of the proposed Small and Medium-sized Enterprise (SME) Cap, which is due to come into effect on 1 April 2021, was published.
The Institute of Chartered Accountants in England and Wales (ICAEW) has raised concerns over proposals to alter the level of tax relief on pensions contributions for low-earners, arguing that any changes could burden businesses.
The Government’s UK Export Finance (UKEF) scheme has now been extended to support international trade in more than 100 countries, it has been announced.
From 1 October 2020, individuals who complete Self-Assessment tax returns will now be able to divide their tax bill into monthly instalments, without speaking to an HM Revenue and Customs (HMRC) adviser first.
From this week, Self Assessment customers affected by Covid-19 can apply online to spread the cost of their tax bill into affordable monthly payments.
Commercial property: Retail rental arrears could rise to £2 billion after third-quarter payment deadline
According to research, retail rent arrears could total over £2 billion following the third-quarter payment deadline this week.
The disruption of business, due to the coronavirus pandemic, has meant many companies are still waiting on unpaid invoices from their debtors.
According to HM Revenue and Customs (HMRC), more than £215 million of Coronavirus Job Retention Scheme (CJRS) payments have been willingly returned to the Government by UK firms, out of £35.4 billion worth of claims up until 16 August.
The Institute of Chartered Accountants in England and Wales (ICAEW) has warned businesses to get “their data right” or face delays receiving grants under the Coronavirus Job Retention Scheme (CJRS).
The Government is being urged to ensure that young people gain access to the Child Trust Fund, which was set up by the Government in 2005 to provide young adults with a nest-egg.