A catering contractor who failed to register for VAT despite earning well above the registration threshold has been fined and banned from running a company for seven years.
International businesses affected by Covid-19 will have more time to make UK VAT refund claims, it has been confirmed.
Due to the unprecedented challenges 2020 has thrown our way, businesses have had to adapt quickly to new hurdles and coronavirus-related restrictions. However, with the year coming to an end, it is essential to get set for the year ahead with budgeting, effective cash flow management, plus forecasting and management accounts.
Covid-19: New VAT deferral payment scheme to open for applications from “early 2021”, Government reveals
Businesses that want to pay deferred VAT in instalments throughout the 2021/22 tax year must register for a new scheme by 31 March 2021, it has been confirmed.
The current climate is challenging for businesses, with various measures meaning that your volume of work may have reduced, or you may have had to change your working practices.
Employers who first set up their business between 1 July 2017 and 30 September 2017 are being reminded that they must have automatically enrolled their employees into a workplace pension scheme before 1 February 2018.
The Federation of Small Businesses (FSB) has criticised the Government’s £300 million business rates relief fund, amid concerns that hundreds of businesses are still waiting to benefit from the scheme.