Late payments: Large businesses to pay small firms within 30 days under Prompt Payment Code

20 Jan 2021

The Government has confirmed that large businesses that have signed up to the Prompt Payment Code (PPC) must pay small businesses within 30 days.

Read Full Story

HM Revenue & Customs increases the threshold for Self-Assessment online payment plan service to £30,000

19 Jan 2021

HM Revenue & Customs (HMRC) has increased the threshold for Self-Assessment taxpayers to use its online self-service Time to Pay payment plan service from £10,000 in tax liabilities to £30,000. The move means that more taxpayers will be able to spread the cost of their tax bills by paying in monthly instalments, without having to […]

Read Full Story

Independent commission argues against annual wealth tax but advocates a one-off charge

19 Jan 2021

An independent commission established last spring by the London School of Economics, the University of Warwick and the Economic and Social Research Council to analyse proposals for a wealth tax has rejected an annual tax but has advocated a one-off charge. The commission comprises senior academics from the universities involved as well as tax barrister, […]

Read Full Story

Could the Government be about to launch a new permanent state-backed small business loan scheme?

19 Jan 2021

According to reports in the Financial Times, the Government is considering launching a new loan scheme, where businesses could borrow anything up to £10 million through an 80 per cent state-guaranteed bank loan. The new scheme, which could be a successor to the existing Coronavirus Business Interruption Loan Scheme (CBILS), would provide a permanent state-backed […]

Read Full Story

HMRC issues new warning over lockdown fraudsters

19 Jan 2021

Within hours of the Prime Minister announcing a new national lockdown in England, HM Revenue & Customs (HMRC) has issued new warnings after it received reports that fraudsters were attempting to dupe taxpayers by pretending to be the tax authority. Throughout the last year, criminals attempted to scam businesses and individuals out of money by […]

Read Full Story

FSB proposes move to turn Covid emergency debt into shared ownership schemes

19 Jan 2021

The Federation of Small Businesses (FSB) is calling on the Government to introduce new measures to help companies struggling with COVID-related debt, including employee shared ownership. The FSB has said that businesses are facing “unmanageable” levels of Coronavirus debt – with four out of 10 small businesses describing their indebtedness in this way. Already nearly […]

Read Full Story

VAT – Post-Brexit arrangements

19 Jan 2021

The latest guidance on VAT on imports and services to and from the EU is complex and businesses need to account for this in their trading. To help we have provided a brief summary below, but we highly recommend you seek additional advice. Import VAT  Goods that move into the UK from the EU from […]

Read Full Story

IR35: Businesses are still not prepared for off-payroll working rules

18 Jan 2021

According to a recent study, many UK firms are not adequately prepared for the off-payroll tax rule changes for the private sector to start in April 2021.

Read Full Story

Contact Us Today

For more information on any of our services, please leave your details here and one of our team will contact you.

If you would like to see full details of our data practices please visit our Privacy Policy and if you have any questions please email info@rtaccountants.co.uk.