Our quickbites brings you the latest industry news, trends, research and insights on an array of technical topic areas.
One-year freeze for business rates multiplier in England
One-year freeze for business rates multiplier in England One of the key factors that determine the tax on a business’s right to occupy commercial property in England has been frozen for [...]
National living wage to increase alongside age threshold fall
National living wage to increase alongside age threshold fall Employers of low-paid workers in the UK will have to absorb another rise to the national living wage and pay it to [...]
HMRC issues last reminder for 2019/20 personal tax returns
HMRC issues last reminder for 2019/20 personal tax returns HMRC is reminding taxpayers that the deadline to submit 2019/20 personal tax returns through self-assessment is on or before midnight on 31 [...]
Annual investment allowance remains at £1m until 2022
Annual investment allowance remains at £1m until 2022 A temporary increase to the annual investment allowance has been extended until 1 January 2022, the Treasury confirmed. The annual investment [...]
Self-employed fear tax returns may affect fourth SEISS claim
Self-employed fear tax returns may affect fourth SEISS claim Some self-employed workers fear submitting their 2019/20 tax return early might affect their ability to claim a fourth taxable grant from the [...]
Government body urges capital gains tax overhaul
Government body urges capital gains tax overhaul Current capital gains tax rates are too complex and should be aligned with income tax rates, according to the Office for Tax Simplification (OTS). [...]
Furlough scheme extended until the end of March 2021
Furlough scheme extends UK-wide until the end of March 2021 The scheme has been extended until 31 March 2021, following a temporary extension last month. The furlough scheme was [...]
VAT-registered traders urged to prepare for life after Brexit
VAT-registered traders urged to prepare for life after Brexit HMRC has issued a last call to around 250,000 traders, highlighting urgent actions to take if they wish to continue trading with [...]
Three in five bounce-back loans may never be repaid
Three in five bounce-back loans may never be repaid, watchdog claims Up to three in five bounce-back loans (BBL) handed out during the pandemic might never be repaid, according to the [...]
Sunak hints at spring tax hikes to ‘balance the books’
Sunak hints at spring tax hikes to ‘balance the books’ Chancellor Rishi Sunak has promised to “balance the books” in a bid to plug a £208 billion hole in the UK’s [...]
Third grant for the self-employed increases to 80%
Third grant for the self-employed increases to 80% for November The self-employed can claim Government support of up to 80% of profits during the initial month-long lockdown in England, Chancellor Rishi [...]
Government extends furlough scheme ahead of lockdown in England
Government extends furlough scheme ahead of lockdown in England The Government has extended the furlough scheme for employers until 30 November 2020, as a second lockdown in England looms to slow [...]