Under the MTD (Making Tax Digital) rules, using the wrong software for VAT returns could land you with a fine. There are also potential penalties for failing to use your software’s auto checking functions, record-keeping failures, as well as new rules for calculating penalties for late submissions and payment. Here’s a closer look at what’s […]
It has become clear that billions of pounds paid out under the government’s various Covid support schemes were claimed fraudulently or in error. It’s going to be impossible for the Treasury to recover every penny wrongfully paid. In fact, HMRC’s chief executive recently admitted to MPs that he expects just £1 of every £4 of […]
Thanks to the now-standard flurry of leaks, pre-briefings and heavy hints, we had a pretty good idea of what was going to be included in…
Following the end of the Brexit transition period, the UK has left the EU with an all-new trade agreement in place. In principle, the…
CGT Update A review of capital gains tax commissioned by the chancellor was completed last week and it is proposing big reforms to the…
In England, ‘lockdown 2’ is currently upon us. A raft of relief extensions has accompanied the temporary shelving of the tiered lockdown…
Setting up a UK company is quick, cheap and easy to do. In fact, law enforcers would have us believe that it’s a little too easy at…
Opening a small business account used to mean taking your pick from just half a dozen or so high street banks. But these days, alongside…
As home working looks to be here to stay, more and more people are asking about the tax implications of building a home office. Much like…
Some important changes to the insolvency rules came into force on 26 June, designed to offer extra protection for companies struggling…
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Seamus Duggan, Lakefield Services
