Income Tax charge to recover CJRS overclaims

Employers should notify HMRC if they have received a CJRS payment to which they are not entitled and pay back any amounts of CJRS grants claimed in error. By paying back any amounts they were not entitled to, employers can avoid any tax liability for

Repaying furlough grants if overclaimed

Any business that has overclaimed a Coronavirus Job Retention Scheme (CJRS) grant must pay back the overpayment to HMRC. The rules outlined below for paying HMRC back an overclaim also applies to businesses that would like to make a voluntary

Budget date announced

The Chancellor of the Exchequer, Rishi Sunak has confirmed that the next UK Budget will take place on Wednesday, 3 March 2021. This will be the Chancellor’s second Budget and will focus on delivering the next phase of the plan to tackle the virus and

No VAT on women’s sanitary products

The UK was unable to zero rate VAT on women’s sanitary products under EU rules and the items were subject to 5% VAT. Following the end of the transition period the UK is no longer bound by the EU VAT Directive which mandates a minimum 5% rate of VAT

Time to pay arrangements

One of the measures announced by HMRC at the start of the coronavirus pandemic was the introduction of emergency measures to help those affected by COVID-19 using the existing Time to Pay service. Businesses and self-employed people in financial

Tax returns filing deadline at the end of this month

The 31 January 2021 tax return filing deadline is not just the final date for submission of your Self-Assessment tax return but also an important date for payment of tax due to HMRC. This includes the payment of any balance of Self-Assessment

Looking for a customs agent?

The Brexit transition period has come to an end and a new customs border has been created between the UK and EU. If you are moving goods to or from the UK then you need to ensure that you have all the correct procedures in place.

One of the most

Did you file your tax return on Christmas Day?

A new press release by HMRC has highlighted that 2,700 taxpayers took the time to file their tax return online on Christmas Day with a further 8,500 taxpayers completing their tax returns on Boxing Day. In total, 31,400 Self-Assessment returns were