Latest news
VAT Deferral Deadline
Businesses that deferred VAT payments last year have one month left to join online to pay in monthly instalments under the VAT Deferral New Payment Scheme, HM Revenue and Customs (HMRC) has said. The online portal for the new payment scheme closes on June 21, 2021. Jim Harra, HMRC’s Chief Executive, said: “Businesses in the South West that
Self-Employment Income Support Scheme
The Government is launching a fifth SEISS grant covering May 2021 to September 2021. The grant will be open to claims from late July 2021. It is taxable and will be paid out in a single instalment. Guidance for claiming the grant will be available by the end of June 2021. To be eligible for the grant you must be
Breathing Space for problem debt
Residents in the UK struggling with debt problems will be supported through a new debt respite scheme, “Breathing Space”, launched by the government, which gives a 60-day respite period. The Treasury estimates that around 700,000 people struggling with problem debt will benefit from the launch of the new Breathing Space campaign. The scheme will give those facing financial difficulties
Furlough Scheme Changes from 1st May
The government has made a number of changes to how the Job Retention Scheme works for furloughed employees, which came into effect from 1st May 2021. At Robinsons North London Accountants, we can help you navigate these changes. Currently, employees cannot be furloughed if they were not employed past 30 October 2020, and even then a PAYE Real
New Tax Year Changes
12 important tax year changes kick in today. They include Universal Credit, Personal Independence Payments and Jobseeker’s Allowance. Here are the changes coming into effect this month… Tax allowance The Personal Allowance is currently set at £12,500 for the 2020/2021 tax year. In 2021/2022, the Personal Allowance will rise by 0.5 percent to £12,570. The income limit for the
Increased Minimum Wage
Millions of workers in all parts of the UK will receive a pay increase as minimum pay rates rise, with the age threshold reduced to 23 year olds Around two million of the UK’s lowest-paid workers will benefit from an increase in National Living Wage and National Minimum Wage. The National Living Wage has risen to 2.2% to £8.91, and
The Budget 2021
The Budget 2021 Today Chancellor Rishi Sunak announced the 2021 Budget in the House of Commons. Below we have highlighted the key points of his announcement. “This budget meets the moment with a three-part plan to protect the jobs and livelihoods of the British people,” Rishi Sunak tells the Commons. “First, we will continue doing whatever it takes to support
Getting your business fighting fit for 2021
Lockdown 3.0 NEW Support Grants & Extensions: Are you Eligible?
Last night, England entered its third national lockdown after Boris Johnson shut schools and imposed the toughest restrictions in March in an attempt to stem surging coronavirus infections. An end date to the lockdown has yet to be established, which we know delivers considerable uncertainty for many businesses. With your business circumstances in mind we have highlighted the core elements of the latest support,
The Brexit Transition
The UK has left the EU and with the transition period coming to an end on 1st January 2021, it’s more important than ever, that businesses are ready for the impact that Brexit will have on their future. With guidance directly from HMRC, we have highlighted a key checklist for your business.* *The following is based on Government guidance as at
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