News

The Low Incomes Tax Reform Group (LITRG) has urged the government to raise the High Income Child Benefit Charge (HICBC) threshold to avoid it affecting basic-rate taxpayers for the first time in April. The LITRG

Almost nine million people had to borrow more money in 2020 as a result of the coronavirus (COVID-19) pandemic, data published by the Office for National Statistics (ONS) has revealed. According to the ONS, the

Over a third of UK consumers have been blocked from paying for goods with cash during the coronavirus (COVID-19) pandemic, according to research from consumer group Which?. Which? surveyed more than 2,000 people across the

Large businesses must now pay their smaller suppliers more quickly under changes to the UK’s Prompt Payment Code (PPC). Big businesses signed up to the PPC must pay small firms with fewer than 50 employees

Ahead of the 2021 Budget in March, the Confederation of British Industry (CBI) has urged the government to provide more financial assistance to businesses affected by the coronavirus (COVID-19) pandemic. The business group has outlined

The UK’s Supreme Court has found in favour of small firms receiving payments from coronavirus (COVID-19) business interruption insurance policies. The test case was brought against insurers by the Financial Conduct Authority (FCA). The ruling

The new Government grant schemes announced by the Chancellor following the National Lockdown on 5 January are now open for claims on some local authority websites. This new Government support includes one-off top up grants

HMRC says it will accept coronavirus (COVID-19) as a reasonable excuse for the late filing of self assessment tax returns. However, taxpayers must submit the return as soon as possible and explain how they were

Tax payments worth over £69 million are being spread through HMRC’s Time to Pay facility, according to the tax authority. HMRC said that nearly 25,000 self assessment taxpayers have set up an online payment plan

Chichester businesses may be eligible for a Local Restrictions Support Grant for businesses that were closed from 26 December 2020 to 4 January 2021 when the area went into Tier 4. Details on this grant

HMRC has reminded employers that there are now monthly deadlines for claims for furloughed staff under the Coronavirus Job Retention Scheme (CJRS). Chancellor Rishi Sunak extended the CJRS until the end of April 2021. The

The Institute of Chartered Accountants in England and Wales (ICAEW) has urged HMRC to publish draft regulations and guidance on the forthcoming changes to the Construction Industry Scheme (CIS). The ICAEW has called for HMRC