HMRC have issued a warning for Christmas shoppers to be aware of potential customs charges arising on certain goods purchased and imported from the EU due to changes that came into effect on 1 January 2021 when the Brexit transition period ended.
Debt Management in a time of COVID-19
It is inevitable: not every business that has taken a COVID-19 bounce back loan will manage to ‘bounce back’, some taxpayers who deferred payments of Income Tax & VAT will remain in default and, some people took fast and easy government loan finance with no plans to ever repay it. Coronavirus has left the UK, like many other nations, with a massive debt legacy. Parliament is currently pursuing the issues via the House of Commons Public Accounts Committee (PAC).
Nichola's SME Tax W-update 25 November 2021
Hello,
You may have thought that the Autumn Budget was a bit dull, but this week we aim to brighten up your professional life with some really useful new tax guides.
Agent update: November 2021
HMRC have issued their Agent Update for November 2021. We have summarised the key content for you with links to our detailed guidance on the topics covered.
Nichola's SME Tax W-update 18 November 2021
Hello,
This week we have a guide to the Plastic Packaging Tax; according to the policy background to this new tax, it aims to provide a “clear” economic incentive for businesses to use recycled plastic in the manufacture of plastic packaging. Whether this tax is going to make any difference to the vast amount of plastic that is created on a daily basis remains to be seen. At this stage it's one small step in the right direction.
Economic Crime Levy
The Economic Crime Levy is a fixed fee paid by medium and large-sized entities that are subject to Money Laundering Regulations. This will include accountants, auditors and tax advisors. Registration, filing and payment are due by 30 September.
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