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Penalty suspension for late filed accounts has ended

Companies House has updated its Covid-19 guidance for its customers and has ended payment breaks for late filing penalties

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Only 11% of businesses are measuring their carbon footprint

Just 11% of UK businesses are measuring their carbon footprint, according to the findings of a survey conducted by the British Chambers of Commerce (BCC).

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UK to overhaul funding of research and development

The government is to review the bodies it uses to finance research and development (R&D) in the UK.

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UK businesses owe HMRC £2.7bn after VAT holiday

HMRC is still owed £2.7bn in deferred VAT payments from over 150,000 UK businesses who have not yet made arrangements to pay it back

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Job vacancies increase to over pre-pandemic levels

There are more job vacancies now than there were before the pandemic, according to the Official for National Statistics (ONS).

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HMRC launches consultation on basis period reform

HMRC has recently launched a consultation on how basis periods can be reformed for income tax for the self-employed.

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£375m Future Fund: Breakthrough opens for applications

A new £375m scheme to drive investment in the UK’s most high growth, innovative and R&D intensive firms opens today (Tuesday 20 July) – in a move designed to super charge the UK’s post-pandemic economy.

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£5.5bn paid in fourth SEISS grants

The latest Self-Employment Income Support Scheme (SEISS) figures show that two million self employed individuals have claimed for the fourth grant

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HMRC publishes guidance on the fifth SEISS grant

Full details of the fifth Self-employment Income Support Scheme (SEISS) grant, including a new turnover test which determines the level of the grant, have now been published by HMRC.

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800,000 claim tax relief for working from home

Almost 800,000 employees who have been working from home during the pandemic have already claimed tax relief on household related costs, HMRC has confirmed.

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Three year carry back of company losses

An extended loss carry back was announced at Budget 2021 which enables companies (and individuals) to make claims to carry back losses for a further 2 years

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Cash payments fell by over a third during 2020

The number of cash payments made in the UK fell by 35% during 2020, according to the latest figures from banking trade body UK Finance.

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Furlough scheme starts to wind down

The government's Coronavirus Job Retention Scheme (CJRS) begins winding down from 1 July.

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13,000 investigations launched into COVID-19 support scheme fraud

HMRC has launched nearly 13,000 investigations into alleged abuse of the government's coronavirus (COVID-19) financial support schemes.

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Schemes create one stop shop for VAT on EU trade

Three schemes will be launched on 1 July to deal with VAT on business-to-consumer supplies of goods and services to EU customers

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Delayed EU import declarations due

The first supplementary delayed declarations on imports of non-controlled goods from the EU are due from 25 June 2021, HMRC has reminded businesses.

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UK economy back to pre-covid level by end of year

Despite the delay on the lifting of all lockdown restrictions for another month, the UK economy is set to bounce back to its pre-COVID level towards the end of 2021

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First UK Infrastructure Bank opens for business

The first ever UK Infrastructure Bank has opened for business in Leeds with the aim of investing in sectors such as clean energy and transport.

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Finance Act 2021 receives early Royal Assent

Royal Assent of Finance Act 2021 was granted on 10 June, bringing the extended loss carry-back, super-deduction and other measures into force.

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Don’t miss the P11D deadline

Despite the coronavirus lockdowns, HMRC still expect P11D forms reporting expenses and benefits to be submitted by the normal 6 July deadline

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