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Bounce Back Loan repayments due for many small businesses

Many small businesses will soon be required to begin repaying loans taken out under the government's Bounce Back Loan Scheme (BBLS).

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Fifth SEISS grant will be open to claims from late July

The fifth Self-employment Income Support Scheme (SEISS) grant covering May 2021 to September 2021 will open to claims from late July

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Scams warning for tax credits customers

Tax credits customers should be vigilant and alert to potential scams, HM Revenue and Customs (HMRC) has warned

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Number of freelancers increases for first time since onset of pandemic

The number of self-employed individuals increased month-on-month for the first time since the outbreak of the coronavirus (COVID-19) pandemic

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VAT Deferral New Payment Scheme to close in June

Businesses that deferred VAT payments last year have one month left to join online and pay in monthly instalments under the VAT Deferral New Payment Scheme

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Making Tax Digital is the priority for HMRC

Jesse Norman MP, financial secretary to the Treasury, has told businesses and accountants that HMRC’s priorities for the future of the tax system will heavily involve Making Tax Digital (MTD)

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COVID schemes now supporting 1.6 million UK businesses

The government's coronavirus (COVID-19) support schemes have now been used by almost 1.6 million UK businesses, according to the latest figures from HM Treasury.

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SMEs needing advice on imports and exports can apply for grants, HMRC confirms

Small and medium-sized enterprises (SMEs) requiring advice on imports and exports will be able to apply for a grant of up to £2,000, HMRC has confirmed.

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VAT Deferral New Payment Scheme – online service opens

Over half a million businesses who deferred VAT payments last year can now join the new online VAT Deferral New Payment Scheme to pay it in smaller monthly instalments, HMRC has announced today

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Domestic VAT reverse charge comes into effect on 1 March

The twice-delayed introduction of the domestic VAT reverse charge for construction services will come into effect on 1 March 2021.

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Chancellor urged to outline economic recovery plans in upcoming Budget

The Institute for Fiscal Studies (IFS) has urged Chancellor Rishi Sunak to use the upcoming Budget to set out plans for an economic recovery from the coronavirus (COVID-19) pandemic.

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HMRC clarifies off-payroll working compliance rules

HMRC has published a briefing on its approach to the changes to off-payroll working rules, commonly known as IR35

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Vaccination programme set to boost economic recovery

The UK's coronavirus (COVID-19) vaccination programme will help the UK economy rebound strongly this year, according to the Bank of England (BoE).

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£1000 Cash Boost for Employers hiring trainees

Employers can now apply for a £1,000 cash boost to help them take on new trainees, the government has announced.

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Month-long pause in Companies House strike-off process

Companies House is to pause voluntary and compulsory strike-off processes for one month to tackle a backlog

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VAT Construction Reverse Charge-are you prepared for the change?

New rules governing how VAT registered traders within the Construction Industry Scheme account for VAT will come into force on 1st March 2021

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One in three blocked from paying with cash during pandemic

Over a third of UK consumers have been blocked from paying for goods with cash during the coronavirus (COVID-19) pandemic

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SME payment terms slashed to 30 days

Under reforms to the Prompt Payment Code (PPC), the required payment period for larger suppliers to small businesses is to be halved to 30 days, with commitments to be made personally by CEOs or finance directors

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Legal win for SMEs on Covid-19 insurance pay-outs

Tens of thousands of SMEs forced to close during the first lockdown are in line for insurance pay-outs, after the FCA won a test case set to cost insurers over £1bn in claims

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COVID-19 is reasonable excuse for self assessment late filing, says HMRC

HMRC says it will accept coronavirus (COVID-19) as a reasonable excuse for the late filing of self assessment tax returns

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