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Are you ready for Making Tax Digital for VAT in 2022?

This year, Making Tax Digital for VAT is being extended to smaller VAT businesses including the self-employed and landlords.  

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Funding now available for CRM, accounting and eCommerce software

Funding for CRM, accounting and eCommerce software is now available through the government’s Help to Grow: Digital scheme.   

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Government announces delays to new VAT penalty system

The government has announced that the new penalty system for late submissions of VAT returns, which was due to come into effect from 1 April 2022, will now be delayed by nine months, until January 2023.  

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CLAIM BACK STATUTORY SICK PAY PAID TO YOUR EMPLOYEES DUE TO COVID-19

In response to the effect the Omicron variant is having on businesses, HMRC has reactivated the Statutory Sick Pay (SSP) rebate scheme. Under the scheme, employers can claim back any Covid-related SSP costs, for up to two weeks per employee.  

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Extension to recovery loan scheme

The Recovery Loan Scheme (RLS) is currently open to businesses of any size to support them to access loans and different kinds of finance so they can rebuild after the pandemic and pandemic transition period, this replaced the former schemes of CBILS and BBLS.

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Self Assessment tax deadline 2022

The deadline to file your 2020/21 self-assessment tax return is soon. Taxpayers that choose to file via a paper return had a deadline of 31 October 2021. If you file electronically, the filing deadline is 31 January 2022 however HMRC is waiving late filing and late payment penalties for one month giving self-assessment taxpayers extra time (if required) to complete their 2020 to 2021 tax return and pay an tax due.

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QuickBooks Desktop users must switch to QuickBooks Online

QuickBooks has discontinued its QuickBooks Desktop service in the UK, from January 2022.

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Extended HMRC deadline for self assessment tax payers

For those struggling from the pressures of Covid-19, HMRC has announced that it will be extending the deadline for Self Assessment taxpayers for one month.  

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COVID-19: Temporary changes to sickness self-certification

New temporary changes to sickness self-certification came into effect on Friday 17 December.  Under the new rules, employees who are ill can now self-certify for the first 28 days.  They do not need to give their employer a doctor’s ‘fit note’ (also sometimes called a sick note).  

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COVID-19: New support measures announced

Chancellor Rishi Sunak has announced more government support provided for businesses most impacted by the rising number of Coronavirus cases in the UK.  

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Grants for electric vehicles cut by 40%

The plug-in grant scheme for brand new zero-emission cars has been cut by 40% and is now restricted to lower priced vehicles.  

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Scam warning: Bogus HMRC letters

We have recently become aware of a letter purporting to be from HMRC regarding Corporation Tax payments asking clients to call a fake HMRC contact number and set up a payment plan.