News

The below NMW rates come into effect from 1st April 2022.

There has been an introduction of a revised policy on the VAT treatment of early termination fees and compensation payments by HMRC by the publication of  Revenue and Customs Brief 2 (2022). This will be taken into consideration from April 1, 2022. This would be used instead of the guidance…

Heirs of the creative industry tax reliefs may desire to submit fresh substantiation to HMRC to enable HMRC to smartly evaluate their claim. This extra substantiation can be handled within the company’s tax return or through an online form to assist the claim. Claims must be made within the tax…

HMRC suggests VAT-registered firms sign up for Making Tax Digital for VAT prior to 1 April 2022. Firms are asked to take steps to prepare for Making Tax Digital for VAT before it is declared compulsory for all VAT-registered firms from 1 April 2022. Making Tax Digital is designed to assist…

On the EPS, there has been added an extra field for CIS deductions which has been introduced by HMRC. In order to make claims for CIS deductions, the COTAX reference number or CT UTR (Corporation Tax Unique Taxpayer Reference) must be entered by the companies. Otherwise, EPS submissions would be…