Advisory Fuel Rates: updates from 1 December 2020

HM Revenue and Customs (HMRC) has updated the Advisory Fuel Rates (AFRs) which come into effect on 1 December 2020, for company car drivers requiring fuel costs from their employer. However, you can use the previous AFRs for up to

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Scottish COVID-19 Tiered System

Scotland operates a system of tiered local restrictions that the public and businesses must abide by. To help you understand how this may affect you and your business, we have produced a helpful table below:   Level 0 Level 1

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Self-employed profits must be “significantly reduced” to claim third SEISS grant, says HMRC

Self-employed workers’ profits must be “significantly reduced” in order to claim the third instalment of the Self-Employment Income Support Scheme (SEISS), it has been revealed.

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Spending Review highlights long-term economic impact of Coronavirus pandemic

The Chancellor’s statement to Parliament setting out his Spending Review decisions came against a backdrop of predictions from the Office for Budget Responsibility (OBR), which indicated that the UK economy will shrink by 11.3 per cent this year – the

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Important deadlines approach for the furlough scheme

Businesses across the UK are being reminded of key deadlines and actions for the Coronavirus Job Retention Scheme (CJRS), which are just days away. The CJRS was extended recently to 31‌‌‌ ‌March 2021 for all parts of the UK. Since

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Third round of Self-Employment Income Support Scheme (SEISS) opens on Monday with tighter eligibility criteria

The third round of the Self-Employment Income Support Scheme (SEISS) will open on Monday 30 November 2020 with tighter eligibility criteria than have applied to the previous two rounds of the scheme. The third grant is worth 80 per cent

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Companies House to scrap paper reminder letters

Companies House has announced that businesses will no longer receive reminder letters, as it seeks to end paper communications. Businesses across the UK have been receiving a notification letter by post letting them know that Companies House is withdrawing this

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HMRC’s amended guidance on late furlough claims

On 19 November 2020, the Government amended its guidance to give examples of what is meant by a ‘reasonable excuse’, for submitting furlough claims past the deadline.

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HMRC to investigate Eat Out to Help Out scheme claimants

Registered users of the Eat Out to Help Out scheme (EOTHO) should check their claims to ensure money has not been paid out incorrectly, HM Revenue & Customs (HMRC) has announced.

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Proposed R&D cap for SMEs published

On 12 November 2020, the details of the proposed Small and Medium-sized Enterprise (SME) Cap, which is due to come into effect on 1 April 2021, was published.

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