If you deferred paying VAT due in the period from 20 March to 30 June 2020, you should pay it by 31 March 2021 if you can. If you can’t afford to pay by 31 March 2021, you can join the VAT deferral new payment scheme and pay your deferred VAT over a longer period. The online service…
HMRC is urging VAT-registered UK businesses which trade exclusively with the EU to be prepared for a no deal Brexit. In a letter sent to 145,000 affected businesses, HMRC explains changes to Customs, Excise and VAT procedures in the ‘unlikely event’ that the UK leaves the EU without a Brexit deal. HMRC’s letter…
HMRC has issued a Partnership Pack to help businesses carry out contingency planning and to help their customers, members and clients to: think about how they will need to adapt their business to comply with new systems, processes and controls assess the impact of the increased demand for customs declarations on their business consider whether…
Retiring early is the dream for all of us, it is a chance to do more of what you enjoy, yet unsurprisingly the majority of us have never tried to calculate how much money we will need to save to live comfortably in retirement. Your likely income needs will depend upon whether in retirement you…
Last year the UK imported £350 billion of goods and services from businesses in fellow EU member states. Although a lot of talk in the run-up to Brexit is currently about what UK business should do to protect their interests post-Brexit, these European businesses should, similarly, be hedging their exposure to the expected changes. Germany,…
Audit Exemption Turnover Threshold: Raised to £10.2m. The Government is to raise the audit exemption threshold to the maximum allowed under EU law. In a statement read out in parliament, Anna Soubry, minister for small business, industry and enterprise, said the decision had been made after considering responses to its discussion paper. Companies will not be required to…
Export Insurance: Mitigating export risk. Whilst commercial banks and insurers will be your first source of support, if you can’t get export insurance from the private market, UK Export Finance may be able to help. UK Export Finance is the UK’s export credit agency and is the operating name of the Export Credits Guarantee Department (ECGD)…
Manufacturing: Record numbers undertaking apprenticeships. Provisional statistics released show that more people than ever are doing an apprenticeship, with a strong growth in the number of higher apprenticeships. According to the figures, more than 872,000 people were employed on government-funded apprenticeships during the 2014-15 academic year, with almost 30,000 people working towards gaining the higher…