Newsletter...
February 2022 Newsletter
In this month’s Enews we consider the government’s scheme to give discounts on accounting software; the requirement for companies to include COVID-19 grants in their tax returns; and the reopening of the portal for sick pay claims. We also update you with the latest on claiming tax rebates and the impact of the national insurance increase. With guidance on HMRC scams and a digital UK currency, there is a lot to update you on.
- COVID-19 support grants paid to companies must be included on company tax returns
HMRC has warned that businesses must declare any coronavirus (COVID-19) support grants or payments on their company tax returns and stated that the grants and payments are taxable. The deadline for filing company tax returns is 12 months after the end of the accounting period.......read more - Government scheme gives discounts of up to £5,000 on accounting software
The government's Help to Grow: Digital scheme – designed to support smaller businesses in adopting digital technologies – is now open for applications. Under the scheme, eligible businesses can now receive discounts of up to £5,000 off the retail price of approved digital accounting and CRM software from leading technology suppliers.......read more - Claims portal reopens for Statutory Sick Pay Rebate Scheme
HMRC has reopened a claims portal for small employers to again claim refunds for coronavirus (COVID-19)-related sick pay. The reopening follows the announcement of the reintroduction of the Statutory Sick Pay Rebate Scheme (SSPRS) from 21 December 2021 for employers with fewer than 250 employees by the government.......read more - Consumer group urges taxpayers to avoid using refund firms to claim tax rebates
Consumer group Which? has urged taxpayers to avoid using so-called 'refund firms' to claim tax rebates. Which? stated that people are losing hundreds of pounds by using third-party companies to claim tax rebates rather than going directly to HMRC. Research carried out by the group found that one in five people had been either contacted directly by a tax refund.......read more - National insurance rise 'set to squeeze budgets', warns CBI
The Confederation of British Industry (CBI) has warned the government that the planned rise in national insurance will squeeze budgets and affect economic growth. The rise will see employers, employees and the self-employed pay 1.25p more in the pound from April 2022. From April 2023, the extra tax will be collected as part of the new Health and Social Care Levy.......read more - No 'convincing case' for digital UK currency, says House of Lords committee
Creating an official digital currency in the UK could pose significant risks to the financial stability of banks, a House of Lords committee has warned. The Lords Economic Affairs Committee said introducing a Central Banking Digital Currency (CBDC) 'would have far-reaching consequences for households, businesses and the monetary system'.......read more - Scam HMRC call reports drop by 97%
Reports of scam HMRC phone calls have fallen by 97% over the last 12 months, according to the latest figures from the tax authority. According to HMRC, reports of scammers impersonating HMRC in phone calls peaked at 79,477 in March 2021 and fell to just 2,491 in December 2021......read more - BCC calls for 'urgent action' to improve UK-EU trade
The British Chambers of Commerce (BCC) has called for urgent action to help improve trade with the EU. A survey carried out by the BCC revealed that 60% of UK exporters reported difficulties trading with the EU. The business group said the number of lorries waiting to get into the port of Dover.......read more
Previous ENEWS Archives
May 2022 | April 2022 | March 2022 | February 2022 | January 2022 | December 2021 | November 2021 | October 2021 | September 2021 | August 2021 | July 2021 | June 2021