Penalties for overclaimed SEISS grants
HMRC has updated their guidance which sets out the procedure for reporting and repaying overclaimed Self-Employed Income Support Scheme (SEISS) Grants. The Revenue is also reminding sole traders and partners who have received these grants, that there are potential... read more
Preparing payroll for the upcoming National Insurance changes
Businesses are being advised to prepare their payroll for National Insurance changes which are coming into effect from next month. From 6 July 2022, some National Insurance Contribution (NICs) thresholds will increase. The primary threshold for 6 July 2022 to 5 April... read more
Recovery Loan Scheme comes to an end
The Recovery Loan Scheme was introduced by the UK government following the disruption that COVID-19 brought to businesses up and down the country. As all COVID restrictions have been lifted for a few months now, The Recovery Loan Scheme will be coming to an end on 30... read more
Making Tax Digital now mandatory for VAT-registered businesses
Making Tax Digital (MTD) became mandatory for all VAT registered businesses in the UK on 1 April 2022. The government has introduced the scheme in a bid to help taxpayers submit their tax returns correctly, reduce common mistakes and save time. Evidence shows that... read more