0191 420 0550 | info@kpsimpson.co.uk

Blog

Deadlines for paying deferred VAT

The coronavirus VAT payment holiday gave businesses the chance to defer the payment of any VAT
Read More

EU exit – did you read this letter?

The Secretary of State for Business, Energy and Industrial Strategy, Alok Sharma has written a
Read More

Confirmation of Minimum Wage increases 2021

The Chancellor used the recent Spending Review to confirm that increased National Minimum Wage and
Read More

Pay January tax by instalments

The deadline for submitting your 2019-20 Self-Assessment tax returns online is 31 January 2021. You
Read More

HMRC’s Annual Tax Summary

The Annual Tax Summary is a document provided by HMRC that provides details on the tax you pay and
Read More

Coping with the new EU reality

It is apparent that our final exit from the EU, 1 January 2021, will disrupt the movement of goods,
Read More

Supply chains, a predictive approach for 2021

One of the more positive aspects - perhaps the only positive aspect - of COVID disruption has been
Read More

Spending Review 2021/22

The Chancellor, Rishi Sunak delivered the government's spending plans for the coming year to
Read More

MTD for Corporation Tax consultation

HMRC has issued a new consultation to examine how the principles established for Making Tax Digital
Read More

Register for Northern Ireland Trader Support Service

The Northern Ireland Trader Support Service was launched on 28 September 2020 to support businesses
Read More

Beware tax deadline scammers

Fraudsters are continuing to target taxpayers with scam emails in advance of the 31 January
Read More

Reasonable excuses for making a late furlough claim

HMRC’s guidance on making claims through the Coronavirus Job Retention Scheme was updated on 19
Read More

Tax Diary December 2020/January 2021

1 December 2020 - Due date for Corporation Tax payable for the year ended 28 February 2020. 19
Read More

Trading with businesses in Northern Ireland?

More than 7,000 businesses have now signed up to the new Trader Support Service (TSS), which will
Read More

Why compound interest is important

Many of us are building a pension fund, a portfolio of shares or deposits with our bank or building
Read More

Immigration Act receives Royal Assent

The Immigration and Social Security Co-ordination (EU Withdrawal) Act 2020 received Royal Assent on
Read More

Those who shout loudest

Many of the business disruption grants that have become available in the last few weeks are being
Read More

Do you need a customs agent?

If your business acquires goods or sells goods to the EU, and you have no import/export trade with
Read More

Business Asset Disposal Relief

Business Asset Disposal Relief used to be known as Entrepreneurs’ Relief before 6 April 2020. The
Read More

Holiday entitlements if furloughed

The Coronavirus Job Retention Scheme (CJRS) commonly known as the furlough scheme is open to all UK
Read More

Further support for mortgage borrowers

The Financial Conduct Authority (FCA) has announced new proposals to ensure that lenders provide
Read More

Protection for landlords and tenants

The government guidance for landlords and tenants as a result of the coronavirus pandemic has been
Read More

Coding out debts deadline

The coding threshold entitles tax payers to have tax underpayments collected via a tax code,
Read More

Shielding guidance for the clinically extremely vulnerable

Shielding for clinically extremely vulnerable people was paused in England on 31 July 2020.
Read More

UK and London Living Wages increase

The Living Wage Foundation has announced that its UK Living Wage has risen by 20p per hour from
Read More

Getting the most out of digital data

One of the great benefits of data stored in an electronic format is that it can be sorted in an
Read More

Barter your way through COVID disruption

While we wait for the magic-bullets that promise to reduce the impact of COVID - vaccines etc -
Read More

Online sales platform

If you sell goods or material that can be sold from the internet, have you considered this form of
Read More

Uncertainty

While politicians and scientists try and figure out the best way to control COVID, we are left to
Read More

Contributions towards capital expenditure

A wide variety of grants or subsidies are available to businesses and can be received in addition
Read More

Tax-free perk for Christmas

If you are an employer and looking to give a small Christmas bonus to your employees, then your
Read More

Responding to a court judgement

In today’s precarious business environment many companies are unable to pay their debts. If this
Read More

Taxable business gains

If you are in business as a self-employed sole trader or as part of a partnership, there may be
Read More

Less than 100 days to file your tax return

HMRC has published a news release to remind taxpayers that there is now less than 100 days to file
Read More

New national lockdown and changes to business support measures

The Prime Minister, Boris Johnson speaking at a press conference on Saturday night, 31 October
Read More

JSS – financial impact test for large employers

The Job Support Scheme (JSS) Open is available from 1 November 2020 for businesses that remain open
Read More

Carry back charitable donations

If you pay Income Tax at the basic rate no additional relief is due on your charitable donations.
Read More

Venues required to enforce rule of six

Since 18 September 2020, many designated venues in England have been required to enforce the rule
Read More

Job Support Scheme for closed businesses

The CJRS or furlough scheme ended on 31 October 2020 and has been replaced by the Job Support
Read More

Temporary extension to the Help to Buy scheme

The Help to Buy equity loans scheme is open to both first-time buyers and home movers on new-build
Read More

Clock ticking on the Annual Investment Allowance

The Annual Investment Allowance (AIA) allows for a 100% tax deduction on qualifying expenditure on
Read More

Brexit countdown exporters

The Brexit transition period is due to end on 31 December 2020 and this means that the process for
Read More

Brexit countdown importers

As we have reported previously, the UK government has confirmed that it will neither accept nor
Read More

Closing a limited company

There are a number of reasons why you may decide to close your limited company. This could be
Read More

New cashback scheme proposed

The government has announced plans to allow customers to get cashback from shops without needing to
Read More

Gaming behind the wheel?

Unbelievably, it has been illegal to make phone calls or text while driving a car, but not illegal
Read More

Students warned of tax scams

HMRC is warning new students starting university that they could be targeted by scammers trying to
Read More

New Freeports to cope with Brexit

The government is moving ahead with plans to build free trade zones - known as Freeports - across
Read More

The don’ts of the new 3-tier system

The new 3-tier system for classifying local COVID alert status sets out what you should not do
Read More

Levelling up or levelling down?

Our government has introduced a three-tier system for determining the local state of COVID
Read More

Job Support Scheme Expansion

On Friday 9 October, the Chancellor, Rishi Sunak announced an extension to the Job Support Scheme
Read More

Claiming the Job Retention Bonus

New guidance has been published on claiming the Job Retention Bonus. The Job Retention Bonus
Read More

Paying or refunding transport costs

To ease the financial burden on their employees, some employers may look at paying or refunding
Read More

COVID related benefits for employees

The Income Tax treatment of coronavirus tests and the provision of Personal Protective Equipment
Read More

Grants overclaimed?

Any business that has overclaimed a Coronavirus Job Retention Scheme (CJRS) grant must pay back the
Read More

31 October paper Self-Assessment filing deadline

The 2019-20 tax return deadline for submitting your paper Self-Assessment returns is 31 October
Read More

Extended deadline for VAT payments

The coronavirus VAT payment holiday gave businesses the chance to defer the payment of any VAT
Read More

PAYE settlement agreement payment reminder

A PAYE Settlement Agreement (PSA) allows employers to make one annual payment to cover all the tax
Read More

Employer eligibility for Job Support Scheme

Employers across the country have generally welcomed the announcement of the new Job Support Scheme
Read More

Employee eligibility for Job Support Scheme

The new Job Support Scheme will be introduced on 1 November 2020 as part of the government drive to
Read More

100 towns to share £80m

The Communities Secretary, Robert Jenrick, has announced that over 100 towns in England will each
Read More

New coronavirus-related measures impacting on the employment relationship

The government’s latest advice, as confirmed in the COVID-19 Secure guidelines for different types
Read More

Which way to go?

If your business has managed to negotiate the pandemic thus far without shedding staff you have
Read More

Acas, CBI and TUC on handling redundancies

Acas, the CBI and the TUC have issued a joint statement to employers on best practice for handling
Read More

Excuse v apology

We have all been in situations where we have received bad service. For example, you place an
Read More

The new Winter Economy Plan – Summary of Measures

The Chancellor, Rishi Sunak, has today delivered a statement to the House of Commons outlining
Read More

Venues required to record contact details

It has become a requirement for premises and venues across England to have a system in place to
Read More

VAT on compensation payments

HMRC has published a new Revenue and Customs Brief on the VAT treatment of early termination fees
Read More

Video-witnessed wills

The Ministry of Justice (MoJ) has confirmed that video witnessed wills in England and Wales will be
Read More

Working from home tax claim

If you do not receive compensation from your employer you can still claim tax relief for some
Read More

Companies with a 31 December year end

For companies with taxable profits of up to £1.5 million the payment of any Corporation Tax is due
Read More

Furlough Scheme changes September 2020

As our readers will no doubt be aware, the Coronavirus Job Retention Scheme (CJRS) is closing on 31
Read More

Green Homes Grants

A reminder that home owners and landlords can now access funding to help pay for the cost of energy
Read More

Cars – it’s all online

If you have access to the internet there are a bewildering number of online resources that you can
Read More

New grants for businesses affected by local lockdowns

New grant support was announced 9 September that offers businesses in areas subject to a local
Read More

Fast-tracking passport applications

Due to coronavirus disruption, it is currently taking up to six weeks to renew or replace a
Read More

Companies House has new bank account

Companies House has announced that they have new bank details effective from 1 September 2020. This
Read More

Kickstart program opens in Wales

Under the new £2 billion Kickstart scheme, employers will be able to offer young people on
Read More

English plastic bag charge to double

The single-use carrier bag charge came into effect in England on 5 October 2015. This introduced a
Read More

Which video conferencing software?

The process of choosing a video conference solution for your practice can be a little hit and miss
Read More

Witnessing wills remotely

A statutory instrument will be issued September 2020 that will legitimise the witnessing of wills
Read More

Refunds – guidance or law?

The Competition and Markets Authority (CMA) recently published further detail on its views on the
Read More

Changes to VAT partial exemption

HMRC has updated its guidance on the VAT partial exemption treatment relevant to businesses who
Read More

Kickstart scheme officially launched

The new £2 billion Kickstart scheme that was announced as part of the Summer Economic update by the
Read More

Tax and divorce

When a couple is in the process of becoming separated or divorced it is unlikely that they are
Read More

Lost your tax reference number?

Your unique taxpayer reference (UTR) is the primary identifier for tax purposes. The number is also
Read More

Government legal department numbers open to fraud

The Government Legal Departments (GLD) is warning that its general enquiry number (020 7210 8500)
Read More

Vehicles parked on pavements

An ongoing issue for motorists is the need to have two tyres on the pavement to avoid unduly
Read More

Travel to EU after 1 January 2021

A reminder, if one was needed, is that we seem to be heading for a no-deal Brexit from 1 January
Read More

Tax Diary September/October 2020

1 September 2020 - Due date for Corporation Tax due for the year ended 30 November 2019. 19
Read More

Redundancy factsheets for employers and employees

The government has published two factsheets on redundancy, one for employers and one for employees.
Read More

Access to Work scheme extended to working from home

The government has announced that disabled workers who are working from home during the coronavirus
Read More

Did you benefit from the Eat Out campaign?

The Eat Out to Help Out scheme to encourage the struggling restaurant sector was announced as part
Read More

Teenagers to get access to Child Trust Funds

Children born after 31 August 2002 and before 3 January 2011 were entitled to a Child Trust Fund
Read More

Problems booking a driving test?

The driving test online booking service reopened on Friday 21 August and then crashed due to the
Read More

COVID measures – tougher fines announced

The Home Office has announced tougher measures targeting the most serious breaches of social
Read More

Making staff redundanct – form HR1

The government has published an updated version of form HR1. Where an employer is proposing to make
Read More

New SSP regulations confirm increased minimum self-isolation period

Public Health England (PHE) has updated its guidance to increase the minimum self-isolation period
Read More

Green Homes Grant Scheme

One of the measures announced by the Chancellor, Rishi Sunak in his Summer Economic update on 8
Read More