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HMRC has revealed that more than one million taxpayers filed their late tax returns in February – taking advantage of the extra time to complete their self-assessment without facing a penalty. About 12.2 million taxpayers were expected to file a return for the 2020/21...

The government must overhaul motoring taxes as it phases out new diesel and petrol vehicles, according to MPs. MPs on the Transport Committee say the government must come up with new policy options by the end of the year. A ban on the sale of new diesel and petrol...

Following the decision by the Bank of England to increase the base rate, HMRC has confirmed that the late payment interest rate rose a quarter of a percent. The increase applies from 14 February 2022 for quarterly instalment payments and from 21 February 2022 for...

A partnership agreement to establish two green freeports in Scotland has been reached between the Scottish and UK governments. The locations for the freeports have not yet been decided and there will be an application process with a view to setting up the freeports in...

Businesses are being encouraged to apply for remaining coronavirus (COVID-19) grant funding from local authorities. Hospitality, leisure and accommodation businesses can still apply for one-off cash grants of up to £6,000 through the Omicron Hospitality and Leisure...

The Statutory Sick Pay Rebate Scheme (SSPRS) has closed as of 17‌‌‌ ‌March‌‌‌ ‌2022. The SSPRS was reintroduced by the government on 21 December 2021 for employers with fewer than 250 employees. The maximum claim per employee is two weeks at the statutory sick pay...

The Chancellor must act at the Spring Statement or risk the UK economy drifting backwards to low growth, warns the Confederation of British Industry (CBI). The Spring Statement will take place on 23 March 2022. The CBI has set out a range of policies it says are aimed...

Digital software The Government have implemented a scheme to help small and medium-sized UK businesses buy and adopt digital technologies to improve productivity. The Help to Grow: Digital website provides all businesses with free and impartial information and support...

Requirements for VAT recovery If you are considering purchasing a car for business purposes and recovering the input VAT, it is important to consider the requirements and to ensure you are meeting HMRC’s conditions. The two main conditions which must be met are: The...

Are you prepared? It is just under a month until the end of the tax year, and so it would be prudent to start considering your tax planning. Please see below for our handy list of tips which can guide you to ensure you are making the most of your money and saving on...

North West based accountants and tax advisors Williamson & Croft are pleased to announce the promotion of Chris Watson to Tax Partner. Chris has been with the company since July 2020 as Tax Director and has become an invaluable member of the team. He has over 10...

What are the new rules? The UK government has set out plans to reform governance at Companies House to stop manipulation of the service, particularly in the use of anonymous or fraudulent shell companies and partnerships. Companies House is planning to ‘change its...