Blog

Keep up to date with the latest news and updates on accounting, tax and business.

HMRC’s April interest rate cut

HMRC’s April interest rate cut

HMRC’s official rate of interest has been cut from 2.25% to 2% from 6 April 2021. This will affect any directors or employees who have a beneficial loan from their employer, as well as directors who have an overdrawn current account with their company. The official...

VAT cut extended until March

VAT cut extended until March

The temporary reduced standard VAT rate of 5% for the tourism and hospitality sector was due to end on 12 January, but has now been extended to 31 March 2021. With Covid-19 restrictions continuing for the foreseeable future, this winter is likely to be quite...

Business Bounce Back Loans

Business Bounce Back Loans

The application date for the Bounce Back Loan Scheme (BBLS) has now been extended to 30 November, and the loan repayment process made more flexible. To date, the BBLS has provided more than a million loans between £2,000 and £50,000 to businesses affected by the...

Another Autumn Budget deferred

Another Autumn Budget deferred

After heavy hinting from the Treasury for some weeks, the expected Autumn Budget has been pushed into spring 2021, with tax rises on the cards. Since the March Budget and through to August, the expectation was that the Chancellor, Rishi Sunak, would introduce his...

Rise in Tax scams

Rise in Tax scams

Given the amount of Covid-19 financial assistance available, it comes as no surprise that there is an increase in HMRC-related scams this year. What is worrying is that scammers have become more sophisticated; it is no longer a matter of  simply ignoring emails...

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