Proposed R&D cap for SMEs published

On 12 November 2020, the details of the proposed Small and Medium-sized Enterprise (SME) Cap, which is due to come into effect on 1 April 2021, was published.

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ICAEW “questions” pension tax relief proposals

The Institute of Chartered Accountants in England and Wales (ICAEW) has raised concerns over proposals to alter the level of tax relief on pensions contributions for low-earners, arguing that any changes could burden businesses.

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UK Export Finance scheme extended to more than 100 overseas territories

The Government’s UK Export Finance (UKEF) scheme has now been extended to support international trade in more than 100 countries, it has been announced.

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Self-Assessment: HMRC announces new ‘enhanced payment plans’ for self-employed

From 1 October 2020, individuals who complete Self-Assessment tax returns will now be able to divide their tax bill into monthly instalments, without speaking to an HM Revenue and Customs (HMRC) adviser first.

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Time to Pay threshold increased to £30,000

From this week, Self Assessment customers affected by Covid-19 can apply online to spread the cost of their tax bill into affordable monthly payments.

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Commercial property: Retail rental arrears could rise to £2 billion after third-quarter payment deadline

According to research, retail rent arrears could total over £2 billion following the third-quarter payment deadline this week.  

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SMEs are still chasing unpaid invoices

The disruption of business, due to the coronavirus pandemic, has meant many companies are still waiting on unpaid invoices from their debtors.

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Businesses return £215 million furlough payments to the Government

According to HM Revenue and Customs (HMRC), more than £215 million of Coronavirus Job Retention Scheme (CJRS) payments have been willingly returned to the Government by UK firms, out of £35.4 billion worth of claims up until 16 August.

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Coronavirus Job Retention Scheme rejects claims after employer accounting errors

The Institute of Chartered Accountants in England and Wales (ICAEW) has warned businesses to get “their data right” or face delays receiving grants under the Coronavirus Job Retention Scheme (CJRS).

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Government urged to ensure young people gain access to the Child Trust Fund

The Government is being urged to ensure that young people gain access to the Child Trust Fund, which was set up by the Government in 2005 to provide young adults with a nest-egg.

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COVID-19: The key dates for your tax diary

There are a number of Government support measures to help businesses through the coronavirus pandemic, as well as various business tax obligations being deferred. However, it can be difficult to keep track of all of the dates, deadlines and requirements,

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COVID-19: UK businesses owed more than £133 billion since lockdown began

UK businesses are owed more than £133 billion since the lockdown measures began in March, with the average business waiting on £148,917 for work that was completed before the lockdown.

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New Corporate Insolvency and Governance Bill to extend accounting deadlines

The new Corporate Insolvency and Governance Bill will help maximise your business’ chance of survival throughout the coronavirus pandemic, it has been suggested.

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COVID-19: The impact on company car benefit in kind

Due to the coronavirus pandemic, many people in the UK are now working from home or have been placed on furlough leave, meaning that they are not using their employer-provided company car. But what is the impact on the benefit

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Employers should continue to meet automatic enrolment obligations despite coronavirus disruption, says TPR

Employers should continue to enrol, re-enrol and contribute towards workers’ pensions whether they are furloughed or not, The Pensions Regulator (TPR) has confirmed.

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