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Category Archives: HMRC

By | August 28, 2020

Company Accounts: Extension to filing deadlines

Companies whose filing deadline falls between 27 June 2020 and 5 April 2021 (inclusive) and who have not shortened their accounting period, the Regulations extend their filing deadline by 3 months. This extends filing deadlines to twelve months after...

By | August 13, 2020

Applying for the second SEISS grant

Applications for the second grant will open from 17 August. HMRC will work out your eligibility the same way as the first grant. If you make a claim for the second grant, you will have to confirm your business...

By | July 29, 2020

Deferring July SA payment on account

You have the option to defer your second payment on account if you are registered in the UK for Self-Assessment and finding it difficult to make your second payment on account by 31 July 2020 due to the impact...

By | July 27, 2020

Class 2 NIC – Are your State Pension & Benefits Protected?

HMRC started to collect Class 2 NICs through self-assessment from 5th April 2016. However, this change has led to cases where NICs have not been collected Taxpayers may not become aware of the importance of paying Class 2 NICs...

By | June 26, 2020

Missed VAT deferral may be able to claim refund

HMRC has confirmed that where taxpayers wanted to defer VAT payments due between 20 March 2020 and 30 June 2020, but did not manage to cancel their Direct Debit in time they can claim a refund The quickest way for taxpayers...

By | June 26, 2020

HMRC compliance activity on MTD for VAT

HMRC is restarting communications to businesses that it thinks should have signed up to Making Tax Digital (MTD) for VAT but have not done so. It is now contacting those businesses ahead of ramping up its compliance activity in...

By | June 26, 2020

PAYE tax calculations start to land

HMRC has started to issue annual PAYE tax calculations for 2019/20, prioritising cases where a refund is due. It is important to check the calculations and request a repayment Anyone receiving a calculation should check it carefully as, historically,...

By | June 26, 2020

Class 2 NIC collection issues remain unresolved

HMRC started to collect Class 2 NICs through self-assessment from the 2015/16 tax year. However, implementing this change has been fraught with problems and correcting cases where NICs have not been collected resulting in unnecessary administration and costs for...

By | June 26, 2020

Error in tax credit renewal packs

HMRC is writing to one million tax credit claimants whose renewal packs omitted some information, as ICAEW urges self-employed claimants to check whether they need to contact HMRC by 31 July HMRC has confirmed that around one million tax...