seiss Archives - WRLO Accountants

May 2022

WRLO Accountants — Mon, 09 May 2022 13:24:00 +0000

In this month’s Enews we consider the latest news on COVID grants for the self-employed. We also update you with the government’s energy strategy and plans to regulate cryptocurrency. With guidance on tax avoidance and the government’s one-stop shop for tax relief, there is a lot to update you on. HMRC starts chasing up SEISS overpayments UK government unveils energy strategy Treasury announces it will regulate some forms of cryptocurrency HMRC names avoidance scheme promoters for first time New HMRC one-stop online shop provides taxpayers with tax relief information Export growth is ‘stagnant’, BCC finds Latest guidance for employers Government inaction on long COVID could cost billions HMRC starts chasing up SEISS overpayments HMRC has started to recover overpayments of Self-employment Income Support Scheme (SEISS) grants. From April, HMRC is writing to taxpayers whose entitlement to the fourth or the fifth SEISS grant has reduced by more than £100 to ask them to repay amounts that were overpaid. Entitlement to the fourth and fifth SEISS grants can be affected by an amendment to a tax return. HMRC’s letters include an assessment and a date by which you must make the repayment. If the payment is over 30 days late, a […]

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June 2021

WRLO Accountants — Tue, 08 Jun 2021 08:44:47 +0000

In this month’s Enews we consider the roll out of the fifth SEISS grant; the imminent closure of HMRC’s payment scheme for businesses that deferred VAT payments last year; and the announcement of National Insurance reliefs for employers setting up in Freeport economic zones. With guidance on the Plastic Packaging Tax, the Trade credit insurance scheme, the deadline for forms P11D and the latest advisory fuel rates, there is a lot to update you on. Fifth SEISS grant will be open to claims from late July HMRC’s VAT Deferral New Payment Scheme to close this month NIC reliefs set for Freeports Government confirms start date for Plastic Packaging Tax Effectiveness of OTS set to be reviewed by Treasury Trade credit insurance scheme to close Advisory fuel rates for company cars Forms P11D – reporting employee benefits Fifth SEISS grant will be open to claims from late July HMRC has confirmed that the fifth Self-employment Income Support Scheme (SEISS) grant covering the period May 2021 to September 2021 will open to claims from late July. To be eligible for the grant, an individual must be self-employed or a member of a partnership. They must have traded in the tax year 2019/20 […]

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May 2021

WRLO Accountants — Tue, 04 May 2021 17:24:35 +0000

In this month’s Enews we consider the opening of the latest SEISS grant to applicants, the launch of the government’s latest loan scheme aimed at supporting COVID-hit businesses and the introduction of state-backed 95% mortgages for first-time buyers. With guidance on tax relief for home workers, a call for the extension of the Kickstart scheme and pension fraud increases there is a lot to update you on. Fourth self-employed grant now open for online applications Recovery Loan Scheme opens to businesses Recent changes to IR35 ‘undermine the self-employed’, says IPSE CBI calls for extension of Kickstart Scheme as jobs market remains subdued New 95% mortgage scheme launched New claims required for home working tax relief HMRC sets out penalty regime for SEISS abuse Pension fraud increased to £1.8 million in first quarter of 2021 Fourth self-employed grant now open for online applications On 21 April, the online service for applications for the fourth Self-employment Income Support Scheme (SEISS) grant was opened for claims, HMRC confirmed. All applications must be submitted by the individual self-employed worker and cannot be handled by accountants or tax advisers. The fourth grant will be 80% of three months’ average trading profits, to be claimed from […]

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