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SMEs needing advice on imports and exports can apply for grants, HMRC confirms

Small and medium-sized enterprises (SMEs) requiring advice on imports and exports will be able to apply for a grant of up to £2,000, HMRC has confirmed.

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VAT Deferral New Payment Scheme – online service opens

Over half a million businesses who deferred VAT payments last year can now join the new online VAT Deferral New Payment Scheme to pay it in smaller monthly instalments, HMRC has announced today

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Domestic VAT reverse charge comes into effect on 1 March

The twice-delayed introduction of the domestic VAT reverse charge for construction services will come into effect on 1 March 2021.

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Chancellor urged to outline economic recovery plans in upcoming Budget

The Institute for Fiscal Studies (IFS) has urged Chancellor Rishi Sunak to use the upcoming Budget to set out plans for an economic recovery from the coronavirus (COVID-19) pandemic.

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HMRC clarifies off-payroll working compliance rules

HMRC has published a briefing on its approach to the changes to off-payroll working rules, commonly known as IR35

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Vaccination programme set to boost economic recovery

The UK's coronavirus (COVID-19) vaccination programme will help the UK economy rebound strongly this year, according to the Bank of England (BoE).

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£1000 Cash Boost for Employers hiring trainees

Employers can now apply for a £1,000 cash boost to help them take on new trainees, the government has announced.

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Month-long pause in Companies House strike-off process

Companies House is to pause voluntary and compulsory strike-off processes for one month to tackle a backlog

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VAT Construction Reverse Charge-are you prepared for the change?

New rules governing how VAT registered traders within the Construction Industry Scheme account for VAT will come into force on 1st March 2021

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One in three blocked from paying with cash during pandemic

Over a third of UK consumers have been blocked from paying for goods with cash during the coronavirus (COVID-19) pandemic

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SME payment terms slashed to 30 days

Under reforms to the Prompt Payment Code (PPC), the required payment period for larger suppliers to small businesses is to be halved to 30 days, with commitments to be made personally by CEOs or finance directors

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Legal win for SMEs on Covid-19 insurance pay-outs

Tens of thousands of SMEs forced to close during the first lockdown are in line for insurance pay-outs, after the FCA won a test case set to cost insurers over £1bn in claims

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COVID-19 is reasonable excuse for self assessment late filing, says HMRC

HMRC says it will accept coronavirus (COVID-19) as a reasonable excuse for the late filing of self assessment tax returns

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Monthly deadline approaching for furlough claims

HMRC has reminded employers that there are now monthly deadlines for claims for furloughed staff under the Coronavirus Job Retention Scheme (CJRS).

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Pandemic drives dramatic increase in SME borrowing

Gross lending to small and medium-sized enterprises (SMEs) in the first three quarters of 2020 reached £54 billion driven by coronavirus (COVID-19) loan schemes

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£4.6 billion in new lockdown grants to support businesses and protect jobs

Businesses in the retail, hospitality and leisure sectors are to receive a one-off grant worth up to £9,000, the Chancellor has announced.

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Lenders still supporting thousands with payment deferrals

The UK's banks and financial lenders continue to support tens of thousands of borrowers with payment deferrals

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Businesses have ‘insufficient information’ on Brexit changes

The British Chambers of Commerce (BCC) has suggested that businesses lack detailed official information on the rules that are set to take effect once the Brexit transitional period ends on 31 December.

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Tougher criteria for third SEISS grant

Applications will open on 30 November for the third grant available of the self employment income support scheme (SEISS)

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HMRC begins ‘Eat Out to Help Out’ compliance checks

HMRC has started writing to 4,000 businesses in the hospitality sector requesting them to verify their claims made under the government's Eat Out to Help Out scheme

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