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Annual Investment Allowance £1m cap extended to 2022

The Treasury has confirmed that the annual investment allowance (AIA), designed to stimulate investment in UK manufacturing, is to be extended further for an additional year

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HMRC announces covid fraud arrests

Arrests have been made over alleged fraud related to coronavirus support schemes, as HMRC ramps up enforcement action

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More Covid support for self employed

As tighter lockdown restrictions come into force, the government has said it will increase its financial support to the self employed

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HMRC: Don’t forget the Self Assessment deadline

HMRC is reminding self assessment taxpayers to complete their tax return ahead of the deadline on 31 January 2021.

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How can you reward your staff this Christmas?

Employers may wish to look at alternatives for thanking their staff, especially in this of all years, for their hard work. So, what can be done instead?

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Chancellor announces extra Tier 2 Support

In the face of mounting concerns about the disparity in help available, Chancellor Rishi Sunak has announced changes to the government’s coronavirus job support scheme

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HMRC urges businesses to ensure they are ready for new customs and tax rules

HMRC has urged businesses to make sure they are prepared for new customs and tax rules so that they can continue to trade with the EU from 1 January 2021.

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Covid fraud hotline opens

A new hotline has been launched to report Covid fraudsters who make illegal claims for support

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Tax rises ‘inevitable’, says IFS

The Institute for Fiscal Studies (IFS) has suggested that the UK will require tax rises of £40 billion or more per year during the middle years of this decade to stop debt spiralling upwards

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Working patterns permanently changed by Coronavirus

Most office workers will not return to their workplaces five days a week even after the coronavirus (COVID-19) pandemic is over

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Covid-19: guidance on furlough job retention bonus

HMRC has published guidance on how businesses can claim the government’s £1,000 job retention bonus

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Retirement plans altered by pandemic

The COVID-19 pandemic has changed the retirement plans of one in eight older workers

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Business groups call for more support following new restrictions

The government should waste no time in setting out a comprehensive support package for firms forced to close or reduce capacity through no fault of their own

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£500 self isolation payments for lower income employees

The government has announced a legal requirement on people to self-isolate when instructed by NHS Test and Trace, with fines for those who fail to do so and for any businesses which threaten self-isolating staff with redundancy

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HMRC urges VAT-registered businesses to prepare for Brexit trading changes

HMRC has written to VAT-registered businesses that trade with the EU outlining how they should prepare for Brexit trading changes set to take effect from 2021.

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Call to extend Covid-19 insolvency protection

The government should extend emergency Covid-19 insolvency measures or risk seeing a raft of company collapses and job losses later this year

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£20m advice support for SMEs to recover from Covid-19

The government has announced £20m of funding to help smaller businesses to recover from the Covid-19 pandemic

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HMRC targets 3,000 employers over CJRS claims

HMRC has written to 3,000 employers as part of its risk assessment and compliance activity over claims made to cover the wages of furloughed staff

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Bounce Back loans average 87,000 approvals a week since launch

Lenders have approved an average of 87,000 Bounce Back loans every week since the scheme was launched on 4 May, according to the latest figures from the Treasury.

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HMRC outlines changes to VAT treatment of imported goods

From 1 January 2021, VAT on imported goods with a value of up to £135 will be collected at the point of sale as opposed to the point of importation.

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