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Business rates relief extended with £1.5 billion fund

A new Business Rates relief fund of £1.5 billion for businesses affected by COVID-19 outside the retail, hospitality, and leisure sectors has been announced

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HMRC- what do they know?

The information available to HMRC has never been as comprehensive or as accessible. Our lives now laid out on social media for all to see means HMRC view of our lifestyle spending habits cannot be hidden.

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Extend Kickstart Scheme by six months, urges CBI

The government should extend the Kickstart Scheme application deadline until June 2022, the Confederation of British Industry (CBI) has stated.

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Electric vehicle grants cut to £2,500

The government has cut the plug-in car, van and truck grant by £500 to £2,500 claiming it will broaden the range of electric vehicles qualifying for the scheme

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UK economy shrank in January, data reveals

The UK economy shrank by 2.9% in January as the third coronavirus (COVID-19) lockdown took its toll and Brexit hit exports, according to the latest figures from the Office for National Statistics (ONS).

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£20 million SME Brexit Support Fund open for applications

The UK government has unveiled a £20 million Brexit support package to help small and medium-sized enterprises (SMEs) with changes to trade rules with the EU.

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Tax-free childcare bonus of up to £500 not being claimed

Families using tax-free childcare accounts to pay for their childcare costs could receive a government top-up worth up to £500 every three months, but thousands are missing out on the pay-out, HMRC warns

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COVID-19 vaccines and stimulus plans will aid global growth, says OECD

The Organisation for Economic Co-operation and Development (OECD) has upgraded its forecasts for global and British economic growth this year and next.

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Details of fourth grant for the self-employed published

HMRC has published details of the eligibility criteria for the fourth grant under the coronavirus (COVID-19) Self-employment Income Support Scheme (SEISS)

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HMRC advisory fuel rates for company car users from 1 March (1)

HMRC has published the latest advisory fuel rates (AFR) for company car users, effective from 1 March 2021, increasing mileage rates for 1400-2000cc petrol vehicles by 1p per mile

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File tax returns now to prevent penalties

Self Assessment taxpayers have less than one week to submit their late tax returns to prevent a £100 penalty, HM Revenue and Customs (HMRC) has urged.

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HMRC temporarily waives late payment penalties

Self assessment taxpayers will not be charged a 5% late payment penalty if they pay their tax or set up a payment plan by 1 April, HMRC has announced

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Covid VAT deferral payment guidance updated

HMRC has updated guidance on how to register for the online service to pay VAT payments deferred between 20 March and 30 June 2020 due to the covid-19 pandemic

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Almost a third of house sales fall through as stamp duty deadline nears

Almost a third of house sales fell through in January as the end of the stamp duty holiday drew closer, according to a report from Rightmove.

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Bounce Back Loan repayment terms extended to 10 years

Businesses that took out government-backed Bounce Back Loans to get through Covid-19 will now have greater flexibility to repay their loans

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10.7 million tax returns filed by 31 January deadline

More than 10.7 million people submitted their 2019/20 Self Assessment tax returns by the 31 January deadline, HM Revenue and Customs (HMRC) has revealed

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HMRC to waive self assessment penalties for one month

Self Assessment customers will not receive a penalty for their late online tax return if they file by 28 February

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High income child benefit charge hits basic rate taxpayers

The Low Incomes Tax Reform Group (LITRG) is calling for the high income child benefit charge (HICBC) threshold to rise to avoid it hitting basic-rate taxpayers for the first time in April

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HMRC penalties double in six months

The value of penalties HMRC is imposing on taxpayers each month shot up in the last six months, following the lull in compliance activities during the first lockdown.

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Capital gains tax changes self assessment taxpayers need to know

HMRC is reminding taxpayers that they have until 31 January 2021 to declare any profit made from selling a UK residential property, which was not their main home

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