Jul 6, 2021 | Blog, Cashflow Management, Funding, HMRC, Small business, YFT News
Launched back in May last year, the government’s Bounce Back Loan scheme was designed as a temporary, emergency measure to financially support businesses during the coronavirus outbreak. The loans are 100% state backed with no repayments or interest due in the first...
Sep 24, 2018 | Business Strategy, HMRC, Tax
Making Tax Digital or MTD is one of the furthest reaching HMRC initiatives of the past 20 years, which makes it all the more surprising that a recent British Chamber of Commerce survey discovered that nearly a quarter of British businesses surveyed had no knowledge...
Jan 30, 2018 | Blog, HMRC, self assessment, Small business, Tax
A move from fines to points system A move to a points system rather than fines from 2019 is being proposed. This is in an attempt to focus Treasury attention on serious tax avoidance offences. Rather than on punishing small taxpayers who’ve made mistakes. The present...
Jan 23, 2018 | Blog, HMRC, self assessment, Small business, Tax
HMRC cease to accept payments via credit cards In a surprisingly timed announcement, HMRC said that they would cease to accept credit card payments for tax bills from 13 January 2018. Those who previously paid their self assessment by this means will now have to...
Dec 14, 2017 | Blog, entrepreneurs, HMRC, Small business, Tax
Entrepreneur’s Relief Since April 2008, Entrepreneur’s Relief (ER) has been one of the best kept secrets of British business life. Perhaps the way that successive governments have handled Entrepreneur’s Relief explains why this excellent scheme is not as well...
Jun 23, 2017 | Blog, FRS, HMRC, Small business, Tax, VAT
Changes to Flat Rate VAT Scheme – just another headache for small business!! HMRC changed the Flat Rate VAT Scheme on 1st April 2017. The changes are already affecting small business owners and contractors who operate under the flat rate scheme (FRS). Many of those...