One of the important changes is Rules of Origin. Rules of Origin concerns where a product was manufactured and determines the ‘economic nationality’ of a good for international trade. Businesses need to know about them because the Trade and Cooperation Agreement means they can trade with the EU without paying tariffs – but only if… Continue reading Rules of Origin: New Rules for Trading with the EU
Month: January 2021
Employers who have claimed through the CJRS
Monthly data on claims made by employers through the Coronavirus Job Retention Scheme is now available for December https://www.gov.uk/government/publications/employers-who-have-claimed-through-the-coronavirus-job-retention-scheme From February HMRC will also publish the following information: an indication of the value of the claim within a banded range the company number – for companies and Limited Liability Partnerships The banded ranges are: £1… Continue reading Employers who have claimed through the CJRS
Self-Employment Income Support Scheme (SEISS)
The deadline for claiming the third SEISS grant is fast approaching. If you are eligible, you must make your claim on or before 29 January 2021. As with the first and second SEISS grants, the third grant will be subject to Income Tax and self-employed National Insurance and must also be reported on your 2020-21 Self… Continue reading Self-Employment Income Support Scheme (SEISS)
New Customs Rules; Moving Goods
New customs and tax rules for trading with the EU started on 1 January 2021. To continue trading with countries in the EU, there are actions you must take, to make sure you’re compliant and minimise costs and delays. Before you attempt to move your goods, you’ll need to: Get ready to make customs declarations,… Continue reading New Customs Rules; Moving Goods
31st January – Self Assessment Tax Return Deadline
HM Revenue and Customs (HMRC) must receive your tax return and any money you owe by the deadline of 31st January 2021 for the tax year that started on 6 April 2019 and ended on 5 April 2020. It is the 20th anniversary of Self Assessment internet filing, the service began on 3 July 2000… Continue reading 31st January – Self Assessment Tax Return Deadline
What Is an EORI Number, Why Do I Need One
New rules for businesses that trade with Europe have arrived. This means that since 1 January 2021, all businesses that move goods between Great Britain and countries in the EU, or under the Northern Ireland Protocol, need to follow new customs and tax rules. What is an EORI number, and why do I need one?… Continue reading What Is an EORI Number, Why Do I Need One
CJRS: How to Claim, When to Claim and Information Published
How to claim You’ll need the Government Gateway user ID and password you got when you registered for PAYE online. You can claim before, during or after you process your payroll as long as your claim is submitted by the relevant claim deadline. You cannot submit your claim more than 14 days before your claim… Continue reading CJRS: How to Claim, When to Claim and Information Published
Treatment of Expenses and Benefits Provided to Employees During Covid-19 Pandemic
HMRC have updated their guidance, explaining how to treat certain expenses and benefits provided to employees during coronavirus (COVID-19) Find out about taxable expenses and benefits when they are paid to employees because of coronavirus and how to report them to HMRC Coronavirus (COVID-19) tests Personal Protective Equipment (PPE) Living accommodation Volunteer fuel and mileage… Continue reading Treatment of Expenses and Benefits Provided to Employees During Covid-19 Pandemic
Are You Prepared for Changes in How You Do Business With the EU?
Act now to keep your business moving in 2021 Business Minister, Paul Scully MP, has urged businesses who have not yet taken steps to prepare for the UK’s new start since we left the EU’s Customs Union and single Market, to take action now. In his message to business, the Minister highlights six key actions that many firms need to take. They are: Goods – if you import or export goods… Continue reading Are You Prepared for Changes in How You Do Business With the EU?
Launch of Brexit Toolkit for Small Businesses
Doing business with Europe has changed. You need to follow new rules on things such as exports, imports, tariffs, data and hiring We are thrilled to launch our Brexit Toolkit for small businesses to help you navigate to the right place for the information that you need