Taxpayers could face fines totalling to £250 million.
Current Affairs
Big businesses to reduce payment times to small suppliers
50,000 small firms close every year due to late payments.
Govt. reveals over 1.4m loans given to UK firms
The loans are part of the £280bn support package.
Small firms get COVID-19 insurance boost
Around £1.8bn is expected to be paid out in claims.
BCC calls for business rates relief extension
Govt. should ‘extend relief for the whole of 2021’.
£69.1m deferred through time-to-pay scheme
Over 25,000 taxpayers rush to spread payments.
DWP bans flat fees for small pension pots
Charge cap will remain unchanged at 0.75%.
ICAEW calls for further guidance on CIS changes
Changes are set to take effect from April 2021.
COVID-19 deemed ‘reasonable excuse’ for late filing
HMRC said the decision is not a blanket waiving of penalties.
250,000 small business ‘set to fold’
14% expect to reduce headcount in the next three months.
HMRC issues 2019/20 tax returns reminder
45% of self-assessment taxpayers yet to file.
IPSE slams gaps in self-employed support
Latest COVID-19 support ‘misses the mark’.
Firms raise concerns over lockdown support
Measures include a one-off grant worth up to £9,000.
Chancellor unveils £4.6bn support package
Firms will be able to receive up to £9,000.
2,700 tax returns filed on Christmas Day
The 2019/20 self-assessment deadline is 31 January 2021.
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