September 2019

Government’s insolvency priorities switch ‘will harm UK economy’

Government plans to prioritise payments of debt to HMRC over repayments to other creditors in insolvency cases have been slammed by leading industry figures, who say the move “will have serious consequences for the UK economy”. In a letter to Chancellor Sajid Javid, signed by among others representatives from R3, ACCA, ICAS, ICAEW and the Insolvency Practitioners Association, the government

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£16m boost to support thousands more customs experts

Thousands of customs experts will be trained and businesses supported for trading post-Brexit in a new £16 million government scheme, the Government has said. The funding is now available to help businesses train staff in making customs declarations, and to help businesses who support others to trade goods to invest in IT. Customs agents currently help businesses who trade outside

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Getting ready for Brexit – update

The Government has said the UK will be leaving the EU on 31 October. Leaving the EU without a deal means there will be immediate changes to the way UK businesses trade with the EU that may impact your business, your clients’ businesses or the business you work for. HMRC has started writing to VAT registered business to let them

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Making Tax Digital VAT service progress update

HMRC has provided a further update on the rollout of Making Tax Digital (MTD) for VAT. Below are the headlines of recent weeks and information on what is planned for the coming weeks. As August drew to a close over a million VAT businesses had signed up to MTD and submissions for the first time exceeded the number of sign-ups.

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HMRC – Brexit Agent Update

HMRC’s Agent Update – Brexit Edition is now available, it features: Brexit communications resources grants for businesses completing customs declarations HMRC Brexit webinars changes for UK employers sending workers to the EU, the EEA or Switzerland Transitional Simplified Procedures merchandise in baggage claims for VAT on business expenses after Brexit To view this edition please click here.

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Scheduled maintenance to the Making Tax Digital Service

HMRC will be undertaking scheduled maintenance to the Making Tax Digital (MTD) VAT service from Saturday 21 September at 16:00 until Monday 23 September at 16:00, during which time the MTD service for VAT will be closed. During this period, customers and their agents will be unable to: Sign up for Making Tax Digital for VAT, Create an Agent services account

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HMRC – Getting ready for Brexit

Leaving the EU on 31 Oc‌to‌be‌r 2019 means there will be immediate changes to the way UK businesses trade with the EU that may impact your business. This includes UK businesses having to apply customs, excise and VAT procedures to trade with the EU, in the same way that already applies for goods and services traded outside the EU. Customs intermediaries

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NatWest banking on your voice

NatWest has teamed up with Google to allow customers to ask a home smart speaker for details about their bank accounts. In a three-month trial, some 500 customers will be able to check balances and ask about their recent transactions. NatWest said that the new voice assistant capabilities could also be extremely helpful for visually-impaired customers. In order to use

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Self-employed owed £1.6bn in late tax payments last year

Self-employed individuals owed £1.6bn in late tax payments to HMRC last year, with the figure expected to rise even further once more self-assessment returns for 2017/18 have been submitted. The value of tax owed by those who have missed the payment deadline has been rising for the last three years, according to UHY Hacker Young. The figure rose 4% to

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