Due to COVID-19, HMRC introduced a ‘soft landing approach’ and did not issue late penalties for any transactions completed between 6 April 2020 and 30 June 2020, provided the gain was reported and any tax due paid by 31 July 2020. From the 1 July 2020 onwards, a seller has 30 calendar days to report […]
Category Archives: Blog
26
Aug
Aug
Last year HMRC imposed a significant number of penalties on taxpayers for failing to get their tax returns correct. The most serious type of penalty is for ‘deliberate errors’ and the fine for this is between 20% to 100% of the tax underpaid. The other type of tax error is a ‘careless error’ and here […]
HMRC have just released a bit more information on what we can expect in the early part of next year. Job Retention Bonus Employers will be able to claim a one-off payment of £1,000 for every employee they have previously received a grant for under the Coronavirus Job Retention Scheme (CJRS) and who remains continuously […]