News
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Consultations on future of Companies House could see filing deadlines slashed
A set of consultations on the future of Companies House published in December 2020, include proposals for mandatory digital filing, requirements to tag accountants digitally with IXBRL and shortening filing deadlines to three months for public companies and six months for private companies. The Department for Business and Industrial Strategy (BEIS) is also seeking feedback… Read more
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Voluntary and compulsory strike-off processes paused in response to national lockdown
Companies House will pause both the voluntary and compulsory strike-off processes for one month from 21 January until 21 February to support businesses affected by COVID-19, it has been announced. The extended measure comes in response to delays to the system caused by the third national lockdown. In a notice to customers, Companies House said… Read more
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Don’t forget to claim home working tax relief
Due to the ongoing restrictions of the Government’s Coronavirus response, millions of UK workers continue to work from home. Many may not be aware that they can claim tax relief for additional household costs if they are required to work from home regularly, either for all or part of the week. This tax relief is… Read more
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Large and medium-sized businesses need to be ready for IR35
Large and medium-sized businesses now just have a couple of months left to prepare for the changes to the off-payroll working rules (IR35). From 6 April 2021, in most cases, the engager (employer) will be responsible for deciding whether to deduct tax and National Insurance Contribution (NICs) from freelancers and contractors, operating via a Personal… Read more
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The VAT Reverse Charge for the Construction Industry Scheme – Are you ready?
From 1 March 2021, businesses within the Construction Industry Scheme (CIS) must record, report and pay VAT under the new VAT domestic reverse charge rules. This change affects both contractors and subcontractors and the supply of certain kinds of construction services in the UK. Under the new rules, VAT registered subcontractors who provide a service… Read more
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Basic rate taxpayers could face ‘high income’ child benefit charge
Due to a mismatch of earnings thresholds, basic rate taxpayers may unexpectedly come under the scope of the High Income Child Benefit Charge in April. The Low Incomes Tax Reform Group (LITRG) has issued a warning to families that they may be subject to a tax charge when claiming Child Benefit due to a discrepancy… Read more