Pandemic Archives | Taxfile

HMRC Waives Late Filing & Payment Penalty for 31st January Deadline

Taxfile — Mon, 10 Jan 2022 09:05:49 +0000

HMRC has taken the decision to not issue a late filing penalty for anyone who does not submit their self-assessment tax return before midnight on 31st January 2022. It is important to point out that the deadline for filing your 2020-21 tax return remains 31/01/22 but the waiving of the penalty allows anyone who is […]

The post HMRC Waives Late Filing & Payment Penalty for 31st January Deadline appeared first on Taxfile.

SEISS: The 5th & Final Round

Taxfile — Tue, 13 Jul 2021 08:53:03 +0000

HMRC has already started contacting possible eligible sole traders and partnerships for the 5th and final Self Employed Income Support Scheme grant announced by the Government last year. HMRC’s online access for applications is due to open later this month (July) and the grant will cover the period 1st May 2021 through to 30th September […]

The post SEISS: The 5th & Final Round appeared first on Taxfile.

Recovery Loan Scheme

Taxfile — Thu, 22 Apr 2021 12:59:06 +0000

The Bounce Back Loan Scheme (BBLS) application entries terminated on 31/03/2021 and now the government has introduced the Recovery Loan Scheme to finance UK businesses as they grow and recover from the disruption of the COVID-19 pandemic. The government guarantees 80% of the finance to the lenders, meaning the necessity of credit checks on the […]

The post Recovery Loan Scheme appeared first on Taxfile.

Furlough Scheme Extended until End of September

Taxfile — Wed, 03 Mar 2021 13:43:12 +0000

In The Chancellor’s 2021 budget speech it was announced that the furlough scheme would be extended until the end of September 2021, to protect the jobs and livelihoods of the UK population during the pandemic. The Government will pay employees 80% of the hours not worked through to the end of June 2021. As the […]

The post Furlough Scheme Extended until End of September appeared first on Taxfile.

Taxfile Partners with Local Government to Offer Self Assessment Assistance

Taxfile — Fri, 08 Jan 2021 10:14:52 +0000

With the self-assessment tax deadline looming in the midst of a global pandemic and no announcement of an extension from the government (28 days would do), 5.4m* taxpayers (45%) still needing to submit a tax return before the 31st January and many of those are left feeling hopeless and helpless, unsure how to complete it […]

The post Taxfile Partners with Local Government to Offer Self Assessment Assistance appeared first on Taxfile.

Self Assessment Income Tax Returns 2019/20 – COVID Edition

Taxfile — Wed, 25 Nov 2020 13:22:23 +0000

To date there has been no change on the deadline to submit and pay your 2019/20 Self Assessment Income Tax return by 31st January 2021. In preparation for our busiest period in the year we have been doing everything to ensure both our offices and business practices are ready to cope with the changes […]

The post Self Assessment Income Tax Returns 2019/20 – COVID Edition appeared first on Taxfile.

Bounce Back Loan Scheme Deadline Extended

Taxfile — Wed, 25 Nov 2020 11:56:39 +0000

[UPDATED FEBRUARY 2021] The Bounce Back Loan Scheme (BBLS) was an initiative struck up between the Government and banks to enable small businesses to access finances more quickly through the pandemic. It allowed businesses to have access to 25% of their 2018/19 turnover, with a minimum loan of £2,000 and a maximum amount of £50,000. […]

The post Bounce Back Loan Scheme Deadline Extended appeared first on Taxfile.

SEISS Grant – Round 3

Taxfile — Tue, 10 Nov 2020 15:32:31 +0000

Instead of constantly updating our original SEISS grant post we decided to create a new one as over the last month the government has chopped and changed the requirements, the dates, & the amount available due to the everchanging situation around the COVID-19 pandemic. The points that need to be highlighted for the third extension […]

The post SEISS Grant – Round 3 appeared first on Taxfile.

Self-Employment Income Support Scheme (SEISS) Deadlines and Extensions

Taxfile — Fri, 09 Oct 2020 10:31:39 +0000

The deadline for the 2nd SEISS grant looms, please apply before it is too late. The second SEISS grant is worth 70% of your average monthly trading profits, paid out in a single instalment covering 3 months’ worth of profits, and capped at £6,570 in total. If you’re eligible and your business has been adversely […]

The post Self-Employment Income Support Scheme (SEISS) Deadlines and Extensions appeared first on Taxfile.

Bounce Back Loans for Struggling Businesses: Ending 30 November!

Mark — Wed, 07 Oct 2020 14:32:19 +0000

If your small or medium-sized business has struggled due to adverse trading conditions caused by the pandemic, it may be eligible for a support loan through the Government's Bounce Back Loan Scheme ('BBLS'). However, time is running out — you only have until 4 November 2020* to arrange the loan with a lender. That's just a few weeks away at time of writing. There are some great features, so don't miss out if you need financial support ...

The post Bounce Back Loans for Struggling Businesses: Ending 30 November! appeared first on Taxfile.