COVID-19 Archives | Taxfile

Taxfile’s Autumn Newsletter 2021

Mark — Thu, 30 Sep 2021 10:14:00 +0000

Welcome to Taxfile’s Autumn Newsletter for 2021. One of our biggest yet, it includes useful tax- and accountancy-related news that you need to be aware of, ways to save time or money – and much more. Take a look!

QR Codes

You’ll find QR codes throughout the newsletter. These are a quick and easy way to access further information about the topic. Assuming you are viewing the newsletter on a desktop device or a printed* version, simply point your mobile camera phone at a QR code and then open the link that pops up. Your mobile’s browser will then take you straight to the information page. Alternatively, we supply simple link URLs to simply tap in.

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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 […]

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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 […]

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Restart Grant NOW Available to Eligible Businesses

Taxfile — Thu, 22 Apr 2021 10:46:30 +0000

The Restart Grant scheme supports businesses in reopening safely as COVID-19 restrictions are lifted. Grants are available from 1 April 2021. To be eligible, your business must be in the non-essential retail sector and you may be entitled to a one-off cash grant of up to £6,000 from your local borough. Eligible businesses in the hospitality, […]

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4th SEISS Grant Available THIS Week

Taxfile — Thu, 22 Apr 2021 10:19:28 +0000

If you are self-employed or a member of a partnership and have been impacted by coronavirus (COVID-19), the 4th Self-Employment Income Support Scheme (SEISS) grant will be available to those eligible from this week (w/c 19 April 2021), and the online service for the fourth SEISS grant is now online HERE The grant covers the […]

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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 […]

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Bounce Back Loan Applications & Top-Ups ENDING

Taxfile — Mon, 01 Mar 2021 13:51:12 +0000

Applications for the Bounce Back Loan Scheme (BBLS) come to a close on 31st March 2021. The purpose of the scheme was to allow small businesses, regardless whether they were sole traders, partnerships, or limited companies, a way of getting a cash flow worth 25% of their turnover (within the range of £2-£50k) to support […]

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5% Late Payment Penalty Relief Announced by HMRC

Taxfile — Tue, 23 Feb 2021 14:40:22 +0000

HM Revenue and Customs (HMRC) has announced that Self Assessment taxpayers will not be charged a 5% late payment penalty if they pay their tax or set up a payment plan by 1st April 2021. Normally, a 5% late payment penalty is also charged on any unpaid tax that is still outstanding on 3rd […]

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SEISS Grant 4 – News Coming Soon!

Mark — Wed, 10 Feb 2021 15:29:56 +0000

https://youtu.be/bN8T-_Gh9aM

Money Saving Expert founder Martin Lewis has announced¹ exclusive news about a possible 4th SEISS Grant for self-employed people. The Self-Employment Income Support Scheme (SEISS) offers direct financial support from the Government for those self-employed people who have seen a significant drop in profits due to the coronavirus pandemic, where eligible. He says the official announcement is currently scheduled for 3rd March 2021 during the Chancellor of the Exchequer's Spring Budget.

Applications for the current 3rd SEISS grant closed on the 29th of January. The fourth SEISS grant period will cover the months February, March and April. Martin's exclusive information suggests

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HMRC Extends the Self-Assessment Submission Deadline to 28th February BUT Payments still need to be made by 31st January

Taxfile — Tue, 26 Jan 2021 13:12:36 +0000

Yesterday HMRC made an 11th hour decision to give the remaining 3 million tax payers an additional 28-days to file their tax return electronically. For most, a submission after the 31st of January would have resulted in a £100 late filing penalty. With planning already underway at HMRC on how to cope with the administrative […]

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