HMRC may be issuing penalties to businesses who have failed to notify them that they have received a grant, which they were not eligible for or an overpayment under the various support schemes that have been available through the Coronavirus pandemic. The factsheet available on the Government website gives further information on why and how these penalties will be issued, check if your business might be affected.
If you receive tips on ‘more than an occasional’ basis, there is new legislation which is effective from October 2024, that you need to be aware of. By more than occasional, HMRC seem to deem a few tips a year as occasional and so if your business receives tips more than this, you need to […]
Hopefully you are already aware that HMRC have introduced legislation that requires certain individuals to keep and submit electronic records on a quarterly basis, for their business / rental income. MTD comes in to force from 6 April 2026 if your turnover / rental income or both added together exceed £50,000 and from 6 April […]
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