Spotlight - Government Announcements

HMRC launches VAT deferral new payment scheme

Firms can pay equal consecutive monthly instalments from March 2021.

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HMRC waives 5% late payment penalty

Payments should be made by 1 April 2021 to avoid fine.

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Treasury delays business rates review

Report pushed back due to pandemic uncertainty.

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HMRC confirms 12-month ‘soft landing’ for IR35

New reforms to go ahead as planned on 6 April.

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Govt. unveils £20m SME Brexit support fund

The grants are worth up to £2,000.

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Firms get more time to repay bounce-back loans

Repayments can be spread over ten years, rather than six.

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Govt. announces £1,000 cash boost to help firms take on trainees

The cash boost will be made available from 31 July 2021.

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HMRC waives penalties for late-filed tax returns

Fines to kick in after 28 February 2021.

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Big businesses to reduce payment times to small suppliers

50,000 small firms close every year due to late payments.

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Chancellor unveils £4.6bn support package

Firms will be able to receive up to £9,000.

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