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So far Harris Lacey & Swain has created 2130 blog entries.

Private providers of COVID-19 testing: what you need to know

The Department of Health and Social Care (DHSC) is aware of private-sector (non-NHS) providers who are undergoing UKAS accreditation in order to provide COVID-19 testing services to companies or individuals. Individuals with coronavirus symptoms should self-isolate immediately and get an NHS Test and Trace test to check if they have coronavirus. Free NHS testing is for individuals with symptoms or who have been advised to take a test by a medical practitioner or a public agency. Individuals who do not fall into these categories and require a test for other reasons, such as fit-to-fly, can contact providers for general COVID-19 testing below to book a private [...]

VAT Deferral Reminder– join online by 21 June

The VAT deferral new payment scheme is open for all businesses who deferred paying VAT due between 20 March and 30 June 2020 and were unable to pay in full by 31 March 2021. 21 June is the last day you can join this scheme. If you join by this date you can apply to spread these payments across up to eight instalments. You can join online here:  Pay VAT deferred due to coronavirus (COVID-19) - GOV.UK (www.gov.uk) If you have deferred paying VAT, you may be charged a 5% penalty and/or interest if you do not join the VAT [...]

Changes to the Coronavirus Job Retention Scheme (CJRS) from July

The UK Government will continue to pay 80% of your furloughed employees’ usual wages for the hours not worked, up to a cap of £2,500 per month, to the end of June. In July, CJRS grants will cover 70% of employees' usual wages for the hours not worked, up to a cap of £2,187.50. In August and September, this will then reduce to 60% of employees’ usual wages up to a cap of £1,875. You will need to pay the 10% difference in July, and 20% in August and September, so that you continue to pay your furloughed employees at [...]

New tool launched to support organisations achieve Cyber Essentials certification

The Cyber Essentials Readiness Tool, which has been developed by IASME on behalf of the National Cyber Security Centre – a part of Government Communication Head Quarters – asks organisations a series of questions related to the main Cyber Essentials criteria to help prepare them for certification. Through the Cyber Essentials scheme, businesses can learn how to defend themselves by securing internet connections and devices, controlling access to data, and understanding how to protect against malware.

Paying tax on benefits through your payroll

Employers can deduct and pay tax on most employee expenses through your payroll (sometimes called ‘payrolling’) as long as you have registered with HMRC before the start of the tax year (6 April). This can be particularly beneficial in the first year that a company car is provided to an employee as it means that they won’t get a big tax bill at the end of the year. Employers do not need to submit a P11D form for an employee if you’re paying tax on all their benefits through your payroll. However, they still need to submit a P11D(b) form [...]

Taxable benefit charge – returning office equipment

Employer provided equipment If you have supplied your employees with office equipment to allow them to work from home, without a transfer of ownership, there is no tax charge when they return the equipment back to you. If you transfer the ownership of the equipment to the employee at any stage of their employment, a benefit charge generally arises on the market value of the equipment at the time of the transfer less any amount made good by the employee. There is an alternative method for calculating the chargeable benefit when equipment is transferred, more information on this method can [...]

Reminder – P11D Forms due by 6 July

Despite the coronavirus lockdowns, HMRC still expect P11D forms reporting expenses and benefits to be submitted by the normal 6 July deadline. Employers need to submit a P11D form to HMRC for each employee you’ve provided with expenses or benefits. Employers also need to submit a P11D(b) form if: You have submitted any P11D forms You have paid employees’ expenses or benefits through your payroll HMRC have asked you to - either by sending you a form or an email Form P11D(b) tells HMRC how much Class 1A National Insurance (at 13.8%) you need to pay on all the expenses [...]

Scams warning for tax credits customers

Tax credits customers should be vigilant and alert to potential scams, HM Revenue and Customs (HMRC) has warned. Anyone doing their tax credits renewal who has received a tax or benefits scam email, or text, might be tricked into thinking it was from HMRC and share their personal details with criminals, or even transfer money for a bogus overpayment. Many scams mimic government messages to appear authentic and reassuring. HMRC is a familiar brand, which criminals abuse to add credibility to their scams. If customers cannot verify the identity of a caller, HMRC recommends that you do not speak to [...]

Latest economic news

UK gross domestic product (GDP) is estimated to have grown by 2.3% in April 2021, the fastest monthly growth since July 2020, as government restrictions affecting economic activity continued to ease. The service sector grew by 3.4% in April 2021, with consumer-facing services re-opening in line with the easing of coronavirus restrictions and more pupils returning to onsite lessons. April’s GDP remains 3.7% below the pre-pandemic levels seen in February 2020, however it is now 1.2% above its initial recovery peak in October 2020. See: GDP monthly estimate, UK - Office for National Statistics (ons.gov.uk) The latest Office for National [...]

Why should you do a strategic business plan?

“Without a destination a sailor will never get a favourable wind” Anon. It is easier to get to your destination with a plan. We all know this simple truth. If you are driving from A to B it helps to know where A is and the directions, you need to take. If you have a vision of what you want your business to look like when it is “complete” then you are in a position to drive your business towards the vision and you can monitor how you are doing as you go along. If you do not have a [...]

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