HLAS

A 25% rate of corporation tax will apply to all of a company’s profits if they exceed £250,000 from 1 April 2023. The 19% rate will continue to apply where profits are below £50,000. The marginal rate that applies between those limits will be 26.5%. Those upper and lower limits are divided by the number of “associated companies” in the accounting period. This is not merely companies in the same 51% group but also includes companies under common control, for example where the same individual controls two standalone companies. So, if Fred controls Bloggs Trading Ltd and also Bloggs Lettings [...]

Currently only VAT registered businesses making taxable supplies in excess of the £85,000 VAT registration threshold are mandated to comply with Making Tax Digital (MTD) rules. Those rules require the business to keep digital business records and send VAT returns using MTD-compatible software. MTD for VAT is now being rolled out to all VAT registered businesses from April 2022 which may cause some traders who are VAT registered but below the threshold to consider deregistering to avoid having to comply with MTD for VAT. If you decide to do so you will need to complete Form VAT7 and account for [...]

These 14 guides cover a range of different types of work. Many businesses operate more than one type of workplace, such as an office, factory and fleet of vehicles. You may need to use more than one of these guides as you think through what you need to do to keep people safe. Priority actions are outlined at the top of each guide. New guidance has been provided for: Heritage locations – Updated to reflect Step 2 of the roadmap Performing arts – Updated to reflect Step 2 of the roadmap. See: https://www.gov.uk/guidance/working-safely-during-coronavirus-covid-19

Guidance to help local authorities and partners to deliver activities supported through the Welcome Back Fund. This funding builds on the Reopening High Streets Safely Fund announced in May 2020. The Welcome Back Fund is providing councils across England a share of £56 million from the European Regional Development Fund (ERDF), to support the safe return to high streets and help build back better, from the pandemic. This funding builds on the £50 million Reopening High Street Safely Fund (RHSSF) allocated to councils in 2020 and forms part of the wider support government is providing to communities and businesses. This [...]

The guidance for employers carrying out right to work checks during the coronavirus pandemic has been updated as the temporary adjustments introduced because of coronavirus end on 16 May 2021. The following temporary changes were made on 30 March 2020 and remain in place until 16 May 2021. checks can currently be carried out over video calls job applicants and existing workers can send scanned documents or a photo of documents for checks using email or a mobile app, rather than sending originals employers should use the Employer Checking Service if a prospective or existing employee cannot provide any of the accepted [...]

The lists of, and information about, approved suppliers of private testing kits for coronavirus (COVID-19) has been updated. See: Private providers of coronavirus testing - GOV.UK (www.gov.uk) Providers of day 2 and day 8 coronavirus testing for international arrivals Information on the 2 tests you must book, pay for and take, during your mandatory 10-day quarantine period after arriving in England, including how to book. See: Providers of day 2 and day 8 coronavirus testing for international arrivals - GOV.UK (www.gov.uk)

The government has provided businesses with a notice to display to show you have made your workplace COVID-secure. See: Staying COVID-19 Secure notice (publishing.service.gov.uk)

Help and support if your business is affected by coronavirus (COVID-19) A YouTube video about the Coronavirus (COVID-19) Job Retention Scheme and a webinar for Self-Employment Income Support Scheme (SEISS) – fourth grant, have been added to the government guidance. See: Help and support if your business is affected by coronavirus (COVID-19) - GOV.UK (www.gov.uk) Download a template if you're claiming for 100 or more employees through the Coronavirus Job Retention Scheme Complete a template with the details of the employees you're claiming for and upload this when you claim (for claims on or after 1 July 2020). Templates are [...]

Paying back VAT deferred due to coronavirus Information has been added on penalties or interest that may be charged if you do not pay in full, or make an arrangement to pay, and how you may still be able to avoid these charges. The webpage below details how to pay VAT payments deferred between 20 March and 30 June 2020. You can pay now or join the VAT deferral new payment scheme. If you deferred VAT payments due between 20 March 2020 and 30 June 2020 you can: pay the deferred VAT in full now join the VAT deferral new [...]