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Window for paying deferred VAT by instalments 'closes very soon'

Window for paying deferred VAT by instalments 'closes very soon'
farminguk.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from farminguk.com Daily Mail and Mail on Sunday newspapers.

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New OTS report on Capital Gains Tax 'helpful for farmers'


New OTS report on Capital Gains Tax helpful for farmers
26 May 2021 |
The Office of Tax Simplification s (OTS) new report makes 14 detailed recommendations
The latest Office of Tax Simplification report on Capital Gains Tax offers generally helpful and sensible recommendations for farming businesses, accountants say.
The new OTS report has extensive scope, covering situations including moving home, divorce, running and investing in a business, and issues affecting land transactions.
It focuses on Capital Gains Tax (CGT) for individuals and smaller business, rather than partnerships, trusts, estates in administration, non-UK residence/domicile, international issues or corporate groups.
It identifies limited awareness around CGT and confusion around reporting and payment. One key recommendation is that CGT should be included in the digital HMRC Personal Tax Account or Single Customer Account. ....

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HMRC 'hot on the trail' of Covid support fraudsters


HMRC hot on the trail of Covid support fraudsters
11 May 2021 |
Fraudulent Covid support claims should be raised with HMRC at the earliest opportunity
HMRC is hot on the trail of Covid-19 support grant fraudsters including those from the farming sector, according to an accountancy firm.
Saffery Champness is warning that those who wrongly claimed from the Self-Employed Income Support Scheme (SEISS) and Coronavirus Job Retention Scheme (CJRS) should come clean .
HMRC recently advised that the claims window for the SEISS, covering the three months from February – April 2021, is open and will remain so until 1 June 2021.
There will be a fifth grant made available to those who qualify in due course, covering the period from May – September 2021. ....

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Budget 2021: Key points for farming businesses


Budget 2021: Key points for farming businesses
4 March 2021 |
The Chancellor unveiled his three-part plan to protect jobs and livelihoods of the British people
Accountancy firm Saffery Champness has combed through the detail of the government s three-part plan to recover the UK s economy following the pandemic, and what it means for farming businesses.
In what is only his second budget, Rishi Sunak, Chancellor of the Exchequer, announced his 3-part plan on Wednesday (3 March) ‘to protect jobs and livelihoods of the British people’.
The three parts to the plan are: To continue to do whatever it takes to get through the Covid crisis; to fix public finances; to build the future economy. ....

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