by VelocityAS | Sep 6, 2021 | Accounting, Business, HMRC, Tax
The plastic packaging tax is a new tax which is being introduced from 1 April 2022. The tax aims to provide a financial incentive to use recycled plastic in plastic packaging, which in turn will boost recycling and divert plastic away from landfill. You may have to... 
by VelocityAS | Sep 6, 2021 | Accounting, Business, COVID-19, Employment, HMRC, PAYE, Payroll
The recent ‘pingdemic’ has resulted in large numbers of employees self-isolating. Where an employee meets the qualifying conditions, you must pay them SSP while they are self-isolating. As qualifying periods of self-isolation count as a Coronavirus-absence, if you are... 
by VelocityAS | Sep 6, 2021 | HMRC, income, MTD, Self Assessment, Tax
HMRC have been consulting on the reform of the basis period rules in preparation for the introduction of Making Tax Digital for Income Tax Self-Assessment (MTD ITSA), which comes into effect from April 2023. A consultation paper was published in July 2021, which sets... 
by VelocityAS | Aug 2, 2021 | COVID-19, HMRC, Recovery Loan Scheme, Tax
During the COVID-19 pandemic, HMRC paused much of their debt collection work, both to divert resources to administering the various COVID-19 support schemes and to help taxpayers whose finances were adversely affected by the pandemic. However, as the country emerges... 
by VelocityAS | Aug 2, 2021 | Business, COVID-19, HMRC, SEISS
If you have received one or more grants under the Self-Employment Income Support Scheme (SEISS), it is important that you report the payments correctly on your tax return. 2020/21 self-assessment tax return SEISS grants that were received in the 2020/21 tax year... 
by VelocityAS | Jul 2, 2021 | Business, HMRC, Tax
From 15 June 2021, all businesses and organisations will need multi-factor authentication in order to sign into the Government Gateway. Multi-factor authentication Businesses and organisations that use HMRC’s online services and which do not currently receive an... 