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 | 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 | Business, COVID-19, Employment, Tax
Now that the ‘work from home if you can’ guidance has been lifted, employees are returning to the office. If, following their return, you allow employees to keep their homeworking equipment for personal use, there may be tax consequences to consider. Employer-provided... 
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 | Brexit, Tax, VAT
The EU e-commerce package came into effect on 1 July 2021. It introduced reforms in respect of the movement of goods from Northern Ireland to the EU and imports of low value goods into the EU or Northern Ireland. Who is affected? The changes will affect you if you:... 
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... 