Benson Wood & Co Blog

I have been sent a nudge letter by HMRC – What should I do next?

Thousands of taxpayers across the UK have received ‘nudge letters’ from HM Revenue & Customs (HMRC) encouraging them to declare unpaid tax.

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October: the last month to handle CJRS claims

As the Coronavirus Job Retention Scheme (CJRS), otherwise known as the furlough scheme, ended on 30 September 2021, October marks the last month in which employers will need to handle the related claims.

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Transitionary rate of VAT for hospitality comes into force

The temporary reduced rate of VAT for hospitality has increased to a transitionary rate from today, 01 October 2021.

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Do I need to rethink my IR35 strategy while there is a shortage of lorry drivers?

Due to Brexit, driver retirement and the enforced IR35 reform, there is now a shortage of Heavy Goods Vehicle (HGV) drivers in the UK – around 100,000, according to some estimates.

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Buoyant firms return £1.3 billion furlough cash to Treasury

The Coronavirus Job Retention Scheme (CJRS), or furlough, closes at the end of September and has benefited millions of workers during the COVID-19 pandemic. Read More

Making Tax Digital: businesses get an extra year to prepare

Businesses will now get an additional year to prepare for the Income Tax digital changes, as revealed by HM Revenue and Customs (HMRC).

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Company insolvencies: over 8,700 chain stores have closed 

Recent research shows that in 2021, over 8,700 chain stores have closed due to the major shift in online shopping – partly caused by the coronavirus pandemic.

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Are you prepared for the end of the winding up petition ban?

The debt threshold for a winding up petition will be temporarily increased in wake of the coronavirus pandemic, it has been announced.

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University students – be aware of fake HMRC contact

From April to May this year, 18 to 24-year olds reported over 5,000 phone-related scams to HM Revenue and Customs (HMRC).

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New advisory fuel rates come into effect for company cars

New Advisory Fuel Rates (AFRs) have come into effect from the beginning of September 2021, which apply to employees who use a company car.

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