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Travel Survey – we need your help!
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To help us analyse the impact COVID has had on the travel sector, we would be grateful if you would complete this short survey of consumer habits for purchasing holidays. We will be releasing the results during our webinar on 27 January as well as in a summary report. | |
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Chancellor announces £1 billion fund for businesses
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On 21 December 2021, Chancellor of the Exchequer, Rishi Sunak, unveiled a £1 billion COVID-19 fund, including cash grants for those in the hospitality and leisure industry of up to £6,000 per premises for each eligible firm. It’s hoped that this will support such businesses struggling with cancellations through what would otherwise be their busiest time of the year, especially with rental quarter days impacting upon many.
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| Self assessment taxpayers must declare COVID grants on tax returns
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As the deadline for filing of self assessment tax returns approaches, HMRC has reminded self assessment taxpayers to declare any COVID-19 grant payments on their 2020/21 tax return. According to HMRC, more than 2.7 million tax-payers claimed at least one Self-employment Income Support Scheme (SEISS) payment up to 5 April 2021. | |
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| HMRC waives self assessment penalties for one month to ease COVID-19 pressures | |
HMRC is waiving late filing and late payment penalties for self assessment taxpayers for one month. The measure will give those taxpayers affected by the coronavirus (COVID-19) extra time, if they need it, to complete their 2020/21 tax return and pay any tax due. HMRC is still encouraging taxpayers to file and pay on time if they can. | |
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| HMRC latest guidance for employers | |
HMRC has published the latest edition of the Employer Bulletin. This guidance for employers, and their agents, includes articles on: - Reporting PAYE information in real time when payments are made early at Christmas
- Preventing and correcting payroll errors
- Health and Social Care - National Insurance contribution increase
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Refunds owed to HMRC by companies in respect of Covid-related schemes | |
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If your company owes HMRC a refund in respect of overpayments received from any of the following COVID-related schemes - Coronavirus Job Retention Scheme (CJRS)
- Job Seekers Scheme (JSS)
- Job Retention Bonus (JRB)
- Eat Out to Help Out (EOTHO)
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James Cowper Kreston is a leading firm of accountants and business advisers, with offices across the South of England. We deliver focused, innovative advice to a diverse range of businesses and individuals helping our clients to maximise their potential. If you would like to discuss any of the topics raised within this newsletter please email us on info@jamescowperkreston.co.uk or call us on 01635 35255. James Cowper Kreston | |
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The information in this newsletter must not be relied on as giving sufficient advice in any specific case.
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