HMRC have started sending out letters regarding deferred VAT which has not been paid and where action has not been taken. If you deferred VAT payments between March and June 2020, this deferred...
Wheelers Words: VAT Referral Update
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Wheelers Words: VAT Referral Payment Scheme, Bounce Back Loans and upcoming Budget
VAT Deferral Payment Scheme If you deferred your VAT payments due between 20 March 2020 and 30 June 2020 you can pay now or join the VAT deferral new payment scheme. You have the following options:...
Wheelers Words: Construction Industry VAT reverse charge – Applicable to those that work in the Construction Industry
After several delays HMRC have now confirmed that the CIS VAT reverse charge will come into force on 1st March 2021, nearly 18 months after its original start date. This new legislation effects VAT...
Wheelers Words: Brexit Update (updated from December)
The deal which was struck between the United Kingdom and the European Union just prior to the end of 2020 has made a few changes to the release we sent out in December. We have set this out in a...
Wheelers Words: Coronavirus Job Retention Scheme update + Budget News
Furlough Scheme It was announced yesterday, that HMRC have extended the Coronavirus Job Retention Scheme for one further month until 30 April 2021. They have confirmed that the eligibility criteria...
Wheelers Words: Chancellors Winter Economy Plan
The Chancellor has announced that he has cancelled his November budget and replaced it with a winter economy plan. Rishi Sunak announced a raft of new measures yesterday which he hopes will both...