Newsletter...
June 2021 - ENEWS
In this month's Enews we consider the roll out of the fifth SEISS grant; the imminent closure of HMRC's payment scheme for businesses that deferred VAT payments last year; and the announcement of National Insurance reliefs for employers setting up in Freeport economic zones.
With guidance on the Plastic Packaging Tax, the Trade credit insurance scheme, the deadline for forms P11D and the latest advisory fuel rates, there is a lot to update you on.
- Fifth SEISS grant will be open to claims from late July
HMRC has confirmed that the fifth Self-employment Income Support Scheme (SEISS) grant covering the period May 2021 to September 2021 will open to claims from late July. To be eligible for the grant, an individual must be self-employed or a member of a partnership.......read more - HMRC's VAT Deferral New Payment Scheme to close this month
Businesses that deferred VAT payments last year have less than a month left to join online and pay in monthly instalments under the VAT Deferral New Payment Scheme, HMRC has warned. The online portal for the new payment scheme will close on 21 June 2021......read more - NIC reliefs set for Freeports
Freeport operators will be able to take advantage of a zero rate of secondary national insurance contributions (NICs) for employees, the government has announced. The National Insurance Contributions Bill 2021, which legislates reliefs for those operating in Freeports, has now been published........read more - Government confirms start date for Plastic Packaging Tax
The UK government has confirmed that its plastic packaging tax (PPT) will come into force on 1 April 2022. The PPT will be charged at a rate of £200 per metric ton of chargeable plastic packaging components of a single specification. It will apply to plastic packaging components manufactured in or imported into the UK........read more - Effectiveness of OTS set to be reviewed by Treasury
The Treasury has launched a review into the effectiveness of the Office of Tax Simplification (OTS), the independent body responsible for helping to make the UK tax system simpler and easier to interact with for taxpayers. In a new call for evidence, the Treasury said that whilst the review is internal, it is keen to gather the views that stakeholders, businesses.......read more - Trade credit insurance scheme to close
The temporary Trade Credit Reinsurance (TCR) scheme that helped struggling supply chain firms secure insurance protection during the pandemic will close at the end of June, it has been confirmed. In a statement, the government and the Association of British Insurers said the scheme will close on 30 June as planned......read more - Advisory fuel rates for company cars
New company car advisory fuel rates have been published and took effect from 1 June 2021. The guidance states: 'You can use the previous rates for up to one month from the date the new rates apply'. The rates only apply to employees using a company car. The advisory fuel rates for journeys undertaken on or after 1 June 2021 are:.......read more - Forms P11D - reporting employee benefits
The forms P11D which report details of benefits and some expenses provided to employees and directors for the year ended 5 April 2021, are due for submission to HMRC by 6 July 2021. The process of gathering the necessary information and completing the forms can take some time, so it is important that this process is not left to the last minute.......read more
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