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Welcome to our latest monthly tax newswire. We hope you enjoy reading this newsletter and find it useful. Contact us if you wish to discuss any issues further.

SEISS: fourth grant claims gateway now open. The online gateway to apply for the latest round of grants is now open. When should applications be made and what’s different this time?

Budget 2021 confirmed that the government is pressing ahead with a change to the way penalties for VAT returns filed late will be charged. What’s happening?

Welcome to our monthly newswire. In this issue we cover a number of recent tax changes and things to be aware of in the future. As usual contact us if you wish to discuss any matters further.

If you want to start selling your products or services online, Shopify provides the perfect platform to do so.

The vaccine rollout continues, with more than 30 million people and over half of UK adults have now had the first dose. Phase one of the UK’s plan is that by April all over 50s, care home residents, healthcare workers, people shielding and others with specific health conditions will have been offered the first dose and that by 31 July phase two will be finished with all adults offered the vaccination.

Tax year overview

The economy will recover!
The latest figures from the Office for National Statistics (ONS) show that the UK Gross Domestic Product in February 2021 was 9% down on the 2020 figures. This is similar to what has been reported in the press and monthly production in February was down 5% and manufacturing 5.7% lower than the equivalent figures for 2020.

In the Chancellor’s second real Budget on 3 March 2021 he announced that he had to level with people about the state of the UK economy. Prior to Budget day there were fewer leaks than normal about possible tax changes. There were however announcements prior to Budget day of grants for High Street businesses and the hospitality sector and the widely predicted extension of the furlough scheme.