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Explore insightful articles, tips, and industry updates from RMT. Stay informed on the latest trends, innovations, and best practices in accounting and business services.

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Received a CJRS Compliance Check? Act now!

The Coronavirus Job Retention Scheme (CJRS) ended in September but many firms could still be subject to a CJRS compliance check in the weeks and months ahead. HM Revenue & Customs (HMRC) has been sending out letters to employers throughout the year telling them they need to pay back CJRS payments because they claimed too

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MTD For Income Tax Delayed Until April 2024, HMRC Confirms

Making Tax Digital (MTD) for Income Tax will be delayed until April 2024, the Government has confirmed. It means self-employed business owners and landlords will have one more year to prepare for the digitalisation of Self Assessment. According to HM Revenue & Customs (HMRC), the decision to delay the digital tax regime comes after concerns

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Revised Brexit Timetable to Give Businesses “More Time to Adjust”

A revised Brexit timetable will give businesses “more time to adjust” to new trading processes, it has been suggested. The new schedule comes after concerns that firms are now focusing on recovery from the Coronavirus pandemic, rather than new customs declarations and controls. Here’s what you need to know. Full customs declarations and controls to

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New Mileage Rates From September 2021

Mileage rates for petrol and diesel cars have increased from 1 September 2021, employers have been reminded. The new rates only apply to employees using a company car, rather than their own vehicle. If you need to reimburse staff for business travel, here’s what you need to know. What are mileage rates? Mileage rates –

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Brexit And Immigration: The Key Dates You Need to Know About

Despite ‘officially’ leaving the European Union in January this year, there are still a number of loose ends that need tying up. In fact, the Brexit deal itself includes transitional rules that span from 2021 to 2028. While many of these rules relate to trade and customs, immigration is a matter yet to be fully

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Tax-Relief Schemes May Help Start-Ups Raise Outside Investment – ICAEW

Tax-relief schemes may help start-ups and established businesses attract outside investment when traditional investment is not viable, a major regulator has said. The Institute of Chartered Accountants in England and Wales (ICAEW) said initiatives, such as the seed enterprise investment scheme (SEIS) and the enterprise investment scheme (EIS), may help even the smallest of firms

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Are You Entitled to The Marriage Allowance?

Millions of married couples and those in civil partnerships could be entitled to up to £252 in income tax relief, HM Revenue & Customs (HMRC) has revealed. The latest statistics suggest that nearly 1.8 million couples are currently claiming the Marriage Allowance. But following a change in circumstances, millions more couples may be eligible to

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Beware of Exceeding Your Pension Pot Allowance

Thousands of people who put money into their pension each year are inadvertently failing to declare pension tax charges, according to HM Revenue & Customs (HMRC). This can lead to an unexpected and costly tax bill. Your annual allowance is the maximum you can save in your pension pots in a tax year (6 April

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HMRC Helpsheet to Support Residential Property Sellers With New CGT Rules

New guidance will help homeowners understand the implications of capital gains tax (CGT) when selling UK residential property, it has been revealed. HM Revenue & Customs (HMRC) said the new helpsheet – which can be downloaded here – will support taxpayers in complying with new reporting obligations. The guidance comes after major changes to the

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