Anna’s Accountancy Alerts – Week 10 (7th – 13th June 2021)

Female business owner using tablet computer in clothes shop

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Women’s state pension error

The government will be paying arrears of pension to many thousands of married women. HMRC cannot demand tax on the arrears relating to periods prior to 6 April 2017.

HMRC warns of disrupted VAT payments

HMRC is closing its old computer system for VAT and transferring the functions to its Making Tax Digital (MTD) platform.

If HMRC doesn’t have a valid email address for your business, you need to supply one by July. If you don’t HMRC will cancel your VAT direct debit arrangement. If you’re using MTD you’re probably OK.

SEISS claim?

HMRC expects you to review your claims and repay any overpayments.

For the SEISS 1 and 2 you must be sure that at the time of your claims you could reasonably have expected increased costs or lower income as a direct result of the Pandemic. For the SEISS 3 and 4 you must be certain that the adverse effects of the Pandemic on your business will result in lower profits.

https://www.gov.uk/government/publications/penalties-for-not-telling-hmrc-about-self-employment-income-support-scheme-grant-overpayments-ccfs47

https://www.gov.uk/guidance/tell-hmrc-and-pay-the-self-employment-income-support-scheme-grant-back

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