Anna’s Accountancy Alerts – Week 29 (17th – 23rd October 2022)

Anna’s Accountancy Alerts - Week 29 (17th - 23rd October 2022)

TTS

CJRS - HMRC

In August 2022 HMRC provided new guidance regarding the correction of Coronavirus Job Retention Scheme (CJRS) claims in the form of a Q&A.

The guidance gives information on checking your CJRS claims and what to do if you find an error. It also says that HMRC won’t expect you to repay excessive claims if they were based on advice it gave you.

HMRC warning over MTDfv

Regardless of your business turnover, if you registered for VAT you must file your returns and keep records using Making Tax Digital for VAT. If you haven’t done so already, visit HMRC’s dedicated webpage to sign up immediately.

Check HMRC tax calculations

If you have employment or pension income and aren’t required to complete a self-assessment return, you may receive a P800. Check all figures against your records and notify HMRC of any errors. Pay special attention to dividend and rental income, plus outgoings for pension contributions and job expenses, as these are likely to be estimated.

Keep up to date with all things Accounting and Finance with my bi-weekly Accountancy Alerts. 

Stay Up-To-Date With Coronavirus & Brexit News

Coronavirus has affected us all. Whether you’re a sole trader, employer or employee. Stay up to date with the latest news – including government support, tax implications, and more.