Grant McKnight Blog

Self Assessment Dear customer, Today HMRC has announced that Self Assessment customers will not receive a penalty for filing their 2019-20 tax return late, as long as they file online by 28 ‌‌ ‌ February. We are still encouraging customers who have not yet filed to do so by 31 ‌‌ ‌ January, if possible. Customers still need to pay their Self Assessment tax bill by 31 ‌‌ ‌ January. Interest will be charged from 1 ‌‌ ‌ February on any outstanding liabilities. Customers can pay online, or through their bank, or by post before they file. If any customer cannot afford to pay by 31 ‌‌ ‌ January, they may be able to set up an affordable plan and pay in monthly instalments. But they will need to file their 2019-20 tax return before setting up a time to pay arrangement. More information is available on  GOV.UK .

Closed businesses are in line for grants of up to £9,000 in the latest effort to keep companies afloat  through another lockdown.   Mr Sunak has revealed new measures totalling £4.6bn to help struggling firms after lockdowns were announced in England and Scotland yesterday.   The latest support package also includes a £594m discretionary fund for other businesses that might be affected, an additional £1.1 billion in discretionary grant funding for Local Authorities, Local Restriction Support Grants worth up to £3,000 a month and extension of furlough scheme.   The announcement comes after Greater Birmingham Chambers of Commerce, supported by more than 50 regional stakeholders and business leaders, wrote to the Chancellor urging him to provide enhanced grant support for impacted businesses (find out more  here ).   Paul Faulkner  (pictured) , chief executive of Greater Birmingham Chambers of Commerce, said: “We are relieved that the Chancellor has answered some of our calls to Back Our