HMRC has extended the period available for taxpayers to appeal a tax decision by an additional three months, in light of the current pandemic. Under normal circumstances, HMRC writes to tell individuals if they can appeal, and they usually have 30 days in which to do so. Updated guidance now states that if an individual…
Category archives: HMRC
More than 500,000 UK Companies in Significant Financial Distress
509,000 UK companies are in significant financial distress—the highest number ever measured. The coronavirus lockdown has seen the largest quarterly increase in the number of businesses in significant distress since the end of 2017, growing by 15,000 companies. This figure is expected to increase throughout Q2 as COVID-19 restrictions continue. The number of critically distressed…