Don’t call the tax man on a Friday in December!
9 December 2021
VAT and CT phone lines closed on Fridays!
HMRC have confirmed they are closing their VAT and Corporation Tax (CT) phone lines on Fridays throughout December. Last Friday 3rd was the first day the lines were closed and they will also be closed on the 10th and 17th December with the exception of the bereavement line. HMRC have advised this is a trial, which opens the possibility that the closure may continue until things are back on track!
HMRC have advised the closures are to allow them to deal with a backlog of post that has accumulated over the year as other work was prioritised during COVID-19.
However, HMRC have confirmed they expect things to be back to normal pre-pandemic levels of service by April 2022. Customers will be advised in the first week of January if the closures of the VAT and CT telephone lines will continue.
Making Tax Digital (MTD) for Income Tax Self Assessment (ITSA)
The Bank of England has cut the base rate to 4%. Find out what this means for trades and construction businesses, from borrowing costs to cash flow.
If you're a sole trader or landlord earning over £50,000 a year, big changes are coming your way. From April 2026, you'll need to comply with Making Tax Digital for Income Tax (MTD for ITSA) and while that might sound like it's a long way off, it’s closer than it seems. At Books and Business, we work closely with those in the trades and construction sector, and we know that admin is rarely top of the to-do list when you're running jobs, managing quotes, and keeping customers happy. But this change will affect how you keep records and report your income, so starting early is key. Lets get into what MTD for ITSA means for your business and more importantly how we can support you every step of the way.
