During the Coronavirus Pandemic the Government introduced reduced VAT rates for some hospitality businesses. The government has now withdrawn these VAT concessions.

The reduced rates applied to:
Catering services including restaurants and takeaways
Hotels & accommodation
Public Houses: wet sales only.

The VAT rates were as follows. 

Flat Rate Scheme (FRS) VAT scheme

The discounts for businesses registered under the Flat Rate Scheme have been a bit more complicated:

If your returns have been made at the wrong rates we can help you claw back the difference. 

The sale of every property is potentially taxable under the Capital Gains Tax (CGT) rules. When an individual sells their only or main residence, generally the gain is exempt from CGT due to the Principal Private Residence (PPR) relief. However, we are so used to saying this that we are in danger of forgetting the two conditions that must be satisfied for a claim to succeed.
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The last couple of years have been financially difficult for many and the coming year will bring increased costs – not least utility bills. The July 2022 payment on account tax bill needs to be paid in a few weeks’ time and some taxpayers may find it a struggle to do so. In addition, some may still be owing tax from 2020/21 and have found an additional 5% penalty added to their tax bill.
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Those businesses that have struggled through the pandemic may find that when they come to do their accounts where usually there is a profit, the business made a loss. Whether and how that loss can be utilised depends on whether the accounts are prepared using the ‘cash basis’ (recording revenue when cash is received, expenses when they are paid) or the ‘accrual basis’ (recording revenue when earned and expenses when incurred).
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Q2. I lost my job during the pandemic and intend to set up an arts and crafts shop. I will be incurring some expenses before I can open including the cost of setting up a website, buying business cards, equipment and stock, paying two months’ rent in advance and insurance. I purchased a computer and printer five years ago and although it is now deemed to be ‘ancient’ in computer terms, it still works and I want to use it in my business as well as for home use. What expenses can I claim? Answer

Q3. I incorporated a company in April 2021 but the company has not started trading for various reasons and possibly will not do so for another few months. Do I have to submit accounts and a corporation tax return? Answer