Important Date: Second round of Self-Employment Income Support Scheme (SEISS) opens on Monday

Aug 14, 2020

  The second round of the Self-Employment Income Support Scheme (SEISS), which is worth 70 per cent of three months’ average trading profits, capped at £6,570, launches on Monday 17 August 2020. You can claim for the SEISS if you are a ...


HM Revenue & Customs issues ‘nudge’ letters to people suspected of having undeclared overseas assets

Aug 14, 2020

  HM Revenue & Customs (HMRC) has written to people suspected of having undeclared overseas assets, asking them to declare any currently undeclared overseas assets and to complete a certificate declaring the correct tax position. The letters have been generated following receipt ...

Accountancy 18.11

FSB urging businesses not to miss out on emergency Covid-19 funding

Aug 10, 2020

The Federation of Small Businesses (FSB) is warning SMEs that any remaining emergency Coronavirus funding will go back to the Treasury at the end of August if it is not claimed. Earlier in the year, the Chancellor announced £12 billion of ...


Government publishes regional Covid-19 finance figures

Aug 07, 2020

Almost 900,000 businesses in England have benefitted from more than £10 billion in Covid-19 loans and grants, the latest figures reveal. The research, published by HM Treasury, is the first to break down financial support, such as the Coronavirus Business Interruption ...


HMRC: Making Tax Digital to be extended to all VAT-registered businesses from 2022

Aug 06, 2020

HM Revenue & Customs (HMRC) has confirmed that Making Tax Digital (MTD) will be extended to all VAT-registered businesses from April 2022. The change forms part of the Government’s digital tax drive, which will eventually see all kinds of tax reported ...


More businesses invited to apply for Covid-19 support after EU State Aid changes

Aug 03, 2020

Even more struggling businesses affected by Covid-19 can now access finance under the Coronavirus Business Interruption Loan Scheme (CBILS), it has been announced. It comes after changes to EU State Aid rules, meaning businesses classed as “undertakings in difficulty” now have ...


Chancellor considers online sales tax for e-commerce retail sector

Jul 28, 2020

The Chancellor, Rishi Sunak, is considering the introduction of a new sales tax for the online retail sector in a bid to help the struggling high street compete with the e-commerce sector. The Treasury published a call for evidence last week, ...

Restaurant (2)

Only a quarter of eligible businesses registered for ‘Eat out to help out’ scheme

Jul 23, 2020

According to the latest figures from HM Revenue & Customs (HMRC), only a quarter of eligible businesses in the hospitality sector have signed up to the new ‘Eat out to help out scheme’. It is believed that since registration for the ...

Government confirms the next steps

Government confirms the next steps for the digitisation of taxation

Jul 22, 2020

  The Treasury has released new details on the next steps it intends to take as part of its long-term tax digitisation plan. Its timeline for a modernised digital tax system will see HM Revenue & Customs’ (HMRC) Making Tax Digital (MTD) ...


Paying for COVID-19: Government begins exploring tax take back

Jul 22, 2020

The Chancellor, Rishi Sunak, has commissioned the Office of Tax Simplification (OTS) to undertake a review into how Capital Gains Tax (CGT) is paid by small businesses and individuals. It is estimated that the UK Government has already incurred hundreds of ...


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