Government delays VAT Reverse Charge
Jun 15, 2020
The Government has announced that the controversial VAT Reverse Charge rules for the construction sector will be delayed until 1 March 2021 due to the Coronavirus pandemic. The VAT Reverse Charge rules, which effectively transfer the responsibility of paying VAT from ...
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Further clarification issued on eligibility for second round of Self-Employment Income Support Scheme
Jun 15, 2020
HM Revenue & Customs (HMRC) has issued further details of eligibility for the second round of the Self-Employment Income Support Scheme (SEISS), which will provide taxable grants to self-employed individuals. The grants will be 70 per cent of average monthly trading ...
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HM Revenue & Customs publishes detailed guidance on calculating furlough claims from July onwards
Jun 15, 2020
HM Revenue & Customs has published detailed guidance on the operation of the Coronavirus Job Retention Scheme (CJRS) from 1 July 2020 onwards, including examples of how to calculate claims for the new flexible furlough option. The CJRS currently provides grants ...
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Businesses access £35 billion through COVID-19 support schemes
Jun 10, 2020
The Government has now delivered almost £35 billion in corporate finance to businesses affected by COVID-19, it has been revealed. The figures, published by the British Business Bank (BBB), highlight the importance of the business support schemes three months after shops ...
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Trade Credit Reinsurance scheme to support 630,000 UK businesses
Jun 05, 2020
More than 630,000 UK businesses have been given the confidence to trade during Covid-19 after the Government announced guarantees of up to £10 billion to Trade Credit Insurance schemes. Trade Credit Insurance enables businesses to trade safe in the knowledge that ...
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Apply today for Local Authority Discretionary Grants
Jun 03, 2020
Additional financial support is now available to the UK’s smaller businesses, who may have been excluded from existing schemes through Local Authority Discretionary Grants. Around £617 million has been made available to local authorities to support businesses that are struggling due ...
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Self-Employment Income Support Scheme (SEISS) extended
Jun 01, 2020
The Chancellor has confirmed the extension of the Self-Employment Income Support Scheme (SEISS), with the announcement of a second and final grant to support the income of self-employed individuals during the Coronavirus outbreak. The first and current round of grants under ...
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Chancellor unveils changes to furlough scheme
Jun 01, 2020
The Chancellor, Rishi Sunak, has announced a series of changes to the Coronavirus Job Retention Scheme (CJRS) from July that will see furloughed employees able to return to work part-time, but with the value of Government support reducing gradually from ...
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Changes to notifying an option to tax (VAT) on land and buildings during the Coronavirus pandemic
May 21, 2020
HM Revenue & Customs (HMRC) has made temporary changes to the time limit and rules for notifying an option to tax (charge VAT on) land and buildings. Normally, when notifying HMRC of a decision to opt to tax land and buildings, ...
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Money laundering supervision payment deferrals and deregistration announced by HM Revenue & Customs
May 21, 2020
Businesses that require money laundering supervision from HM Revenue & Customs (HMRC) can receive a six-month payment deferral or deregistration where an annual fee is due between 1 May and 30 September 2020, it has been announced. HMRC is the money ...
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