Zero-rate of VAT applied to sales of PPE from today
May 01, 2020
The tax on personal protective equipment purchased by care homes, businesses, charities and individuals will be cut from today, it has been announced. According to HM Treasury, PPE, such as face masks and gowns, will be zero-rated for VAT from 01 ...
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IR35: House of Lords committee calls for reform of off-payroll working rules
Apr 30, 2020
A House of Lords committee report that is reviewing the planned changes to the IR35 off-payroll working rules has called for a reform of the rules, stating that there are ‘inherent flaws’ in the legislation. IR35 was intended to be introduced ...
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Businesses who defer VAT payments should continue to file returns as usual, says HMRC
Apr 28, 2020
Businesses who have deferred VAT payments until the end of June 2020 should continue to file Making Tax Digital (MTD) returns as normal, the regulator has confirmed. The guidance comes after the Government announced that all businesses severely affected by Covid-19 ...
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Bounce Back Loans scheme for small businesses
Apr 28, 2020
The Chancellor has announced a new loans measure, known as the Bounce Back Loans Scheme (BBLS), which will allow small businesses to borrow up to 25 per cent of their turnover, up to a maximum of £50,000. The BBLS will be ...
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Businesses bombarded by cyber-attacks as they seek support for COVID-19
Apr 27, 2020
A range of organisations, including the Institute of Chartered Accountants in England and Wales (ICAEW), have released fresh warnings about the risk of cyber-attacks during this already challenging period. Reports are being released that suggest that cybercriminals are targeting businesses via ...
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Child Benefit and the High-Income Child Benefit Charge during the coronavirus outbreak
Apr 27, 2020
The impact of the coronavirus outbreak on incomes in the most affected sectors has the potential to have a knock-on effecton eligibility for Child Benefit and the High-Income Child Benefit Charge. The High Income Child Benefit Charge was introduced by the ...
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Coronavirus Statutory Sick Pay Rebate Scheme
Apr 27, 2020
HMRevenue &Customs (HMRC) is expected to release a new online service to help companies reclaim Statutory Sick Pay (SSP) that has been paid as a result of COVID—19. As such, it has updated its guidance on its website to help businesses ...
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Coronavirus Customs Authorisations
Apr 27, 2020
In response to the COVID-19 outbreak, the Government is making temporary changes to customs policy and authorisations. These amendments to existing policies are most likely to affect businesses authorised, or applying to be authorised by customs,thatuse temporary storage or customs special ...
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Are you or your team classed as essential workers?
Apr 27, 2020
Book your free coronavirus test online For the Government to begin the process of lifting the lockdown they need to undertake more tests to understand what proportion of the UK public is immune and to ensure those most at risk can ...
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Payment of dividends during the Coronavirus outbreak
Apr 27, 2020
It is common for directors of limited companies, who are also shareholders, to receive much of their income in the form of dividends instead of through a salary, owing to the tax benefits this can entail. However, there are strict rules ...
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