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 ...
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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 ...
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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 ...
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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, ...
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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 ...
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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) ...
READ MOREPaying 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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Upcoming key dates for the Coronavirus Job Retention Scheme
Jul 22, 2020
In the next few weeks, employers may need to submit additional information or change the way they manage their Coronavirus Job Retention Scheme (CJRS) claims. To help you prepare, here are some key dates and actions you may need to ...
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Government confirms Job Retention Bonus of £1,000
Jul 22, 2020
During the Summer Economic Update, the Chancellor Rishi Sunak announced his Plan for Jobs, which included a new incentive for users of the Coronavirus Job Retention Scheme (CJRS) to keep furloughed workers employed until January 2021. The Job Retention Bonus (JRB) ...
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Self-assessment taxpayers can “automatically defer payments on account”, HMRC confirms
Jul 20, 2020
Self-employed taxpayers due to make a payment on account can automatically defer the payment until 31 January 2021, it has been confirmed. The second Self Assessment payment on account for the tax year 2019/20 is usually due at the end of ...
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