Self-Employment Income Support Scheme open for business
May 13, 2020
The Self-Employment Income Support Scheme (SEISS) is now open for business, weeks ahead of schedule. First announced in March, the landmark capital grant scheme is designed to help self-employed workers affected by Covid-19 recover from financial distress. According to HM Treasury, the ...
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Coronavirus Job Retention Scheme (CJRS) extended until October
May 12, 2020
The Chancellor, Rishi Sunak, has confirmed that the Coronavirus Job Retention Scheme (CJRS) will be extended until the end of October, with no changes until the end of July when employers currently using the scheme will be able to bring ...
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COVID-19: The impact on company car benefit in kind
May 06, 2020
Due to the coronavirus pandemic, many people in the UK are now working from home or have been placed on furlough leave, meaning that they are not using their employer-provided company car. But what is the impact on the benefit ...
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Government reduces the penalty for Lifetime ISA withdrawals
May 05, 2020
With thousands of workers on lower incomes as a result of the coronavirus pandemic, it is not surprising that many individuals need to dip into savings to support themselves. Unfortunately, those with money saved in a Lifetime ISA (LISA) face a ...
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Eligibility for grant funding
May 05, 2020
By now many businesses eligible for grant funding from their local authority, either via the Small Business Grants Fund or the Retail, Hospitality and Leisure Grant Fund, should have been contacted to make them aware that they are eligible, with ...
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Get ready to claim the Self-Employment Income Support Scheme (SEISS)
May 05, 2020
HM Revenue & Customs (HMRC) will start contacting individuals who may be eligible for the Self-Employment Income Support Scheme (SEISS). The tax authority has said that from 4 May 2020 onwards it will begin reaching out to those who can benefit ...
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Bounce Back Loan scheme is now live – apply today
May 05, 2020
The Government’s new Bounce Back Loan scheme (BBLS) has now gone live online and is open for applications. This new scheme is aimed specifically at small to medium-sized businesses looking to borrow a smaller amount to assist them with cash flow ...
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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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