Furlough scheme extended
November 2020
On 5 November, Chancellor Rishi Sunak announced that as part of the new national lockdown the Coronavirus Job Retention Scheme (CJRS) has been extended until the end of March 2021. …
Increased support made available for the self employed
November 2020
The government has increased the support available to self-employed workers and extended its emergency business loan schemes as the UK heads for a second national lockdown. On 5 November Rishi…
Chancellor approves grants for businesses closed by lockdown
November 2020
Chancellor Rishi Sunak has announced approved additional funding for cash grants to support businesses required to close in England due to the lockdown. Those businesses affected will be eligible for…
Self assessment customers to benefit from enhanced payment plans
November 2020
Self assessment taxpayers are now able to benefit from enhanced payment plans and can apply online for additional support to help spread their tax bill into monthly payments. The online…
Taxpayers claim tax relief for working from home
November 2020
HMRC has received more than 54,800 claims from taxpayers using a new online portal which allows workers to claim tax relief for working at home. From 6 April 2020, employers…
Brexit imports and exports
November 2020
From 1 January 2021, the UK will operate a full external border with the EU, which will entail major changes for imports and exports to and from the trading bloc.…
ATT issues last call for firms seeking to use increased Annual Investment Allowance
November 2020
The Association of Taxation Technicians (ATT) has issued a last call for businesses looking to make use of the increased Annual Investment Allowance (AIA). The AIA will be reduced from…
Latest guidance for employers
November 2020
HMRC has published the latest issue of the Employer Bulletin. The October issue has information on various topics including: coronavirus support schemes and what employers need to do from November…
Job Support Scheme
October 2020
The existing job support scheme, the furlough scheme, comes to an end on 31 October. As part of the Winter Economy Plan the government announced it will be introducing a…
Winter Economy Plan support for the self-employed
October 2020
As part of the Winter Economy Plan the Self-Employment Income Support Scheme (SEISS) will be extended under the name SEISS Grant Extension. The grant: will be limited to self-employed individuals…
VAT deferral and enhanced Time to Pay for self assessment
October 2020
Over half a million businesses deferred VAT payments, which were due in March to June 2020, with these payments becoming due at the end of March 2021. As part of…
Changes to the Bounce Back Loan and Coronavirus Business Interruption Loan Schemes
October 2020
The Bounce Back Loan Scheme (BBLS) has provided support to many UK-based small businesses. Loans are between £2,000 and £50,000, capped at 25% of turnover, with a 100% government guarantee…
The VAT reverse charge
October 2020
HMRC has issued detailed guidance on the domestic reverse charge changes scheduled for 1 March 2021. The reverse charge represents part of a government clampdown on VAT fraud. Large amounts…
Ministers announce new grants for businesses affected by local lockdowns
October 2020
Businesses in England that are required to shut because of local interventions will now be able to claim up to £1,500 per property every three weeks. To be eligible for…
New trade arrangements with the EU from 1 January 2021
October 2020
HMRC has sent letters to VAT-registered businesses in Great Britain trading with the EU, or the EU and the rest of the world. They explain what businesses need to do…
House sales rise following the introduction of stamp duty holiday
October 2020
The government has announced that residential property transactions rose 15.6% in August following the introduction of a stamp duty holiday. The government has announced: a rise in sales supports nearly…