Posted 03/08/2020 Further details of how jobs will be protected through the government’s new Job Retention Bonus have been unveiled by HMRC. employers will receive a one-off payment of £1,000 for every employee who has previously been furloughed under Coronavirus Job Retention Scheme (CJRS) – if they remain continuously employed to the end of January…Read More
Posted 03/08/2020 Thousands of smaller businesses in England are set to benefit from £20 million of new government funding to help them recover from the effects of the coronavirus pandemic, the Minister for Regional Growth and Local Government has announced. Small and medium sized businesses will have access to grants of between £1,000 – £5,000…Read More
Posted 29/07/2020 You must tell HMRC if you made a claim for the grant that you weren’t eligible for or you received more than HMRC said you were entitled to. The date you received the grant determines when you must notify HMRC of an erroneous grant. If you received the grant: before 22 July 2020…Read More
Posted 29/07/2020 HMRC won’t charge a penalty if you didn’t know you had been overpaid and if you repaid it within the relevant time period. Sole traders or partners the relevant time period is 31 January 2022, and for companies it is 12 months from the end of the accounting period. If you’ve overclaimed a…Read More
Posted 29/07/2020 If you’ve claimed too much If you want to delete a claim in the online service, you must do this within 72 hours. If you’ve claimed too much, you must pay this back to HMRC. If you’re submitting another claim you need to declare this overpayment in your next claim. If you’re not submitting…Read More
Posted 22/07/2020 Yesterday the Government published an overview of Making Tax Digital. The big news is that all VAT registered businesses with VAT turnover below £85,000 will be required to follow MTD rules for returns filed on or after April 2022. That might sound a long way off, but you may wish to take action…Read More
Posted 21 July 2020 We know that individuals and businesses have been under enormous pressure throughout the coronavirus crisis. Remember ongoing business support is available through many different channels which you may not be aware of and is free for many. Employers and employees need support in many ways right now, from general business guidance,…Read More
Posted 20/07/2020 You should submit Coronavirus Job Retention Scheme claims for periods ending on or before 30 June 2020 by 31 July 2020. This is the last date to make those claims. Employers need to have made a claim at any point on or before 31 July to be able to make a claim for…Read More
Written 15/07/2020 The new flat rate percentages, which will apply from 15 July until 12 January, have been announced by the Government. The amendments are as follows: Catering services, including restaurants and takeaways – reduced from 12.5% to 4.5% Pubs – reduced from 6.5% to 1% Hotels and accommodation – reduced from 10.5% to 0%…Read More
Posted 09/07/2020 A new temporary reduced rate of VAT of 5% was announced on 8 July 2020 for admission to certain attractions. This temporary rate will apply from 15 July 2020 to 12 January 2021. Who this applies to This applies to businesses that make supplies of admissions that are currently taxable at the standard…Read More
Posted 09/07/2020 The government made an announcement on 8 July 2020 allowing VAT registered businesses to apply a temporary 5% reduced rate of VAT to certain supplies relating to: hospitality hotel and holiday accommodation admissions to certain attractions The temporary reduced rate will apply to supplies that are made between 15 July 2020 and 12…Read More
Posted 09/07/2020 It has been announced that you can register your establishment for the Eat Out to Help Out Scheme from 13th July 2020, with registration closing on 31st August 2020. You can register if your establishment: sells food for immediate consumption on the premises provides its own dining area or shares a dining area…Read More
Posted 08/07/2020 The Chancellor has made his announcement today and revealed the plans to save jobs and boost the UK’s economic recovery. The points are summarised below: Stamp Duty Reduction From today until 31 March 2021, buyers will pay no Stamp Duty on the first £500k when they move home This will apply until 31…Read More
Posted 29/06/2020 The Department for Business, Energy & Industrial Strategy have published a list of the rules that have been temporarily relaxed to make it easier for businesses to continue working through the disruption caused by coronavirus (COVID-19). The government has temporarily relaxed the rules in the following areas: Annual leave: Workers will be allowed…Read More
Posted 26/06/2020 The Government has outlined measures that will allow UK tourism and visitor attractions to reopen to the public. The guidance, published by the Department for Digital, Culture, Media and Sport, outlines the processes and facilities that businesses must put in place before reopening on July 4 so that both staff and visitors can…Read More
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