“Record” number of employers reduce headcount over last three months, FSB reveals

30 Oct 2020

A “record” number of firms say they have reduced headcounts over the last three months as a result of Covid-19 disruption, a major study has revealed.

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Working parents struck by Covid-19 will be allowed to continue claiming Tax-Free Childcare, HMRC confirms

29 Oct 2020

Working parents who fall under the income threshold to claim Tax-Free Childcare as a result of Covid-19 will be allowed to continue receiving relief, it has been announced.

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British Airways handed “biggest ever” fine under General Data Protection Act

28 Oct 2020

British Airways (BA) has been fined £20 million after “failing to protect” the personal data of more than 400,000 of its customers, it has been announced.

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Self Assessment: HMRC recommends completing online returns ahead of the deadline

26 Oct 2020

Self Assessment individuals have 97 days left to complete their tax returns online before the deadline, but HM Revenue & Customs (HMRC) recommends completing it as early as possible.

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Employers prepare to move to Job Support Scheme as Coronavirus Job Retention Scheme winds down

23 Oct 2020

Employers currently using the Coronavirus Job Retention Scheme (CJRS) should prepare to transition to the new Job Support Scheme from the start of next month, HM Revenue & Customs (HMRC) has said.

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HM Revenue & Customs publishes further details of the Job Support Scheme

23 Oct 2020

HM Revenue & Customs (HMRC) has published further details of the Job Support Scheme Open (JSS Open), announced by the Chancellor during his Winter Economy Statement in Parliament on 24 October and expanded upon in his later announcement in Parliament to support the new tiered COVID-19 approach. The JSS Open is intended to support businesses […]

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Annual Investment Allowance – Time is running out

23 Oct 2020

Since 1 January 2019, the Annual Investment Allowance (AIA) for capital allowances has been £1 million – helping businesses to invest tax efficiently. However, from 1 January 2021, the AIA will fall back to just £200,000, reducing the amount of tax that can potentially be saved. By using the AIA, businesses can claim against most […]

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Accounting for mobile phone use

23 Oct 2020

During the last few months, to assist workers with working from home, many businesses have supplied a work mobile phone, but how should they account for this benefit? Typically, the provision of equipment, such as a mobile, could be considered a benefit in kind for tax purposes, however, an employee can benefit from an employer-provided […]

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Time to prepare (once again) for the VAT reverse charge

23 Oct 2020

In just a few months, more than 150,000 businesses connected to the construction industry will have to make a fundamental change to how they manage their VAT affairs. Although the world has been in lockdown, and with it, parts of the construction sector, the Government still intends to launch the VAT domestic reverse charge for […]

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Is the Government considering a National Living Wage freeze?

23 Oct 2020

New reports have suggested that the Treasury may be considering postponing a planned increase to the National Living Wage (NLW) rates next year. Under plans outlined last December by then Chancellor, Sajid Javid, the legal minimum wage paid to workers over the age of 25 was due to rise by 6.2 per cent from £8.72 […]

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