COVID-19: The key dates for your tax diary

01 Jul 2020

There are a number of Government support measures to help businesses through the coronavirus pandemic, as well as various business tax obligations being deferred. However, it can be difficult to keep track of all of the dates, deadlines and requirements, with many being amended, delayed or deferred over the past few months.

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COVID-19: UK businesses owed more than £133 billion since lockdown began

24 Jun 2020

UK businesses are owed more than £133 billion since the lockdown measures began in March, with the average business waiting on £148,917 for work that was completed before the lockdown.

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COVID-19: Government’s Bounce Back Loan Scheme distributes £23 billion in finance

17 Jun 2020

The Government’s Bounce Back Loans Scheme has provided more than £23 billion in finance to more than 780,000 businesses, according to the latest research.

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Trade Credit Reinsurance scheme to support 630,000 UK businesses

05 Jun 2020

More than 630,000 UK businesses have been given the confidence to trade during Covid-19 after the Government announced guarantees of up to £10 billion to Trade Credit Insurance schemes.

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HMRC updates tax guidance for waiving income and bonuses and charitable giving

02 Jun 2020

HM Revenue & Customs (HMRC) has updated its guidance for people choosing to waive their income to support their business or a charity during the COVID-19 pandemic.

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What happens if my employees have to self-isolate following contact tracing?

28 May 2020

Following the launch of the Government’s contact tracing system, employers should be prepared for the possibility of multiple employees being required to self-isolate if one employee from the workplace tests positive for Coronavirus. This means it is vital that employers are aware of the arrangements concerning Statutory Sick Pay (SSP) and self-isolation. Changes to the […]

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New Corporate Insolvency and Governance Bill to extend accounting deadlines

22 May 2020

The new Corporate Insolvency and Governance Bill will help maximise your business’ chance of survival throughout the coronavirus pandemic, it has been suggested.

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Changes to notifying an option to tax (VAT) on land and buildings during the Coronavirus pandemic

21 May 2020

HM Revenue & Customs (HMRC) has made temporary changes to the time limit and rules for notifying an option to tax (charge VAT on) land and buildings. Normally, when notifying HMRC of a decision to opt to tax land and buildings, you usually have 30 days to contact the tax authority either by printing and […]

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Money laundering supervision payment deferrals and deregistration announced by HM Revenue & Customs

21 May 2020

Businesses that require money laundering supervision from HM Revenue & Customs (HMRC) can receive a six-month payment deferral or deregistration where an annual fee is due between 1 May and 30 September 2020, it has been announced. HMRC is the money laundering supervisory authority for: money service businesses not supervised by the Financial Conduct Authority […]

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Tax treatment of expenses and benefits during COVID-19

21 May 2020

The Government has updated its guidance on taxable expenses and benefits when they are paid to employees during the Coronavirus crisis and how employers should report them to HM Revenue & Customs (HMRC). The new guidance provided relates to income tax treatment only and not National Insurance Contributions, which may vary depending on the individual […]

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