VAT deferral refund available

15 Jun 2020

Taxpayers that wished to defer VAT payments, but did not cancel their Direct Debits in time can claim a refund, according to HM Revenue & Customs (HMRC). The tax authority has confirmed that taxpayers that intended to defer VAT payments due between 20 March 2020 and 30 June 2020 that were unable to cancel their […]

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Trade Credit Insurance backed by £10 billion guarantee

15 Jun 2020

The Government will provide up to £10 billion of guarantees to Trade Credit Insurance schemes for business-to-business transactions. The spending commitment, known as the Trade Credit Reinsurance scheme, has been agreed following extensive discussions with the insurance sector. The new scheme will be available temporarily for nine months and backdated to 1 April 2020 for […]

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Guidance on exceptional circumstances for higher rate SDLT refunds updated

15 Jun 2020

HM Revenue & Customs (HMRC) guidance that sets out the exceptional circumstances allowing homeowners to claim higher rate Stamp Duty Land Tax (SDLT) refunds beyond the usual timeframes has been updated. The updated guidance means that homeowners in England and Northern Ireland can now claim a refund in respect of the three per cent higher […]

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Whistleblowers make almost 2,000 allegations of furlough fraud

15 Jun 2020

Figures show that almost 2,000 allegations of furlough fraud have been made by whistleblowers against employers, with HM Revenue & Customs (HMRC) expected to impose steep penalties on businesses and directors found to have abused the scheme. Such claims come in several forms, including requiring furloughed employees to work, failing to pass the full value […]

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Employees returning from parental leave continue to be eligible for furlough scheme

15 Jun 2020

Employees returning from statutory maternity and paternity leave in the next few months will remain eligible for furlough through the Coronavirus Job Retention Scheme (CJRS). Since 10 June, it has no longer been possible to furlough an employee for the first time, with the Government set to introduce part-time furlough from 1 July onwards. To […]

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High Streets Task Force launches to provide “invaluable advice” to businesses affected by COVID-19

12 Jun 2020

A new package of support will help high street businesses “get back on their feet” following the coronavirus lockdown, the Government has said.

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Businesses access £35 billion through COVID-19 support schemes

11 Jun 2020

The Government has now delivered almost £35 billion in corporate finance to businesses affected by COVID-19, it has been revealed.

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VAT reverse charge for the construction industry postponed until March 2021

08 Jun 2020

The Government has officially announced that the introduction of the domestic VAT reverse charge for the construction industry has been delayed until 1 March 2021 because of the impact of the coronavirus pandemic.

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