News
Guidance for the fifth round of the Self-Employment Income Support Scheme (SEISS) published
09 July 2021
HM Revenue & Customs (HMRC) has published detailed guidance for the fifth round of the Self-Employment Income Support Scheme (SEISS), which will open for claims in the coming weeks. Instead of announcing a specific date on which the new round of the scheme will go live, HMRC will contact self-employed individuals it has...
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What the Northern Ireland protocol extension for “chilled meats” means for British businesses
08 July 2021
It was revealed last week that an extension to the Northern Ireland Protocol grace period for chilled meats had been agreed upon. But what does this mean for businesses exporting goods to Northern Ireland? Here’s what you need to know.
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Subsidy Control Bill set to replace “bureaucratic” EU State Aid regime
01 July 2021
New State Aid rules will eliminate red tape and give British businesses greater access to financial support, the Government has revealed. The report comes after the Subsidy Control Bill was introduced to Parliament on 30 June 2021. According to the Department for Business, Energy & Industrial Strategy (BEIS), the new laws...
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CJRS – Upcoming changes to payments and the furlough scheme
24 June 2021
The Coronavirus Job Retention Scheme (CJRS) continues to support many businesses, who are reliant on the financial support it offers to cover the costs of staff on furlough. Extended earlier this year in the Budget, support from the CJRS will slowly be withdrawn in the next three months before closing altogether...
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Preparing for the end of the Stamp Duty Holiday
24 June 2021
Introduced in July 2020, the Stamp Duty Land Tax (SDLT) Holiday has helped hundreds of homeowners and investors to reduce the cost of purchasing a new property. However, the higher SDLT thresholds will change from 1 July increasing the cost of buying or transferring a home. From the beginning of July, the SDLT rules...
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Government extends ban on commercial evictions until March 2022
24 June 2021
The Treasury has reassured many distressed business owners by confirming that a moratorium on commercial evictions introduced in April 2020 will now be extended for another year. The ban, introduced more than a year ago, has already been extended twice and was due to expire at the end of June but will now remain in place...
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Fifth round of the Self-Employment Income Support Scheme to launch in late July
24 June 2021
The fifth round of the Government’s Self-Employment Income Support Scheme (SEISS) will launch in late July, HM Revenue & Customs (HMRC) has confirmed. This round of the SEISS will differ from previous rounds as it will be paid at two different rates, which depend on the reduction in turnover a self-employed individual...
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Businesses can still access the Recovery Loan Scheme
24 June 2021
Businesses affected by Coronavirus can still access the Recovery Loan Scheme (RLS) launched in April, despite the closure of applications for other Government loan schemes, including the Coronavirus Business Interruption Loan Scheme (CBILS). The RLS opened for application on 6 April 2021, following the closure of...
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UK and Spain set to review Gibraltar tax residency agreement
17 June 2021
The UK and Spain are set to review how residents and companies based in Gibraltar are treated for tax purposes in a bid to tackle tax avoidance, it has been announced. It comes after the Joint Coordinating Committee and Liaison Body met last month to discuss tax co-operation between the authorities of Spain and Gibraltar...
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Make sure to include SEISS grants on your next tax returns
14 June 2021
People who enrolled in the Self-Employment Income Support Scheme (SEISS) have been reminded that they must include income from their grants on tax returns to HM Revenue & Customs (HMRC), as it is subject to Income Tax and National Insurance. They should liaise with their accountants so an accurate return can be sent to HMRC...
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