News
More than 50,000 people claim working from home tax relief through HM Revenue & Customs online portal
19 November 2020
HM Revenue & Customs (HMRC) has received more than 50,000 claims for tax relief for working from home since opening a new online portal on 1 October. Since the start of the current tax year on 6 April 2020, employers have been permitted to pay employees up to £6 a week in respect of the additional costs of working from home.
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HMRC called on to simplify the administration of tax reliefs
19 November 2020
The Office of Tax Simplification (OTS) is calling on HM Revenue & Customs (HMRC) to simplify the process of applying for tax reliefs so that fewer taxpayers miss out. In total, the UK has 1,190 tax reliefs, that each require taxpayers to claim or make an election to benefit from them. The OTS in its report has considered the...
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A quarter of businesses don’t think they will be ready for post-Brexit Britain
19 November 2020
A survey of almost a thousand company directors by the Institute of Directors (IoD) has found that nearly a quarter of businesses are not prepared for Brexit and do not expect to be ready by the end of the transition period on 31 December 2020. A further 21 per cent said they were still not ready, but hoped to be prepared by the...
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HMRC warns taxpayers still aren’t ready for Making Tax Digital
19 November 2020
The Director of Making Tax Digital (MTD) at HM Revenue & Customs (HMRC) has warned that “not all taxpayers are ready for a digitalised tax system.” Roy Wallace spoke with the Institute of Chartered Accountants in England and Wales (ICAEW) about the implementation of the new digital tax system after HMRC was criticised by the Public...
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Homebuyers need to start purchases this month to take advantage of Stamp Duty savings
19 November 2020
Thousands of people across the UK have purchased new homes to take advantage of the Government’s Stamp Duty Land Tax (SDLT) holiday, but Legal & General Mortgage Club has warned a backlog in the sales and mortgage process means that sales need to be completed quickly. The SDLT holiday announced earlier this year, ends in March 2021.
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Daily penalties waived for Self-Assessment late filing
19 November 2020
HM Revenue & Customs (HMRC) has confirmed that it will not charge the usual daily penalties for late filing of 2018-19 Self-Assessment tax returns, which were due by 31 January 2020. HMRC says the move is in response to the Coronavirus pandemic and the challenging circumstances taxpayers have faced in recent months.
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Furlough scheme update – Publication of claims and employees serving notice
16 November 2020
HM Revenue & Customs (HMRC) has confirmed that employees serving notice cannot be claimed for from the Coronavirus Job Retention Scheme (CJRS) from 1 December 2020 onwards. It has also confirmed further details of plans to disclose details of claims made by employers from December onwards.
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Extended Coronavirus Job Retention Scheme FAQ
11 November 2020
To help you get to grips with the extended Coronavirus Job Retention Scheme (CJRS) please use our helpful FAQ. What does the CJRS offer? The Coronavirus Job Retention Scheme (CJRS) is a temporary scheme open to all UK employers until 31 March 2021 that is designed to support employers whose operations have been severely affected by the pandemic.
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Government extends furlough scheme and provides a boost to SEISS
05 November 2020
As businesses deal with the impact of yet another national lockdown in England, the Chancellor has taken further steps to protect jobs, businesses and the self-employed by announcing additional changes to the Government’s financial support measures. Speaking in Parliament, Rishi Sunak announced further changes to the Coronavirus...
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Government extends Self-Employment Income Support Scheme and Government-backed loans
03 November 2020
As England prepares for a four-week national lockdown, the Government has announced it will extend existing support measures to help businesses and the self-employed business community in the weeks ahead. As part of its latest support package, the Self-Employment Income Support Scheme (SEISS) and the various Government-backed...
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