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HMRC targets tax evaders and avoiders with new joint and several liability notices

The ‘joint and several liability of company directors, etc’ legislation was introduced in the Finance Act 2020 to help deliver fairness across the tax system. We examine who the new legislation applies to and how HMRC will enforce it. Who is the legislation aimed at? The purpose of the new joint and several liability legislation […]

What are the new VAT rules for online sales to EU customers?

The One Stop Shop scheme (OSS) and Import One Stop Shop scheme (IOSS) introduced in July 2021 aim to simplify the VAT compliance burden on online sellers. In this article, we look at both schemes and how they work for UK businesses. The new VAT rules, known as ‘the EU VAT e-commerce package’, comprise two […]

Government names, shames and fines employers that fail to pay National Minimum Wage

The government has named and shamed 191 employers who have paid employees less than the minimum wage, including household names such as John Lewis, Pret A Manger and The Body Shop International. The named firms have been fined for owing £2.1m to more than 34,000 workers. Business Minister Paul Scully has warned that “employers that […]

How has Covid-19 affected the completion of P11D submissions for benefits in kind?

The Covid-19 pandemic has changed the way people work and, in turn, has affected the expenses employees have incurred. What impact will this have on the annual P11Ds for 2020/2021, which are due for submission to HMRC by 6 July 2021? Employees working from home – extra costs Many employees have been forced to work […]

Government launches Help to Grow programmes for small businesses – with more to come

The government’s new Help to Grow: Management and Help to Grow: Digital programmes are designed to help small and medium-sized businesses in the UK learn new skills, reach new customers and boost profits. Help to Grow: Management has been launched this month. Help to Grow: Digital will follow in the autumn. Help to Grow: Management […]

Employers required to contribute 10% to furlough payments from 1 July

The level of grant available to employers under the Coronavirus Job Retention Scheme (furlough) is changing from 1 July 2021, with employers being required to contribute 10%. In this article, we examine the changes. In the spring Budget, the government extended the Coronavirus Job Retention Scheme (CJRS) to 30 September 2021. At the same time, […]

Fifth Self-Employment Income Support Scheme (SEISS) grant opens for claims in July

The fifth Self-Employment Income Support Scheme (SEISS) grant covering May to September 2021 opens for claims in July. This article sets out who can claim, how this fifth grant differs from the previous ones and when you can claim. The Self-Employment Income Support Scheme was introduced at the start of the pandemic to support self-employed […]

Government extends Bounce Back Loan repayment terms

The government introduced the Bounce Back Loan Scheme (BBLS) in May 2020 to help businesses access finance quickly during the Covid-19 pandemic. Businesses that took out these loans will now have more flexibility in relation to their repayment. The Bounce Back Loan Scheme (BBLS) enabled small and medium-sized businesses to borrow between £2,000 and £50,000 […]

£2,000 available for SMEs to help with new EU trade rules

A new £20m SME Brexit Support Fund offers grants of up to £2,000 to SMEs to give them the practical support they need to adjust to the new EU trading rules The fund is available to help with training and professional advice for businesses with up to 500 employees and no more than £100m in […]

Budget 2021: key points in brief

Chancellor of the Exchequer Rishi Sunak’s Budget set out the government’s plans for fixing the “acute damage” to public finances caused by the pandemic. These include new measures to help businesses and jobs through the months ahead and several tax-raising plans to rebalance the public purse. Rishi Sunak opened his Budget by saying he would […]

Stamp duty holiday expected to be extended until June in next week’s Budget

Chancellor Rishi Sunak is reported to have decided on a three-month extension of the current stamp duty holiday until the end of June 2021. After months of lobbying from the property industry, Rishi Sunak is expected to announce in next Wednesday’s Budget that the stamp duty holiday due to end on 31 March will be […]

How will Brexit affect Britons buying or selling second homes in France?

In this article, Jill Springbett considers the impact Brexit will have on Britons buying or selling a property in France now that the UK has left the European Union. France is one the most popular places in the world for Britons to own a second home, with estimates of the number of people owning properties […]

No late filing penalty for 2019-20 Self Assessment returns

HMRC have announced that Self Assessment tax payers will not receive a penalty if they file their 2019-20 tax return late, as long as they file it online by 28 February. However, HMRC say that they encourage those tax payers who are able, to file their return by 31 January. You still must pay your Self Assessment […]

Coronavirus Job Retention Scheme Extended

UK Chancellor Rishi Sunak has confirmed that he will extend the furlough scheme across the UK until the end of March 2021, to provide businesses with certainty throughout the winter. The government is extending the Coronavirus Job Retention Scheme (CJRS) to support individuals and businesses who have been adversely impacted by COVID-19. The CJRS will remain open until 31 […]

Self-Employment Income Support Scheme Grant Extension

Chancellor, Rishi Sunak, has confirmed he has extended the Self-Employed Income Support Scheme (SEISS) from 1 November 2020 to 30 April 2021. The Self-Employment Income Support Scheme Grant Extension will provide support to the self-employed in the form of two grants, each available for three-month periods covering November 2020 to January 2021, and February 2021 […]

The Kickstart Scheme

To help the economic recovery from the Coronavirus pandemic, Chancellor Rishi Sunak has announced a new Kickstart Scheme, which launches today. The Kickstart Scheme is specifically aimed at reducing youth unemployment. The scheme is backed by a £2billion fund and will pay for six-month work placements (covering overheads and wages) for 16 to 24-year-olds at […]

Reverse VAT charge for construction postponed to 2021

Following on from our blog on the 17th September 2019, the government have announced a further five-month delay to the introduction of the domestic reverse VAT charge for construction services due to the impact of Coronavirus. HMRC confirmed that the anti-fraud measure is now being postponed until 1 March 2021 in light of the Coronavirus […]

£20 million in new grants available to small businesses to boost recovery

The government has announced a £20m package of funding to help smaller businesses recover from the effects of the Covid-19 pandemic. Small and medium-sized businesses can access a small business grant of between £1,000 and £5,000 to pay for the expertise, equipment and technology they need to recover and rebuild following the coronavirus pandemic. The […]

The government has announced a £1.57bn Cultural Recovery Fund to support the country’s cultural, arts and heritage organisations following the lockdown. In this article, we examine how to apply for a Cultural Recovery Fund grant from the Arts Council. The Arts Council can make grants to organisations that were financially viable before the Covid-19 crisis […]

Making Tax Digital to be extended to create a 21st-century tax system

The government has announced plans to create a fully modernised digital tax system to boost national productivity, make it easier to pay tax, and reduce errors and fraud. In this article, we look at HMRC’s plans to extend its Making Tax Digital programme.  The government says avoidable mistakes cost the Treasury around £8.5bn a year. […]

Chancellor’s Summer Statement is a “plan for jobs” focusing on consumers and property

The Chancellor’s Summer Statement on Wednesday 8 July amounted to a £30bn mini-budget aimed at preventing mass unemployment by boosting sectors most affected by the lockdown such as hospitality, tourism and property. Chancellor of the Exchequer Rishi Sunak launched his Summer Statement on Wednesday with some sobering statistics about the state of the economy. He […]

SEISS scheme extended but claims for the first grant must be made on or before 13 July 2020

The government has announced that the Self-Employment Income Support Scheme (SEISS) is being extended and that the closing date for making a claim for the first grant under the scheme must be made on or before 13 July 2020. As we wrote about in a previous article, if you are self-employed or a member of a […]

What the government is doing to encourage the take up of electric vehicles

In the Budget 2020, the government confirmed its commitment to having a net zero emissions economy by 2050. As part of this, the Budget introduced measures to encourage the take up of electric vehicles. In this article, we examine these measures and consider recent reports that the government is considering bringing in a new scrappage […]