Furlough scheme extended

Nov 05, 2020

On 5 November, Chancellor Rishi Sunak announced that as part of the new national lockdown the Coronavirus Job Retention Scheme (CJRS) has been extended until the end of March 2021.  This announcement…

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Job Support Scheme

Oct 02, 2020

The existing job support scheme, the furlough scheme, comes to an end on 31 October. As part of the Winter Economy Plan the government announced it will be introducing a new Job Support Scheme from…

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Winter Economy Plan support for the self-employed

Oct 02, 2020

As part of the Winter Economy Plan the Self-Employment Income Support Scheme (SEISS) will be extended under the name SEISS Grant Extension. The grant:

  • will be limited to self-employed…

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VAT deferral and enhanced Time to Pay for self assessment

Oct 02, 2020

Over half a million businesses deferred VAT payments, which were due in March to June 2020, with these payments becoming due at the end of March 2021.

As part of the Winter Economy Plan the…

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Changes to the Bounce Back Loan and Coronavirus Business Interruption Loan Schemes

Oct 02, 2020

The Bounce Back Loan Scheme (BBLS) has provided support to many UK-based small businesses. Loans are between £2,000 and £50,000, capped at 25% of turnover, with a 100% government guarantee to the lender.…

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Ministers announce new grants for businesses affected by local lockdowns

Oct 02, 2020

Businesses in England that are required to shut because of local interventions will now be able to claim up to £1,500 per property every three weeks.

To be eligible for the grant, a business…

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The VAT reverse charge

Oct 02, 2020

HMRC has issued detailed guidance on the domestic reverse charge changes scheduled for 1 March 2021.

The reverse charge represents part of a government clampdown on VAT fraud. Large amounts…

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New trade arrangements with the EU from 1 January 2021

Oct 02, 2020

HMRC has sent letters to VAT-registered businesses in Great Britain trading with the EU, or the EU and the rest of the world. They explain what businesses need to do to prepare for new processes for…

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House sales rise following the introduction of stamp duty holiday

Oct 02, 2020

The government has announced that residential property transactions rose 15.6% in August following the introduction of a stamp duty holiday.

The government has announced:

  • a rise…

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