Making Tax Digital for VAT (MTD for VAT) has been effective for businesses with turnover above the VAT threshold of £85,000 since April 2019. HMRC recently outlined its next steps, including the introduction of Making Tax Digital for Income Tax Self-Assessment. Here,...
Published on 24 September 2020, the Local Restrictions Support Grant (LRSG) helps businesses that have been required to close due to temporary COVID-19 local lockdown restrictions imposed by the government. The LRSG supports businesses that were open as usual,...
The existing self-employed grant (SEISS) will also be extended on the same basis as the job support scheme. An initial taxable grant will be provided to those who are currently eligible for SEISS and are continuing to actively trade but face reduced demand due to...
More than a million businesses who took out a Bounce Back Loan will get more repayment time through a new Pay as You Grow flexible repayment system. This includes extending the length of the loan from six years to ten, which will cut monthly repayments by nearly half....
The NHS Test and Trace service: • provides testing for anyone who has symptoms of coronavirus to find out if they have the virus; • gets in touch with anyone who has had a positive test result to help them share information about any close recent contacts they have...
Today Chancellor Rishi Sunak announced a new Job Support Scheme starting 1 November 2020 to replace the current Job Retention (“furlough”) Scheme which ends 31 October 2020. All small and medium-sized businesses are eligible, larger businesses must show their turnover...
