Article Database - Topic: 'Coronavirus' - Keyword: 'News'

 
VAT trap for private use of company vehicles Publication date: 07.07.2020
Article database » Cars » VAT
In the last few months there’s been little work for two of your employees but they’ve continued to have use of their company vans, including for personal journeys. Does this affect what you need to report on your next VAT return?
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SEISS checks - are you ready? Publication date: 07.07.2020
Article database » News » Coronavirus
You claimed a Self-Employment Income Support Scheme (SEISS) grant. While it wasn’t too tricky to qualify, that’s not the end of the story as HMRC will be checking claims further down the line. What records do you need to back up your claim?
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Reduced working hours and tax credits Publication date: 08.06.2020
Article database » Tax credits » Working tax credits
Reduced working hours and tax credits..No change. HMRC has continued to pay tax credits during the coronavirus lockdown. The government has confirmed its policy is that entitlement to Working Tax Credit (the rate of which depends on how many hours you work) won’t be affected. Working requirements. HMRC says if you’re still employed, or self-employed...
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New guidance on salary deductions Publication date: 08.06.2020
Article database » News » Payroll
There’s new guidance about deductions from pay for employees furloughed under the Coronavirus Job Retention Scheme (CJRS). What’s the full story?
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HMRC to temporarily relax rules on LISAs Publication date: 28.05.2020
Article database » Investments and savings » ISAs
HMRC to temporarily relax rules on LISAs..LISA bonus. When you invest in a Lifetime ISA (LISA) the government adds a tax-free bonus equal to 25% of the amount. Some or all of this can be reclaimed from your account if you withdraw any of your savings before you’re 60, unless it’s to go towards buying your first home. The government has reduced the...
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Tax treatment of local authority grants Publication date: 28.05.2020
Article database » Coronavirus » News
Under the coronavirus special measures, local authorities can help businesses with Small Business Grant Fund (SBGF) and Retail, Hospitality and Leisure Grant Fund (RHLGF) payments. If your business receives such a grant must it pay tax on it?
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HMRC’s approach to deadlines clarified Publication date: 28.05.2020
Article database » Penalties » Appealing against
HMRC’s approach to deadlines clarified..Too late? Deadlines are a key part of the tax system and there’s often a financial penalty for lateness. However, the rules allow some leeway if you have a “reasonable excuse” for missing a deadline for payment or submitting a document. With this in mind HMRC has issued guidance on when it will accept...
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Exemption for homeworking expenses Publication date: 28.05.2020
Article database » Employees » Home working
The government has announced a new tax exemption for employees who work from home and need to buy equipment to do their job. What’s the full story?
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Electronic publications - zero-rating fast tracked Publication date: 13.05.2020
Article database » VAT » Output tax
Electronic publications - zero-rating fast tracked.. In response to the coronavirus pandemic the government has accelerated extension of VAT zero-rating for printed matter, e.g. books, magazines etc., to their electronic equivalents. However, some types of electronic publication and audio book are excluded (see The next step ). The new zero-rating rule...
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More news on grants for self-employed Publication date: 13.05.2020
Article database » News » Coronavirus
There’s new guidance and other help for self-employed traders who want to claim the Self-employed Income Support Scheme (SEISS) grant. What’s the latest?
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Last updated: 10.08.2020
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