COVID-19: measures for UK businesses Northampton and Rugby : J R Watson & Co Accountants

HMRC sets out penalty regime for SEISS abuse

The fourth Self-Employed Income Support Scheme (SEISS) grant is now live and HMRC has set out the penalties for abuse.

HMRC contacting claimants for fourth self-employed grant

HMRC has confirmed it will be contacting potential claimants for the fourth Self-employment Income Support Scheme (SEISS) grant this month.

Start of new tax year ushers in raft of fiscal changes

The 6 April start of the new tax year sees important fiscal and business changes come into effect, including the introduction of the new coronavirus (COVID-19) Recovery Loan Scheme (RLS).

Payment deadline looming for self assessment taxpayers

Self assessment taxpayers must pay any outstanding tax liabilities in full or set up an online payment plan for the 2019/20 financial year by 1 April to avoid incurring penalty charges.

Business rates relief extended with £1.5 billion fund

The government is to extend business rates relief with a £1.5 billion fund targeted at those businesses unable to benefit from the current coronavirus (COVID-19) support.

The Coronavirus Job Retention Scheme (JRS)

Budget 2021 announced a further extension of the Coronavirus Job Retention Scheme to 30 September 2021.

Business rates

Budget 2021 announced a continuation of 100% business rates relief. Scotland and Wales have also made business rates relief announcements.

Self-Employment Income Support Scheme (SEISS)

Budget 2021 confirmed details of the fourth Self-Employed Income Support Grant and announced the fifth and final grant.

Restart Grants

Budget 2021 announced the introduction of Restart Grants.

Coronavirus loan schemes

Budget 2021 announced the introduction of a new government-guaranteed Recovery Loan Scheme.

Clarity needed on taxation of COVID test costs, says ICAEW

Guidance published by HMRC states that employers and employees will not be liable for any income tax or national insurance contributions (NICs) on the costs of the test.

Borrowers of Bounce Back loans given six more months for repayments

Businesses that took out government-backed Bounce Back loans to get through the coronavirus (COVID-19) pandemic will now have greater flexibility to repay their loans, the government has announced.

HMRC waives self assessment penalties for a month

Self assessment taxpayers will not be fined for late online returns if they file by 28 February, HMRC has said.

Chancellor unveils £4.6 billion lockdown grant package

Chancellor Rishi Sunak has announced a new £4.6 billion package of grants to support businesses through the latest national lockdown.

Chancellor extends furlough scheme until end of April 2021

Chancellor Rishi Sunak has extended the Coronavirus Job Retention Scheme (CJRS) until the end of April 2021.

Chancellor extends furlough scheme to end of March

Chancellor Rishi Sunak has extended the Coronavirus Job Retention Scheme (CJRS) until the end of March 2021.

Furlough scheme extended and changed for new lockdown

The Coronavirus Job Retention Scheme (CJRS) has been extended until December 2020.

Chancellor increases financial support for businesses affected by COVID restrictions

On 22 October Chancellor Rishi Sunak announced increases to the coronavirus (COVID-19) financial support measures first outlined in the Winter Economy Plan.

Job Support Scheme expanded for local lockdowns

The government's Job Support Scheme (JSS) will be expanded to protect jobs and support businesses required to close their doors due to local lockdowns.

Lockdown grants welcome but more support needed, say business groups

The government's announcement of new cash grants for businesses affected by local lockdowns has been welcomed by business groups.

Second round of grants for the self-employed opens

The Self-Employment Income Support Scheme (SEISS) has opened for applications for the second and final grant.

ICAEW warns taxpayers have 90 days to notify HMRC of overclaimed COVID-19 grants

The Institute of Chartered Accountants in England and Wales (ICAEW) has warned taxpayers that they have 90 days to notify HMRC of overclaimed coronavirus (COVID-19) grants.

Ensure interaction between VAT and Eat Out to Help Out is understood, ICAEW urges

The Institute of Chartered Accountants in England and Wales (ICAEW) has urged businesses to ensure that they understand the interaction between VAT and the government's Eat Out to Help Out scheme.

FSB calls for further help for employers as furlough wind-down begins

The Federation of Small Businesses (FSB) has called for the government to provide further help to employers as the Coronavirus Job Retention Scheme (CJRS) begins to be wound down.

More firms to benefit from CBILS following changes to loan rules

Changes to state aid rules mean that more small businesses can benefit from the government's Coronavirus Business Interruption Loan Scheme (CBILS).

Mixed picture for retail sector, CBI finds

Retail sales were broadly flat in the year to July despite three months of sharp declines, according to the monthly Distributive Trades Survey published by the Confederation of British Industry (CBI).

Public warned to watch out for top coronavirus scams

Fraudsters are exploiting people's financial concerns during the coronavirus (COVID-19) pandemic, UK Finance has warned.

NIESR calls for furlough scheme to be kept open

The National Institute of Economic and Social Research (NIESR) has called for the government to keep the Coronavirus Job Retention Scheme (CJRS) open for longer.

Committee suggests many have 'fallen through gaps in support schemes'

The Treasury Select Committee has found that over a million people have 'fallen through the gaps' of the government's coronavirus (COVID-19) support schemes.

Fifth of small firms expect poor performance in next three months, data suggests

Data published by the Federation of Small Businesses (FSB) has suggested that a fifth of small businesses expect their performance to be 'much worse' over the next three months as a result of the coronavirus (COVID-19) lockdown.

UK economy 'still stuck in first gear'

The UK's economy is 'still stuck in first gear', with many businesses operating at half their pre-coronavirus (COVID-19) capacity, according to the British Chambers of Commerce (BCC).

FRC urges companies to provide high-quality disclosures on impact of coronavirus

The Financial Reporting Council (FRC) has urged companies to provide more detailed disclosures on the impact the coronavirus (COVID-19) has had on their firm.

Claims deadline approaching for first phase of furlough scheme

Coronavirus Job Retention Scheme (CJRS) claims for periods ending on or before 30 June 2020 must be made by 31 July 2020, HMRC has reminded employers.

Lockdown has 'negatively impacted young people's labour market outcomes'

The coronavirus (COVID-19) lockdown has negatively affected young people's labour market outcomes, according to a report published by the Institute for Fiscal Studies (IFS).

Business groups cautious on easing of lockdown restrictions

Businesses groups have given a cautious response to the easing of lockdown restrictions in England announced by Prime Minister Boris Johnson last week.

Coronavirus borrowing now over £46 billion

UK businesses have now borrowed over £46 billion through the government-backed schemes that are helping firms during the coronavirus (COVID-19) crisis, according to the latest figures from the Treasury.

Homeworking creates new opportunities for cyber criminals, research finds

The rise in homeworking caused by the coronavirus (COVID-19) pandemic has created new vulnerabilities for criminals to exploit, according to research from cyber experts CyberCube and insurance broker Aon.

Welsh government to reduce LTT rate

Following the reduction in the rate of residential Stamp Duty Land Tax (SDLT), the Welsh government has announced that it will reduce the rate of Land Transaction Tax (LTT).

Scottish government to reduce LBTT rate

The Scottish government will reduce the rate of Land and Buildings Transaction Tax (LBTT) following a similar reduction to the rate of residential Stamp Duty Land Tax (SDLT) announced by Chancellor Rishi Sunak in the recent Summer Economic Update.

Recovery advice scheme launched for small businesses

A government-backed scheme to offer free online advice to help small businesses bounce back from the coronavirus (COVID-19) has been launched.

HMRC scraps benefit-in-kind charge on coronavirus tests

The government has scrapped plans to get workers to pay income tax on coronavirus (COVID-19) testing kits purchased by their employer.

Business groups react to Summer Economic Update

Business groups, including the Confederation of British Industry (CBI), the Federation of Small Businesses (FSB) and the British Chambers of Commerce (BCC) have reacted to Chancellor Rishi Sunak's Summer Economic Update.

Chancellor announces Job Retention Bonus in Summer Economic Update

On 8 July Chancellor Rishi Sunak delivered a Summer Economic Update, which outlined measures designed to boost the UK economy following the coronavirus (COVID-19) lockdown.

Chancellor to deliver Summer Economic Update

Chancellor Rishi Sunak will deliver the Summer Economic Update today, in which he will announce measures to help boost the UK economy following the coronavirus (COVID-19) lockdown.

VAT cut on PPE extended

The Treasury has extended the temporary scrapping of VAT on personal protective equipment (PPE) until the end of October.

Private sector off-payroll reforms given go ahead for April 2021

The introduction of off-payroll rules to the private sector will go ahead as planned next April after an attempt to delay them again failed in the House of Commons.

LITRG urges self-employed to check eligibility for SEISS

The Low Incomes Tax Reform Group (LITRG) has urged self-employed individuals to check their eligibility for the first round of the government's coronavirus (COVID-19) Self-employment Income Support Scheme (SEISS) grant.

FSB finds late payment crisis has worsened during coronavirus lockdown

The Federation of Small Businesses (FSB) has found that the UK's late payment crisis has worsened during the coronavirus (COVID-19) lockdown.

Furlough scheme now covering 9.3 million workers

The number of workers now furloughed under the Coronavirus Job Retention Scheme (CJRS) has risen to 9.3 million, according to the latest figures from the Treasury.

Business warned about rise in impersonation fraud

Businesses have been told to stay vigilant against the rise in impersonation fraud during the coronavirus pandemic, by trade credit insurer Atradius.

Job retention scheme closing to new entrants

HMRC is reminding businesses that the Coronavirus Job Retention Scheme (CJRS) will close to new entrants on 30 June.

Overseas VAT claims subject to COVID delays

VAT claims submitted under the Overseas Refund Scheme will be subject to delays due to changes in HMRC's working practices during the COVID-19 pandemic, the tax authority has stated.

IoD urges government to support jobs and investment after coronavirus lockdown

The Institute of Directors (IoD) has called on the government to act to support jobs and investment once the coronavirus lockdown ends.

Government-backed coronavirus lending now over £40 billion

Over £40 billion has now been borrowed through government-backed schemes designed to help businesses get through the coronavirus (COVID-19) crisis, according to the latest figures from the Treasury.

Government urged to consider emergency VAT reduction

The government has again been urged to consider an emergency VAT reduction in order to help businesses once the coronavirus (COVID-19) lockdown ends.

UK public calls for greater transparency on tax avoidance and evasion

According to an annual survey carried out by Fair Tax Mark, the UK public is using the coronavirus (COVID-19) lockdown to take 'decisive action' against tax avoidance practices.

Businesses urged to reinstate VAT direct debits

Business have been reminded to reinstate their direct debit mandates before the deferral of VAT payments due to the coronavirus (COVID-19) comes to an end on 30 June.

HMRC updates CJRS guidance for employers

On 12 June, HMRC updated its guidance for employers who have furloughed employees under the Coronavirus Job Retention Scheme (CJRS).

HMRC updates guidance for self-employed coronavirus scheme

HMRC has updated its guidance regarding the eligibility of businesses for the two Self-employment Income Support Scheme (SEISS) grants.

MPs call for VAT reduction to help firms affected by coronavirus

MPs have urged the government to reduce VAT for firms in the tourism sector in order to help them recover from the coronavirus (COVID-19) lockdown.

LITRG warns self-employed that SEISS is taxable

The Low Incomes Tax Reform Group (LITRG) has warned self-employed individuals that the government's coronavirus (COVID-19) Self-employment Income Support Scheme (SEISS) is taxable.

Government extends furlough scheme for parents on statutory leave

The government has extended the Coronavirus Job Retention Scheme (CJRS) for parents on statutory maternity and paternity leave.

£35 billion loaned to businesses through coronavirus schemes

Business loans through government-backed coronavirus support schemes have reached almost £35 billion, according to the latest figures published by the Treasury.

Business debt 'will slow economic recovery' from coronavirus pandemic, IoD warns

The Institute of Directors (IoD) has warned that business debt will hinder the economic recovery from the coronavirus (COVID-19) unless steps are taken to make the burden more manageable.

Deadline looming for new entrants to Coronavirus Job Retention Scheme

HMRC has reminded employers who intend to furlough an employee for the first time that the deadline to do so is approaching fast.

HMRC delays VAT reverse charge on construction services

HMRC has announced a five-month delay to the introduction of the domestic VAT reverse charge for construction services, due to the impact of the coronavirus (COVID-19) pandemic on the sector.

One in five highly skilled freelancers face business closure to COVID-19

A fifth of highly skilled freelances face having to close their business due to the impact of the coronavirus pandemic, according to research from the University of Edinburgh Business School.

Strong economic recovery likely, but not certain

A strong economic recovery following the coronavirus pandemic is likely although many risks and uncertainties remain, according to a report from Oxford Economics.

Over £31 billion borrowed through coronavirus schemes

Over £31 billion has been borrowed through the government-backed schemes that are providing business support during the coronavirus (COVID-19) crisis, according to the latest figures from the Treasury.

Manufacturers call for coronavirus support

The coronavirus crisis has left many manufacturers on a cliff edge and in need of government intervention, Make UK has warned.

Chancellor announces changes to Job Retention Scheme

Chancellor Rishi Sunak has announced changes to the government's Job Retention Scheme (JRS), which will be slowly wound down over the next few months.

IPSE gives cautious welcome to extension of self-employed scheme

The government's decision to extend COVID-19 support for self-employed workers has met with a cautious welcome from the Association of Independent Professionals and the Self-Employed (IPSE).

Research shows 5.2 million people have fallen victim to scams during coronavirus crisis

Research carried out by insurer Canada Life has revealed that 5.2 million people in the UK have fallen victim to scams during the coronavirus (COVID-19) pandemic.

Coronavirus Statutory Sick Pay Rebate Scheme goes live

On 26 May, HMRC opened up its Statutory Sick Pay (SSP) rebate claim service.

Government publishes revised Coronavirus Job Retention Scheme legislation

The government recently published revised legislation on the Coronavirus Job Retention Scheme (CJRS).

Survey suggests one in ten firms cannot implement coronavirus guidance safely

A survey carried out by the British Chambers of Commerce (BCC) has suggested that one in ten UK businesses feel they cannot implement government coronavirus (COVID-19) guidance safely.

IPSE urges government to extend self-employed support scheme

The government is being urged to extend its coronavirus (COVID-19) Self-employment Income Support Scheme (SEISS) for as long as self-employed individuals require it.

Future Fund launches to give start-ups coronavirus support

The government has launched its Future Fund package, which aims to support start-up businesses not eligible for other coronavirus (COVID-19) rescue measures.

Government set to launch Coronavirus Statutory Sick Pay Rebate Scheme

The government is set to launch an online service to allow employers to recover the Statutory Sick Pay (SSP) payments they have made to their employees during the coronavirus (COVID-19) pandemic.

Loan size increased to £200 million under large business interruption scheme

The government is extending the maximum loan size available through the Coronavirus Large Business Interruption Loan Scheme (CLBILS) from £50 million to £200 million.

BCC survey suggests firms ready for gradual reopening of UK economy

The latest Coronavirus Business Impact Tracker survey carried out by the British Chambers of Commerce (BCC) has suggested that UK businesses are ready for a gradual reopening of the UK economy and will 'embrace the new normal'.

One million apply to self-employed grant scheme in 48 hours

A million self-employed workers whose income has been hit by the coronavirus (COVID-19) pandemic made 440,000 applications for government grants during the first 48 hours of the scheme being open.

Close to £15 billion lent through government's coronavirus schemes

Almost £15 billion has now been borrowed through government-backed schemes designed to help businesses get through the coronavirus (COVID-19) crisis, according to the latest figures from the Treasury.

Chancellor extends Job Retention Scheme until October

Chancellor Rishi Sunak has extended the Coronavirus Job Retention Scheme (JRS) until the end of October.

Self-employed grant scheme to open to applications

Self-employed workers whose income has been hit by the coronavirus crisis can apply for grants from the government from 13 May.

HMRC extends tax appeal deadline due to pandemic

HMRC has granted taxpayers extra time to appeal its decisions or penalties where the usual 30-day deadline cannot be met due to the coronavirus pandemic.

Business groups need more guidance and financial support for return to work

Business groups are asking for more guidance and continued financial support after Prime Minister Boris Johnson began easing the coronavirus lockdown.

UK Finance warns firms over Bounce Back loan repayments

Trade body UK Finance has warned small businesses to consider their ability to repay a Bounce Back loan before taking one out.

Chancellor outlines Winter Economy Plan

A new emergency jobs scheme will be introduced to protect jobs during the coronavirus (COVID-19) downturn this winter, Chancellor Rishi Sunak has announced.

HMRC publishes guidance on claiming Job Retention Bonus

HMRC recently published guidance on the eligibility requirements for the Job Retention Bonus.

HMRC begins contacting individuals eligible for coronavirus income support scheme

HMRC has started to contact individuals who may be eligible for its coronavirus (COVID-19) Self-employment Income Support Scheme (SEISS).

Over 110,000 businesses apply for Bounce Back loans on day one

More than 110,000 small businesses applied for a Bounce Back loan on 4 May, the first day the scheme was available.

Government changes ISA rules to help individuals affected by coronavirus

The government has altered the Lifetime ISA rules to help those adversely affected by the coronavirus (COVID-19) pandemic.

Business leaders eager for lockdown to ease, says IoD

According to the Institute of Directors (IoD), business leaders are eager for information on how and when the coronavirus (COVID-19) lockdown will ease as fears grow over the long-term outlook for the UK economy.

Lenders relax evidence requirements for business interruption loan scheme applications

The UK's seven largest small business lenders have relaxed their evidence requirements for applications to the Coronavirus Business Interruption Loan Scheme (CBILS).

CIPD urges government to make Coronavirus Job Retention Scheme more flexible

The Chartered Institute of Personnel and Development (CIPD) has urged the government to modify the Coronavirus Job Retention Scheme (CJRS) and make it more flexible so that furloughed employees are allowed to carry out work on reduced hours for their existing employer where possible.

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COVID-19: measures for UK businesses