COVID-19 Update #70: Businesses need to reinstate VAT direct debits
If you are a UK VAT registered business and have a VAT payment due between 20 March 2020 and 30 June 2020, you have the option to: defer the payment until a later date pay the VAT due as normal HMRC will not charge interest or penalties on any amount deferred as a... read more COVID-19 Update #69: How circumstances affect the self-employment income support scheme
The Self-Employment Income Support Scheme currently allows you to claim a taxable grant worth 80% of your average monthly trading profits, paid out in a single instalment covering 3 months’ worth of profits, and capped at £7,500 in total. If you are self-employed or... read more COVID-19 Update #19: Self-Employment Grant – Factsheet
On 26 March 2020 the Chancellor announced a new grant scheme available to the self-employed and members of partnerships and have lost income due to coronavirus. This factsheet is based on the limited details announced by HMRC as at 30 March 2020. Broadly the new... read more