COVID-19 Update #77: Income tax and National Insurance will be applied to SEISS grants
The Self-Employment Income Support Scheme (SEISS) is one of the many grants introduced by the UK government in a bid to help struggling business survive the COVID-19 outbreak. Within days of the scheme opening, the number of applications topped one million. As of 21... read more COVID-19 Update #76: HMRC resumes investigations after COVID-19
After temporarily pausing tax investigations because of COVID-19, HMRC has announced that they are now back up and running. High on its list of priorities is targeting those who have misused the Coronavirus support schemes. As of 29 May 2020, HMRC revealed that 1,868... read more COVID-19 Update #71: Parents returning to work after extended leave eligible for furlough
People on paternity and maternity leave who return to work in the coming months will be eligible for the government’s furlough scheme, HM Treasury announced 9 June. In essence: Parents on statutory maternity and paternity leave who return to work in the coming months... read more 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