In April 2020, the government announced a temporary tax break for those working from home. The tax break allows for employers to pay their workers up to £6 a week tax-free to cover additional costs incurred for working from home. If an employer chooses not to pay their staff the £6 a week, workers can
The UK government recently introduced an Income Tax exemption on coronavirus antigen tests for employees. The tax exemption came into effect on 8th December 2020 and is expected to end on 5th April 2021. The Association of Taxation Technicians (ATT) is calling for the tax exemption to be extended beyond 5th April 2021. The current
Following Boris Johnson’s announcement of a third national lockdown in England, the Chancellor has announced further grants totaling £4.6 billion. A one-off grant worth up to £9,000 per property, will be available for those businesses in the retail, hospitality and leisure sectors, who have been affected by the latest coronavirus restrictions. Around 600,000 properties are
The UK Government has confirmed the Coronavirus Job Retention Scheme will be extended until the end of April 2021. The scheme was set to expire at the end of March 2021 but has now been extended for another month. Under the scheme, the government will continue to pay employees 80% of wages for hours not
The new Income Tax exemption came into effect from 8th December 2020 in relation to employers providing their employees with a coronavirus antigen test. This new temporary exemption will ensure that employees who are given a relevant coronavirus antigen test, will not be liable to an Income Tax benefit in kind charge. A benefit in
HMRC has updated its guidance on the information published for employers who make a claim under the Coronavirus Job Retention Scheme (CJRS) from 1st December 2020. HMRC is providing this information in the hope that it will deter fraudulent claims. The new guidance includes the information that HMRC will publish on employers who claim under
The government introduced the Eat Out to Help Out scheme in August which offered 50% discount of up to £10 per person. The aim of the scheme was to boost the economy after the national lockdown by allowing businesses in the hospitality sector to offer discounted meals on Mondays, Tuesdays and Wednesdays. Whilst this scheme
In an announcement today, Chancellor Rishi Sunak confirmed the Furlough Scheme will be extended until the end of March 2021. The government will pay employees, who are on the Furlough Scheme, 80% of their wages however, employers are still expected to make contributions to National Insurance and pensions for hours not worked. The scheme is
Following on from Boris Johnson’s announcement to extend the Furlough Scheme through until December, it has been further announced that the Self-Employment Income Support Scheme grant will also be extended. The scheme will last for 6 months from November 2020 to April 2021 with grants being paid in two instalments, each covering a three month
England is preparing to face another national lockdown following Boris Johnson’s announcement over the weekend (31st October ). The PM addressed the nation telling people they must stay at home from 5th November until 2nd December, when rules will be reviewed. All non-essential shops along with bars and restaurants will have to close however, schools
Earlier this week the Chancellor, Rishi Sunak, made a statement to the House of Commons to offer support to businesses who are struggling as a result of further restrictions required, due to the coronavirus pandemic. In these challenging times the Chancellor has acknowledged that additional support is required in order to keep people in jobs
The Chancellor Mr. Rishi Sunak has delivered his latest economic statement. In his announcement, The Chancellor began by acknowledging the frustration of those living in Tier 3 local lockdown areas. He then reiterated that the treasury have a plan to save jobs and backed the Prime Minister’s local lockdowns. Sunak announced the further steps he
Job Retention Bonus Clarification for Employers Following the announcement during the summer economic update by the Chancellor, Rishi Sunak, HMRC have published a policy paper on the eligibility requirements for employers seeking to claim the job retention bonuses. Employers will be able to claim for employees who: Were furloughed and had a Coronavirus Job Retention
The guidance on the CJRS has been updated, and new guidance has been published for calculating claims. The changes outlined mean that employers will be required to gradually take back responsibility for the salaries of any furloughed employees until the end of the scheme. A policy paper has been published by HMRC outlining changes to
On Friday 29 May, the Chancellor, Rishi Sunak, announced the gradual phasing out of the Coronavirus Job Retention Scheme (CJRS) with its complete conclusion set to take place on 31 October 2020. The changes outlined mean that employers will be required to gradually take back responsibility for the salaries of any furloughed employees until the
Personal Tax Update – 29/05/20 Keep up to date with the key announcements made this past week. Coronavirus (COVID-19): job retention scheme HMRC have provided further updates on the coronavirus job retention scheme (CJRS) for employees and employers to: explain that employers will be asked to detail separately the amounts for NIC, pension and wages
Personal Tax Update – 22/5/2020 In another information packed week, below is a summary of the key changes announced. Coronavirus (COVID-19): job retention scheme HMRC has updated the coronavirus job retention scheme (CJRS) guidance with several changes: the guidance note on ‘working out 80% of your employees’ wages to claim through the CJRS ’ has been
Keep up to date with the key announcements made this past week. In the ever-fast-moving world of tax announcements and developments, here we have pulled together some of the key changes announced this week. Coronavirus (COVID-19): job retention scheme extended until 31 October As at the 12 May, 7.5m employees had been furloughed under the
Keep up to date with the key announcements made this past week. In the ever-fast-moving world of tax announcements and developments, here we have pulled together some of the key changes announced this week. HMRC Guidance on job retention scheme HMRC has updated its guidance with various changes on the job retention scheme. A new section for
Chancellor Strengthens Businesses Position on Interruption Loan On 3 April the Chancellor, Rishi Sunak, gave a boost to businesses aiming to utilise the Coronavirus Business Interruption Loan Scheme (CBILS). Banks have been requesting personal guarantees for loans taken out through the CBILS, Sunak has now taken the decision to ban that requirement. The government is
Tax avoidance promoters are targeting returning NHS staff for their schemes. HMRC announced that they are aware of “unscrupulous promoters of tax avoidance schemes are targeting workers returning to the National Health Service (NHS) to help respond to the coronavirus (COVID-19) outbreak.” HMRC warned returning staff to avoid signing up to such schemes, which they
In the current emergency, anything that potentially reduces outgoing cash flow, including impending tax due dates for payment, is welcome. We have therefore outlined, opportunities within the current tax system that businesses should not overlook. Tax Deferral – HMRC Announcements Second Payment on Account instalment due on 31 July 2020 HMRC have confirmed that the
