CORONAVIRUS - 21.10.2020
More grants for the self-employed
HMRC has published guidance on two new coronavirus- related grants for the self-employed that it will be administering. Who will be entitled to claim and when?
CORONAVIRUS - 21.10.2020
Test and Trace support payments - tax and NI
Lump sum payment. If on or after 28 September 2020 you’re asked to self-isolate, you’re entitled to a lump sum payment of £500 if: you were notified by NHS Test and Trace you are employed or self-employed (this includes being a member of a partnership) you can’t work from home and will lose income as a result; and you’re receiving Universal Credit, Working Tax Credit, income-based Employment and Support Allowance, income-based Jobseeker’s Allowance, Income Support, Housing Benefit and/or Pension Credit. Tip. The Test and Trace support payments are managed by local authorities. If you think you qualify, check your local authority’s website for details on how to make a claim. ...
VAT - 21.10.2020
Tax-free shopping to end
No more refunds. At the end of September the government announced the end of the VAT Retail Export Scheme (VAT RES) with effect from 1 January 2021. This means that overseas visitors will no longer be entitled to a VAT refund on items they buy in England, Scotland or Wales which they take home in their luggage. The decision was made after a public consultation which addressed several key questions regarding VAT RES (see The next step ). However, the change doesn’t mean the end of VAT-free sales. ...
COMPANY VANS - 24.09.2020
When is a van a car?
The Court of Appeal has issued a ruling which means that some crewcab vans are to be treated as cars for benefit-in-kind purposes. What was the key finding and what should you warn clients of?
P11D - 24.09.2020
Coronavirus pressures hits HMRC system
Realocation. The deadline for filing the annual Form P11D is 6 July each year. However, due to HMRC staff being reallocated to prioritise helping businesses with coronavirus support for much of mid-2020, a huge backlog has built up in other areas and departments. ...
CARS - 24.09.2020
New advisory rates from 1 September 2020
Back to work. With so many employees working from home during the lockdown, it is easy to overlook things like mileage allowance rates. However, with the country slowly getting back to offices and other places of work, it’s a good time to take stock of such things. The advisory rates for company-owned vehicles change on a quarterly basis. ...