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Companies House has announced that it will be restarting the voluntary strike off process from 10 September 2020 to dissolve companies that have applied for dissolution.

Important dates for your diary 

In an attempt to address the financial difficulties of businesses in the hospitality and tourism industries, Rishi Sunak also announced a range of VAT reductions on selected supplies for these sectors.
Summary of the changes are set out below:

Recent economic forecasts for 2020 published by H M Treasury will do little to inspire business confidence. In their comparison of independent forecasts published last month, the unemployment rate is estimated to rise to 8% and in the same period, GDP falls by 9%.

The Chancellor has written to the OTS (Office of Tax Simplification), to ask the OTS to undertake a review of Capital Gains Tax and aspects of the taxation of chargeable gains, in relation to individuals and smaller businesses.
 

If you have furloughed any employees during the period ended 30 June 2020 and you are eligible to make a furlough claim under the job retention scheme, you must do so BY 31 JULY 2020.

As part of the “Legislation day” announcements on 21 July, the government set out its planned roadmap for the further roll out of Making Tax Digital (MTD).  The announcement covered VAT, income tax and corporation tax.

As part of the continuing government response to the Coronavirus, Chancellor Rishi Sunak has announced a raft of measures to support the UK economy in a special summer economic update.

 

If you've been impacted by the coronavirus pandemic, you can defer your self-assessment payment on account to 31 January 2021.
 

Furlough has successfully targeted lower income areas of the UK according to analysis of take up of the Government's job retention scheme.