News & views

HM Revenue and Customs (HMRC) has just confirmed that they are allowing an extension to the deadline for implementing full digital links for Making Tax Digital (MTD) for VAT, therefore extending the soft landing period.

Under the Job Retention Scheme, announced by the Government on 20 March 2020, all UK employers will be able to access support to allow them to continue paying part of their employees’ salary for those employees’ that would have otherwise been laid off during the crisis.

 

The Government have confirmed that commercial tenants who can not pay their rent because of COVID-19 will be protected from eviction.

The Government have announced that the option to defer the second tax payment on account, due on 31 July 2020, is available to all self assessment tax payers.

The Government announced yesterday, 26 March 2020, the introduction of the self-employment Income Support Scheme.  This scheme is to provide financial help to self-employed individuals, including members of a partnership, who have lost income due to the coronavirus.
 

All UK businesses are eligible to defer VAT payments for 3 months if required in the period 20 March 2020 until 30 June 2020.

Due to the disruption caused by COVID-19 and uncertain times facing businesses, Companies House have made some measures to help ease the burden regarding the filing of accounts. 

All businesses and self-employed people in financial distress, and with outstanding tax liabilities, may be eligible to receive support with their tax affairs through HMRC’s ‘Time To Pay’ service.

A new temporary Coronavirus Business Interruption Loan Scheme, delivered by the British Business Bank, will launch this week to support primarily small and medium-sized businesses to access bank lending and overdrafts.
 

In view of the challenges and disruption resulting from the Coronavirus (COVID-19) pandemic, we would like to wish you well and update you on our plans to minimise disruption to the services we provide.