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06 May 2020

On 30 April 2020, HM Treasury published its Direction to HMRC giving statutory footing for the Self-employment Income Support Scheme (SEISS). The document makes it clear that one of the conditions for using the scheme is that the self-employed must have been adversely affected by reason of circumstances arising as a result of coronavirus or coronavirus disease, in order to apply.

When...

06 May 2020

It was announced as part of the Spring Budget measures that the zero rate of VAT would apply to all e-books from 1 December 2020. The date of this change has now been brought forward and came into effect on 1 May 2020. This will be a welcome boost to readers and publishers during the coronavirus outbreak.

This change will bring electronic books, magazines, newspapers and other academic...

06 May 2020

The Lifetime ISA allows those aged between 18 and 40 to save for a new home or for their retirement. Under the scheme, the government provides a 25% bonus on yearly savings of up to £4,000 and once you start saving before you are 40, you can continue using the scheme until you turn 50. The money held in a Lifetime ISA can be used to purchase a first home worth up to £450,000 anywhere in the UK...

29 April 2020

Some important changes to holiday pay arrangements came into effect from 6 April 2020. This has seen the reference period for calculating holiday pay increase from 12 to 52 weeks. This change affects workers with no fixed or regular hours. It means that their holiday pay will now be based on the average pay they received over the previous 52 (not 12) weeks. The 52 week reference period will...

29 April 2020

1 May 2020 - Due date for Corporation Tax due for the year ended 30 July 2019.

19 May 2020 - PAYE and NIC deductions due for month ended 5 May 2020. (If you pay your tax electronically the due date is 22 May 2020).

19 May 2020 - Filing deadline for the CIS300 monthly return for the month ended 5 May 2020. 

19 May 2020 - CIS tax deducted for the month ended 5 May 2020 is...

29 April 2020

Under the Coronavirus Statutory Sick Pay Rebate Scheme, small-and medium-sized businesses and employers will be able to reclaim Statutory Sick Pay (SSP) paid for sickness absence due to COVID-19. The online service to reclaim SSP is not available yet. HMRC will announce when the service is launched.

The scheme covers up to 2 weeks’ SSP per eligible employee who has been off work because...

29 April 2020

If you are self-employed and qualify for the Self-employment Income Support Scheme you will receive a cash grant from HMRC based on 80% of profits, up to £2,500 per month. The initial grant will be for the three months, from 1 March through to the end of May 2020, but could be extended for a longer period.


On 30 April 2020, HM Treasury published its Direction to HMRC giving...

29 April 2020

The Coronavirus Job Retention Scheme will now be available until at least 30 June 2020. Payments under the scheme can be backdated to 1 March 2020 for employees who met the eligibility criteria on that date.

The scheme is designed to help employers furlough their employees with significant government support. Employers can claim cash grants of up to 80% for eligible furloughed wages to...

29 April 2020

The deadline for submitting the 2019-20 forms P11D, P11D(b) and P9D is 6 July 2020. Employees must also be provided with a copy of the information relating to them on these forms by the same date. P11D forms are used to provide information to HMRC on all Benefits in Kind (BiKs), including those under the Optional Remuneration Arrangements (OpRAs) unless the employer has registered to payroll...

29 April 2020

A free HMRC tax app is available and offers some useful functionality. The app has recently been updated.

The APP can be used to see:

  • your tax code and National Insurance number
  • an estimate of the tax you need to pay
  • your income and benefits
  • how much you will receive in tax credits and when they will be paid
  • your Unique Taxpayer Reference...
29 April 2020

It was announced at the end of March that VAT registered businesses have the option to defer any VAT payments due between 20 March 2020 and 30 June 2020.

HMRC’s guidance for the deferral of VAT payments has been updated and states that you can only defer the following:

  • quarterly and monthly VAT returns’ payments for the periods ending in February, March and April
  • ...
29 April 2020

Employers that take on a new employee need to work out which tax code and starter declaration to use in their payroll software. Incorrect tax codes can lead to the new employee paying more tax than is due.

The necessary information can be collected from the employee’s P45 or by asking the new employee to complete HMRC's new starter checklist (if they do not have a recent P45). A number...

29 April 2020

HMRC has released the latest issue of the 'Employer Bulletin' publication which includes summaries of recent changes and updates that have been announced which are relevant to employers and agents.

The topics covered in the latest edition include the following:

  • Coronavirus relief measures. Updates on the Coronavirus Job Retention Scheme, COVID-19 Statutory Sick Pay Rebate...
29 April 2020

The government has announced the introduction of temporary new measures to protect commercial tenants on UK high streets from aggressive rent collection and closure during the Coronavirus pandemic.

These measures will see statutory demands and winding up petitions issued to commercial tenants to be temporarily voided. There will also be changes made to the use of Commercial Rent Arrears...

29 April 2020

The Maternity Allowance, Statutory Maternity Pay, Statutory Paternity Pay, Statutory Adoption Pay, Statutory Shared Parental Pay and Statutory Parental Bereavement Pay (Normal Weekly Earnings etc.) (Coronavirus) (Amendment) Regulations 2020 came into force on 25 April 2020. They have amended five sets of family-related payments regulations to ensure that an employee’s eligibility for statutory...

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