• Private sector off-payroll reforms given go ahead for April 2021
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    HMRC delays VAT reverse charge on construction services

    HMRC has announced a five-month delay to the introduction of the domestic VAT reverse charge for construction services, due to the impact of the coronavirus (COVID-19) pandemic on the sector. The change will now apply from 1 March 2021 and will overhaul the way VAT is payable on building and construction invoices as part of […]

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  • Women are more likely to be on low pay

    Women are more likely to be on low pay

    Research carried out by the Trades Union Congress (TUC) has suggested that women are more likely than men to be on low pay. The research showed that of an estimated 9.8 million key workers, almost two thirds are women, with 2.6 million female key workers earning less than £10 an hour, according to the TUC. […]

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  • MPs open inquiry into £155 billion of tax reliefs

    MPs open inquiry into £155 billion of tax reliefs

    The Public Accounts Committee (PAC) has opened an inquiry into the UK’s management of £155 billion of tax reliefs. The inquiry follows the February publication of a National Audit Office (NAO) report that identified over 300 such tax interventions, totalling £155 billion per year. The NAO raised concerns about the effectiveness of management of tax […]

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  • Job Retention Scheme: Chancellor announces changes

    Job Retention Scheme: Chancellor announces changes

    Chancellor Rishi Sunak has announced changes to the government’s Job Retention Scheme (JRS), which will be slowly wound down over the next few months. The changes mean businesses will be able to bring furloughed employees back on a part-time basis from 1 July. Furloughed staff will continue to get 80% of their salary throughout until […]

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  • Government borrowing at record high, data reveals

    Government borrowing at record high, data reveals

    Data published by the Office for National Statistics (ONS) has revealed that government borrowing reached a record high of £62 billion in April following heavy spending as a result of the coronavirus (COVID-19) pandemic. The deficit was larger in April than forecast for the whole of 2020 at the time of the Budget. The data […]

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  • One million apply to self-employed grant scheme in 48 hours

    One million apply to self-employed grant scheme in 48 hours

    A million self-employed workers whose income has been hit by the coronavirus (COVID-19) pandemic made 440,000 applications for government grants during the first 48 hours of the scheme being open. In total, claims of over £1.3 billion were made by 440,000 individuals through the Self-employment Income Support Scheme (SEISS) on 13 May, according to the […]

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  • Tax-Free Childcare: Government makes temporary changes

    Tax-Free Childcare: Government makes temporary changes

    The government has made temporary changes to its Tax-Free Childcare (TFC) scheme as a result of the coronavirus (COVID-19) pandemic. The temporary changes to the eligibility criteria for Tax-Free Childcare and the 30 hours free childcare scheme are designed to help families during the COVID-19 lockdown. The changes affect individuals who are on furlough; those […]

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  • HMRC updates process for obtaining Government Gateway ID
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    HMRC updates process for obtaining Government Gateway ID

    HMRC has updated the process for acquiring a Government Gateway ID for its Self-employment Income Support Scheme (SEISS). The Revenue stated that it has changed the process by which it allows taxpayers to create Government Gateway IDs in order to avoid delays. HMRC is advising individuals who need to create a Government Gateway ID to […]

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  • Coronavirus Self-Employment Income Support Scheme
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    Coronavirus Self-Employment Income Support Scheme

    HMRC has started to contact individuals who may be eligible for its coronavirus (COVID-19) Self-employment Income Support Scheme (SEISS). Individuals who are eligible will be able to claim a taxable grant worth 80% of their average trading profits, up to a maximum of £7,500. This will be paid in a single installment, according to HMRC. […]

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    Bounce Back Loan Scheme: Over 110,000 apply

    More than 110,000 small businesses applied for a Bounce Back loan on 4 May, the first day the scheme was available. Banks providing the loans said they had approved the vast majority of applications and said the money would arrive in bank accounts within 24 hours. The average loan size was £30,000. The Bounce Back […]

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