More than 84,700 food and drink establishments took part in the Eat Out to Help Out (EOTHO) scheme, according to the Treasury’s latest figures. This resulted in 130,000 claims at the end of the scheme and is estimated to have cost the Treasury around £522 million. The claims system was set up quickly by HM Revenue […]
Virtual Christmas parties eligible for £150 annual function exemption
HM Revenue & Customs (HMRC) has confirmed that virtual Christmas parties will be eligible for the £150 annual function exemption that employers often put towards in-person festivities at this time of year. Typically, employers can make use of the exemption for a Christmas party, as long as it is open to all employees, or all […]
Grandparents set to increase gifting following pandemic and families set to inherit more than expected
A pair of studies have revealed that UK grandparents are reconsidering their plans following the Coronavirus pandemic, which may mean that many families are set to inherit more than they expected to. A survey of 2,006 grandparents, carried out by an investment firm, found one in seven are reassessing how they will pass on their […]
Coronavirus furlough and loan schemes further extended
As businesses prepare to enter a new year, the Chancellor Rishi Sunak has confirmed a further extension to the Government-backed loans and Coronavirus Job Retention Scheme (CJRS). In a move that the Chancellor said would provide “certainty for millions of jobs and businesses”, the Government has extended the furlough scheme until the end of April […]
Government has instructed fraudulent coronavirus loan applications to be reported
To get ahead of the anticipated rise in company collapses next year, the Insolvency Service has instructed insolvency practitioners to report all fraudulent coronavirus loan applications to them. This executive agency of the Department for Business, Energy and Industrial Strategy, has written to companies warning that “if it appears that a person has applied fraudulently” […]
CJRS: Deadline for November claims fast approaching
Claims under the Coronavirus Job Retention Scheme (CJRS) for November must be submitted no later than 14 December 2020, it has been cautioned.
HMRC may waive penalties on late corporation tax returns caused by Covid-19 disruption, ICAEW reveals
HM Revenue & Customs (HMRC) may waive penalties for businesses who file late corporation tax returns as a result of Covid-19 disruption, it has been revealed.
HMRC updates Statutory Residence Test due to COVID-19
New guidance has been issued by HM Revenue & Customs (HMRC) which alters how the Statutory Residence Test (SRT) for tax will operate as a result of the COVID-19 pandemic. The latest COVID-19 guidance is likely to affect taxpayers’ ability to move freely into and out of the UK, which could affect their status under […]
Coronavirus: Pubs in tier two and three areas set to receive new £1,000 grant funding
Pubs that principally serve alcohol in tier two and three areas are set to receive additional financial support over the Christmas period following an announcement by the Government.