News

Self-Employed and Job Retention Scheme changes

30/05/2020 – On Friday afternoon, in the Government's daily news briefing, the Chancellor outlined how the Coronavirus Job Retention Scheme will operate moving forward to allow for employees to return to work part time. Following that announcement, self-employed workers got a boost when it was revealed that they will be able to get Government … More...

Additional funding for charities and social enterprise

26/05/2020 – The government's dormant assets scheme allows money in accounts that have been dormant for at least 15 years to be made available for certain qualifying charitable and community causes. The Culture Secretary, Oliver Dowden has announced that £150 million from dormant bank and building society accounts is to be unlocked to help … More...

Further support for charities from VAT receipts

26/05/2020 – It has been revealed by HM Treasury that the VAT collected on donated personal protective equipment (PPE) will be given to charities supporting the NHS and care workers. This measure will apply to all the VAT collected on donations made from 1 March until 30 April - the period between PPE donations starting and when the temporary zero VAT … More...

Apply for NIC Childcare Credits

26/05/2020 – National Insurance credits can help qualifying applicants to fill gaps in their National Insurance record. This can assist taxpayers to build up the amount of qualifying years of National Insurance contributions which can increase the amount of benefits a person is entitled to such as the State Pension. National Insurance credits are … More...

Reimbursing expenses for home office equipment

26/05/2020 – HMRC has updated its guide for employers who have employees working from home due to the COVID-19 outbreak. This could be a result of the workplace being closed or because employees are following government advice to self-isolate. The updated guidance reflects temporary changes to the rules for reimbursing employees for the purchase of … More...

Employee car ownership schemes

26/05/2020 – An Employee Car Ownership Scheme (ECOS) is a set of arrangements whereby employees acquire cars from a specified, often single source and within a specified financing framework. The use of an ECOS can effectively be seen as a halfway measure between providing a company car and leaving an employee to make all their car arrangements … More...

New HM Treasury instructions re CJRS

26/05/2020 – The Chancellor, Rishi Sunak has made a further Treasury Direction under sections 71 and 76 of the Coronavirus Act 2020 concerning the Coronavirus Job Retention Scheme (CJRS). The CJRS currently helps employers furlough their employees with significant government support. Employers can currently claim cash grants of up to 80% for eligible … More...

Estate Agents who may be exempt from Money Laundering registration

26/05/2020 – HMRC is responsible for the money laundering supervision of a number of businesses including estate and lettings agents. Estate agency businesses that HMRC is responsible for supervising should be aware of the requirement to register with HMRC and the penalties for not doing so. It is a criminal offence to trade as an estate agency or … More...

Rules on waiving income or donating to charities

26/05/2020 – HMRC has published a new press release that provides some advice for people choosing to give up their income to support their business or donate to charity during the Coronavirus (COVID-19) pandemic. Employers, directors and employees have several options to support a business or employer, including: Waiving their salary or bonuses … More...

New advisory fuel rates published

26/05/2020 – Advisory fuel rates are intended to reflect actual average fuel costs and are updated quarterly. The rates can be used by employers who reimburse employees for business travel in their company cars or where employees are required to repay the cost of fuel used for private travel. HMRC accepts there is no taxable profit and no Class 1A … More...

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