The next phase of the customs grant scheme is now open for applications. It sees a record £50 million investment as part of the measures to accelerate growth of the customs intermediary sector and help meet the increased demand it will see from traders at the end of the transition period.
Broadly, there are three grants available to help businesses complete customs declarations.
A business can apply to get funding for:
– training that helps the business to complete customs declarations and processes;
– hiring new staff to help the…
In the current difficult economic client, employees may need to approach their employer for financial assistance in the form of a loan. Under the strict letter of the law, a tax charge will arise where a director or employee obtains a benefit by reason of their employment when they, or any of their relatives, is given a cheap or interest-free loan. The tax charge generally arises on the difference between interest at the appropriate ‘official rate’ (currently 2.25%) and the interest, if any, actually paid. Such loans are…
The Government currently provides a career transition package to service personnel leaving the Armed Forces which supports around 86% into employment. However, 6% of veterans using the service remain unemployed up to a year after leaving. The Government made a manifesto pledge to back veterans, by scrapping employer National Insurance Contributions (NICs) for a full year for every new employee who has left the Armed Forces. This policy is now being developed and is expected to take effect from April 2021.
HMRC have launched a consultation entitled Supporting veterans’…
The Self-Employment Income Support Scheme (SEISS) claims service for the second and final grant is open from 17 August 2020. Individuals eligible for the second and final grant, where their business has been adversely affected on or after 14 July 2020, can make a claim on or before 19 October 2020.
HMRC will provide claimants with a date from which individual claims can be made.
The second part of the grant is based on 70% of earnings and capped at £6,570.
Who can claim?
Anyone who is self-employed or a partner in…