Archive:November 2020

Please find below all the articles from November 2020.

GUIDANCE FOR OUR CLIENTS – CORONAVIRUS (COVID-19) – CJRS/Furlough Extension – 3nd November 2020

Tuesday, November 3, 2020

After the Prime Minister’s surprise announcement late Saturday afternoon we wanted to share the limited information we have regarding The Coronavirus Job Retention Scheme extension (also known as ‘furlough’) with clients.

The below only provides guidance on the Job Retention Scheme Extension, we strongly advise clients to seek employment/HR advice prior to placing any employee(s) on furlough or extending an employee’s furlough.

Key Points:
The extension will last until December 2020.
The scheme will be based on the August 2020 rules, this means employers can claim 80% of their employees normal wages…

HMRC review of import VAT deducted as input tax by non-owners

Tuesday, November 3, 2020

HMRC have recently clarified the correct treatment for the deduction of import VAT paid by a taxable person who is not the owner of the relevant goods.

Following the publication on HMRC Brief 2 (2019), which restated the long-standing policy of who is entitled to reclaim VAT paid on imports under current UK legislation, HMRC received a number of representations from businesses and business representatives about the application of the rules in specific cases. HMRC’s have now completed their review and have confirmed that the policy outlined Brief 2…

The ‘new normal’ for Christmas parties?

Tuesday, November 3, 2020

As we approach the end of the year, thoughts may be turning towards upcoming Christmas celebrations and alike – although this year, the traditional work’s Christmas party is likely to look very different.

Whilst the tax legislation does not include a specific allowance for an employer providing a Christmas party for employees, HMRC do allow limited tax relief against the cost providing social functions. Relief will still be available even where such an event is being held in a different format due to the coronavirus restrictions – possibly even…

Covid-19: SEISS and business grants update

Tuesday, November 3, 2020

Millions of self-employed individuals have been eligible to receive direct cash grants through the government’s Self-Employment Income Support Scheme (SEISS), to help them during the coronavirus outbreak.

There are four opportunities to receive a grant under the SEISS, although the deadlines for the first two parts have now passed.

For parts three and four, the government says it will provide two taxable grants to support those experiencing reduced demand due to Covid-19 but are continuing to trade, or temporarily cannot trade. Payments will be available to anyone who was previously…

Covid-19: Job Support Scheme

Tuesday, November 3, 2020

The Chancellor originally announced details of the new Job Support Scheme (JSS) in his Winter Economy Plan, but the details have since been updated in a statement on 22 October 2020.

The JSS is the main employment support scheme from 1 November 2020, following the cessation of the Coronavirus Job Retention Scheme (CJRS). The scheme will run for six months, until April 2021.

There is no need for the employee to have been previously furloughed before 1 November 2020, or for the employer to have claimed under the CJRS.

The primary…