Mar 3, 2021 | Business TaxGovernment Announcements
COVID-19 support The furlough scheme will continue in its current form until 30 June 2021, ensuring furloughed workers continue to get up to 80% of their wages for the hours not worked. From 1 July 2021, employers will contribute towards the costs of unworked hours,...
Mar 3, 2021 | Business TaxPersonal Tax
COVID-19 financial support extended Jonathan Geldart, director-general of the Institute of Directors, said: "The extension to the furlough scheme will provide a vital cushion to support jobs as restrictions unwind and firms begin the costly process of rescaling....
Nov 24, 2020 | Business Tax
A temporary increase to the annual investment allowance has been extended until 1 January 2022, the Treasury has confirmed. The allowance enables firms to fully offset the cost of qualifying capital items of plant and machinery against taxable profits. Since 1 January...
Oct 16, 2020 | Business TaxCurrent Affairs
HMRC has received over 54,800 claims from customers using a new online portal which allows workers to claim tax relief for working at home.The portal, which was launched on 1 October, has been set up to process tax relief on additional expenses for employed workers...
Sep 8, 2020 | Business TaxPersonal Tax
HMRC has announced UK VAT is payable on most early contract termination and cancellation fees, in a change to its previous practice. The tax authority said following recent judgements of the European Court of Justice, it is “evident that these charges are normally...
