Help with tax for businesses during Covid-19
The Covid-19 outbreak will have delivered a sharp shock to many businesses – most obviously those in retail, hospitality and leisure, but also more widely.
Businesses which might already have been struggling with cashflow will be pushed to the brink in such circumstances. For this reason it is extremely welcome that the Government’s package of emergency measures included some tax deferrals, and assurances around giving businesses additional time to pay tax.
HMRC puts its stamp on social distancing16 April 2020
With vast numbers of people now working remotely due to COVID-19 restrictions, HMRC have put in place an electronic process for the payment of stamp duty and stamping of share transfer documents.
Covid 19 – what it means for EMI options03 April 2020
You may wonder what the current Covid 19 crisis has to do with EMI options but in fact there are a number of potential consequences.
VAT and income tax deferrals to assist VAT-paying businesses and the self-employed during Covid-19 Outbreak27 March 2020
As part of the sweeping financial package announced by the Government on 20 March 2020, the Government is offering VAT and income tax deferrals to assist with the cash-flow of VAT-paying businesses and the self-employed. These deferrals are expected to provide over £30bn of additional cash-flow to a wide variety of British businesses.
Expansion of HMRC’s “Time to Pay” Arrangements during the Covid-19 Outbreak27 March 2020
Due to the immediate and stark effect that the Covid-19 outbreak is having on a lot of businesses, the Government has reminded everyone that it often reaches arrangements with businesses in financial distress for deferred payment of their tax liabilities. While this facility is not new, the Government expects the demands on the service to increase dramatically and is therefore scaling up its capacity to deal with new enquiries.
Budget 2020 - New Kid on the Block12 March 2020
There was a sombre mood to the Budget initially, focusing as it did on measures to help deal with the coronavirus / Covid-19. Clearly the financial outlook is expected to be challenging, and our new Chancellor, Rishi Sunak, made sure to point out that the Office for Budget Responsibility forecasts have not (yet) taken the impact of Covid-19 into account.