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Extended Coronavirus Job Retention Scheme FAQ

To help you get to grips with the extended Coronavirus Job Retention Scheme (CJRS) please use our helpful FAQ. What does the CJRS offer? The Coronavirus Job Retention Scheme (CJRS) is a temporary scheme open to all UK employers until…

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Government extends furlough scheme and provides a boost to SEISS

As businesses deal with the impact of yet another national lockdown in England, the Chancellor has taken further steps to protect jobs, businesses and the self-employed by announcing additional changes to the Government’s financial support measures. Speaking in Parliament, Rishi…

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Daily penalties waived for Self-Assessment late filing

HM Revenue & Customs (HMRC) has confirmed that it will not charge the usual daily penalties for late filing of 2018-19 Self-Assessment tax returns, which were due by 31 January 2020. HMRC says the move is in response to the…

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Homebuyers need to start purchases this month to take advantage of Stamp Duty savings

Thousands of people across the UK have purchased new homes to take advantage of the Government’s Stamp Duty Land Tax (SDLT) holiday, but Legal & General Mortgage Club has warned a backlog in the sales and mortgage process means that sales…

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HMRC warns taxpayers still aren’t ready for Making Tax Digital

The Director of Making Tax Digital (MTD) at HM Revenue & Customs (HMRC) has warned that “not all taxpayers are ready for a digitalised tax system.” Roy Wallace spoke with the Institute of Chartered Accountants in England and Wales (ICAEW) about the…

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A quarter of businesses don’t think they will be ready for post-Brexit Britain

A survey of almost a thousand company directors by the Institute of Directors (IoD) has found that nearly a quarter of businesses are not prepared for Brexit and do not expect to be ready by the end of the transition…

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HMRC called on to simplify the administration of tax reliefs

The Office of Tax Simplification (OTS) is calling on HM Revenue & Customs (HMRC) to simplify the process of applying for tax reliefs so that fewer taxpayers miss out. In total, the UK has 1,190 tax reliefs, that each require…

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More than 50,000 people claim working from home tax relief through HM Revenue & Customs online portal

HM Revenue & Customs (HMRC) has received more than 50,000 claims for tax relief for working from home since opening a new online portal on 1 October. Since the start of the current tax year on 6 April 2020, employers…

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IFS predicts tax rises of more than £40 billion a year by the middle of the decade

The Institute for Fiscal Studies (IFS) has predicted that taxes will need to rise by more than £40 billion a year by the middle of the decade to prevent Government debt from growing out of control. The widely-respected think tank…

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Government extends Self-Employment Income Support Scheme and Government-backed loans

As England prepares for a four-week national lockdown, the Government has announced it will extend existing support measures to help businesses and the self-employed business community in the weeks ahead. As part of its latest support package, the Self-Employment Income…

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