The government has announced £20m of funding as part of their drive to boost the recovery of the economy and provide small and medium sized enterprises (SMEs) help to adapt their businesses following the Coronavirus pandemic.
The Kickstart Scheme is a £2 billion fund to incentivise the creation of hundreds of thousands of quality 6-month work placements for young people aged 16-24, who are claiming Universal Credit. Businesses of any size looking to recruit young people can apply.
HM Revenue & Customs have issued new guidance on how businesses will become eligible for the Coronavirus Job Retention Scheme Bonus of £1,000 for every employee previously furloughed who remains continuously employed until the end of January 2021.
HM Revenue & Customs has published new guidance for those who self-employed or a member of a partnership and having a new child affected their trading profits or total income reported for the 2018/19 tax year and it affected their entitlement to the Self Employed Income Support Scheme (SEISS).
In an attempt to kickstart the hospitality industry following the decline in customer numbers the Government has decided to incentivise the public to eat with the "Eat Out to Help Out" Scheme which offers a discount to diners eating and drinking in registered restaurants.
Chancellor Rishi Sunak gave his "Summer Statement" yesterday setting out his ‘Plan for Jobs’ in an attempt to spur the UK’s recovery from the Coronavirus outbreak. The Chancellor’s plan is designed to support jobs by focussing on skills and young people, create jobs with investment in shovel-ready projects and greening our infrastructure, and protect jobs through a VAT cut for the hospitality sector and a landmark "Eat Out to Help Out" discount scheme for diners.
HM Revenue & Customs have announced that after a brief hiatus, owing to the Coronavirus, they will be resuming investigations into business and personal taxes. Pressure will undoubtedly be applied on HMRC to deal with fraud and underpayments of tax as a matter of urgency.
HM Revenue & Customs have now updated their guidance on the Coronavirus Job Retention Scheme changes coming into effect from July 2020. The changes include the introduction of flexible furlough working and details of how employers will be required to contribute more towards furloughed employee costs.
On 5 June HMRC issued a notice stating that the introduction of the Domestic Reverse Charge VAT for Construction Services, which was due to be introduced on 1 October 2020, will now be delayed for the second time until 1 March 2021.
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