By Nikki Spoor, Travel, Audit and Tax Director at White Hart Associates Overview A new VAT rule to combat fraud in the UK construction industry is eventually being introduced on March 1st and the estimated 150,000 small and medium sized businesses in the sector must prepare for major changes. The Construction Industry Scheme (CIS)…
Chancellor Rishi Sunak has announced further measures to the Government’s financial support schemes, continuing the Government’s commitment to “plan to help the UK economy to recover and protect livelihoods across the country.” Extended support systems include extensions to the following schemes: Furlough Scheme The Government has lengthened the furlough scheme to be in place until…
By Chris Photi, Head of Travel and Leisure at White Hart Associates With all the focus on the terrible impact of the pandemic, it’s easy to forget that the transition period for the UK’s exit from the EU will end shortly and there will be changes from January 1st. For the travel industry, that means…
HM Revenue & Customs (‘HMRC’) are preparing self-employed individuals for an available third Self-Employment Income Support Scheme (‘SEISS’) grant. HMRC have recently published additional claim guidance, inclusive of the newly implemented criteria. Claimants must meet HMRC’s stringent application specifications, including the ability to outline the negative impact the COVID-19 pandemic has had on their business…
We have been informed that over 24,000 self-employed traders who have claimed a self-employed income support (SEISS) grant have been contacted by HMRC to see if they are still trading. A small minority of Sole-traders (around 1% of all who have claimed SEISS) in the the first or second SEISS grants by 30 September 2020…
The Chancellor Rishi Sunak has announced a further extension to his Governments Furlough Scheme. Mr Sunak said his Government had to make “rapid adjustments” to the economic response to Covid-19 pandemic. This is shown by the way the Government has changed its Winter COVID-19 Support package four times since his initial announcement The Chancellor stated: “Given…
On 31 October 2020, as Boris Johnson was announcing an initial 4 week national lockdown, the Chancellor was already making plans to change and extend support measures for businesses and individuals’ during this difficult period. A number of our clients have asked us to clarify the announcements, which come just days after Rishi Sunak himself…
As mentioned in our previous blog entry, the Chancellor has provided some amendments to the initial Job Support Scheme (‘JSS’) announced on 24th September 2020. This is in line with the regional reported increases in COVID-19 infections across the UK and is a responsive measure to the adoption of the recently implemented three tiered restrictions.…
As part of the new incentives to financially aid those negatively impacted due to the ongoing COVID-19 pandemic, the Chancellor released details of newly implemented schemes to ease the financial burden of decreased demand and restricted trading in this difficult economic period. Therefore, please find outlined below details relating to the Self-Employment Income Support Scheme…
31st October 2020 was originally the milestone date when the Government planned to cease to support businesses, including the end of the furlough scheme. However, in recent weeks the Government has extended the support schemes in place, inclusive of announcing a replacement to the furlough scheme; namely the Job Support Scheme. The Chancellor unveiling additional…
