New HMRC one-stop online shop provides taxpayers with tax relief information
HMRC has launched a new one-stop online shop designed to provide taxpayers with information on the tax reliefs and financial help available from HMRC.
In a new section of the GOV.UK website, HMRC has listed financial support available to ensure individuals are not missing out. There is guidance on relief for childcare and work-related expenses, as well as information about savings and getting help if you cannot pay your tax bill.
Full details of the fifth SEISS grant, including a new turnover test which determines the level of the grant, are now available. We explain what has changed.
Level of grants
In most respects the rules for the fifth Self-employment Income Support Scheme (SEISS) grant are the same as for the fourth grant. What has changed is that the level of the grant depends on whether turnover has dropped by more or less than 30%.
Extension of Coronavirus Job Retention Scheme to 30th September 2021.
The Coronavirus Job Retention Scheme has been extended until 30 September 2021 and the level of grant available to employers under the scheme will stay the same until 30 June 2021.
Self-Employment Income Support Scheme (SEISS) 4 claims soon. Uber drivers update – [update 23rd April 2021]
4th SEISS Grant will open over the next week. HMRC has written to each potential claimant giving them their personal claim date. We understands that these dates fall between 22 and 29 April.
The furlough scheme, or Coronavirus Job Retention Scheme to give its full name, was originally meant to end on 31 October 2020 and be replaced with a new Job Support Scheme (JSS). Job Retention Scheme has been extended for a month with employees receiving 80% of their current salary for hours not worked, up to a maximum of £2,500.
30 June: Employers will be able to make claims for grants under the flexible furlough scheme (CJRS V2) from 1 July 2020.
The first version of the Coronavirus Job Retention Scheme (CJRS), whereby employees had to be furloughed full time, ends on Tuesday 30 June 2020 and the deadline for claims is 31 July 2020.
The legislation specifically allows payments made by employers to employees to cover homeworker’s additional household expenses to be tax-free in certain circumstances.
From 1 April 2019, Making TAx Digital (MTD) finally beging to come into force.
Under the MTD rules most businesses will be required to digitally record tax-relevant data and to use MTD-compliant software to transfer the required information directly to HMRC’s systems via an application programming interface (API).
MTD for business is being introduced tax by tax, not by business size or type.