The deadlines for filing and paying CGT arising on the sale of an interest in UK property has changed as from 6 April 2020. UK residents making a gain which is liable to CGT from the disposal of residential property situated in the UK now have 30 days from conveyance in which to notify HMRC and pay across any CGT that is due. Non-UK residents have been subject to these report ...

The Kickstart scheme is aimed at helping unemployed young people into work. The new scheme will see hundreds of thousands of state-funded jobs created for 16-to-24-year-olds who are currently claiming Universal Credit and at risk of long-term unemployment. Those who sign up can start in the autumn and there is no cap on the number of people who can sign up to the scheme. The K ...

From 1 August 2020 - 31 Jan 2021, Businesses will be given £2,000 for each new apprentice they hire under the age of 25, and £1500 for every new apprentice over the age of 25. If your business has more than 50 employees, then you pay just 5% of the apprenticeship training costs, with the government funding the remaining 95% of the training costs. Additional payments of up to ...

On 1 August, the government's Eat Out to Help Out scheme began operating at eateries across the country. The scheme was announced by Chancellor Rishi Sunak in his Summer Economic Update. It provides a 50% reduction of up to £10, for sit-down meals in participating cafes, restaurants and pubs across the UK from Monday to Wednesday every week throughout August 2020. Those estab ...

On 21 July, the Treasury set out the next steps in its plan to extend Making Tax Digital (MTD) to all businesses and those taxpayers that file self assessment returns. Currently, businesses above the VAT threshold of £85,000 are required to comply with Making Tax Digital for VAT (MTD for VAT). From April 2022, the initiative will be extended to all VAT-registered businesses i ...

Taxpayers who have received CJRS or SEISS grants are urged to doublecheck their entitlement as the 90 day period to inform HMRC of any overclaimed amounts is now law. Finance Act 2020 includes legislation that the Coronavirus Job Retention Scheme (CJRS), Self-employment Income Support Scheme (SEISS), Coronavirus Statutory Sick Pay Rebate Scheme and coronavirus business support ...

HMRC has outlined the eligibility requirements for the Job Retention Bonus (JRB) that follows the furlough scheme as part of the government's measures to support the economy through the COVID-19 lockdown. The government's Coronavirus Job Retention Scheme ends on 31 October 2020 and the JRB aims to provide additional support to employers who keep on their furloughed employees i ...

The introduction of off-payroll rules to the private sector will go ahead as planned next April after an attempt to delay them failed in the House of Commons. The reforms of the off-payroll rules to the private sector, which are known as IR35 and have applied to the public sector since 2017, was reviewed earlier this year. They will shift the responsibility for assessing empl ...

The government has expanded its COVID-19 support for start-ups and innovative companies with the launch of a new fund. On 27 June the government announced the Sustainable Innovation Fund (SIF), which is aimed at helping businesses to keep 'cutting edge' projects and ideas alive during the pandemic. The SIF will make almost £200 million available to UK companies that are devel ...

Chancellor Rishi Sunak announced a temporary cut in the rate of Stamp Duty Land Tax (SDLT) in order to boost confidence in the flagging housing market in his Summer Economic Update. Property transactions fell by 50% in May this year and house prices have fallen for the first time in eight years. In response, the government will temporarily increase the nil-rate band of residen ...