Essential Government grant funding available via the Local Authority Discretionary Grants
The Government has made additional financial support available to the UK’s smaller business owners, who may have been excluded from existing schemes, via the creation of Local Authority Discretionary Grants. More than £617 million has been made available to councils
Read more...CAP payments do not count as State Aid
It has been confirmed that the Common Agricultural Policy (CAP) payments to farmers do not count as State Aid, even though the 2020 payments will come from the UK rather than the EU. As the Institute of Chartered Accountants in
Read more...Milk Your Moments campaign
The dairy sector is attempting to raise its profile and extol the benefits of drinking milk, either in other drinks or on its own, at a time when many farmers are having to dump excess supplies. The 12-week ‘Milk Your
Read more...Changes to notifying an option to tax (VAT) on land and buildings during the Coronavirus pandemic
HM Revenue & Customs (HMRC) has made temporary changes to the time limit and rules for notifying an option to tax (charge VAT on) land and buildings. Normally, when notifying HMRC of a decision to opt to tax land and
Read more...Money laundering supervision payment deferrals and deregistration announced by HM Revenue & Customs
Businesses that require money laundering supervision from HM Revenue & Customs (HMRC) can receive a six-month payment deferral or deregistration where an annual fee is due between 1 May and 30 September 2020, it has been announced. HMRC is the
Read more...Tax treatment of expenses and benefits during COVID-19
The Government has updated its guidance on taxable expenses and benefits when they are paid to employees during the Coronavirus crisis and how employers should report them to HM Revenue & Customs (HMRC). The new guidance provided relates to income
Read more...Temporary tax freeze on home office expenditure announced
The Government has announced a temporary tax and National Insurance Contribution (NIC) exemption that ensures that home office equipment purchased by employees, where reimbursed by the employer, does not attract tax or NICs. Jesse Norman, financial secretary to the Treasury,
Read more...Maximum Government-backed loan amount for larger businesses increased to £200 million
The Government has announced an increase in the maximum amount that larger businesses can borrow under the Coronavirus Large Business Interruption Loan Scheme (CLBILS) from £50 million to £200 million. CLBILS loans are offered on normal commercial terms, but are
Read more...Coronavirus Statutory Sick Pay Rebate Scheme set to open for claims
The Coronavirus Statutory Sick Pay Rebate Scheme (CSSPRS), announced by the Chancellor at the Budget, is set to open for claims from Tuesday 26 May 2020, HM Revenue & Customs (HMRC) has said. The scheme enables employers with up to
Read more...Coronavirus Future Fund opens to applications
The Future Fund, which offers convertible loans of between £125,000 and £5 million to innovative companies facing financial difficulties as a result of the COVID-19 pandemic has opened. The fund is designed to support UK-based companies that have acquired at
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