NEWS

HMRC has published an update to its Claim for wages through the coronavirus job retention scheme guidance, noting that employers must keep a copy of all records for six years, including:the amount claimed and the claim period for each employee;the...

With the SEISS claims process having opened on 13 May, the Low Incomes Tax Reform Group (LITRG) has pointed out that taxpayers whose contact details are not fully up to date may risk not receiving correspondence from HMRC in relation to the scheme....

LITRG has also noted that business owners who were self-employed but have recently incorporated their business into a limited company are unlikely to be eligible for the SEISS even if HMRCs eligibility checker confirms that they may be...

The European Commission has issued several approval decisions under the temporary framework for state aid measures to support national economies as they go through the coronavirus outbreak. For the UK, the Commissions decision not to...

Small and medium-sized companies can apply to HMRC for a refund of the cost of paying statutory sick pay (SSP) to their employees. The Statutory Sick Pay (Coronavirus) (Funding of Employers Liabilities) Regulations, SI 2020/512 will enable...

The Individual Savings Account (Amendment No. 3) (Coronavirus) Regulations, SI 2020/506 amend the ISA Regulations, SI 1998/1870 to reduce the charge for unauthorised withdrawals from a Lifetime ISA from 25% to 20%, in the period from 6 March 2020 to...

HMRC has announced changes to its usual procedures for IHT forms. HMRC will no longer print and stamp the IHT421 (IHT probate summary form) and return it to taxpayers. Instead, HMRC will email the IHT421 directly to the Courts and Tribunals Service,...

Notifying HMRC of a decision to opt to tax land and buildings is normally required within 30 days, either in writing or by sending a scanned copy by email. HMRC has temporarily extended the time limit to 90 days from the date the decision to opt was...

In a further communications update, and in line with recent policy, HMRC has updated its guidance Apply to use simplified import VAT accounting to reflect that, due to coronavirus, applications for simplified import VAT accounting (SIVA) should...

From 1 June, applications for authorised economic operator status must be made through the EU customs trader portal. HMRCs Authorised Economic operator for imports and exports guidance advises that applications that are in progress via the...