coronavirus Archives - WRLO Accountants

October 2020

WRLO Accountants — Mon, 05 Oct 2020 15:29:19 +0000

In this month’s enews we consider announcements made as part of the government’s Winter Economy Plan. In other news we consider the new trade arrangements with the EU following the end of the Transition Period, which apply from 1 January 2021; the rise in house sales following the introduction of the Stamp Duty holiday; and the new domestic reverse charge for VAT, so there is lots to update you on. Job Support Scheme Winter Economy Plan support for the self-employed VAT deferral and enhanced Time to Pay for self assessment Changes to the Bounce Back Loan and Coronavirus Business Interruption Loan Schemes The VAT reverse charge Ministers announce new grants for businesses affected by local lockdowns New trade arrangements with the EU from 1 January 2021 House sales rise following the introduction of stamp duty holiday Job Support Scheme The existing job support scheme, the furlough scheme, comes to an end on 31 October. As part of the Winter Economy Plan the government announced it will be introducing a new Job Support Scheme from 1 November 2020. For employers to participate in the scheme: employees will need to work a minimum of 33% of their usual hours for every hour […]

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July 2020

WRLO Accountants — Fri, 10 Jul 2020 13:40:11 +0000

In this month’s Enews, we report on Chancellor Rishi Sunak’s Summer Economic Update, which unveiled the government’s three-point plan to protect and create jobs as the economy begins to recover from the coronavirus lockdown. There have been plenty of other developments. We look at some of them here and analyse changes to tax policy and the wider economy. As the COVID-19 pandemic continues to dominate the news, there are lots of issues to update you on. Chancellor unveils three-point plan for jobs Stamp duty temporarily reduced Flexible furloughing starts on job retention scheme Government expands aid for start-ups and innovators Bank of England increases stimulus package for UK economy FCA confirms further support for consumer credit customers Private sector off-payroll reforms given go ahead for April 2021 Late payment crisis has worsened during coronavirus lockdown Chancellor unveils three-point plan for jobs On 8 July, Chancellor Rishi Sunak announced a three-point plan to support jobs in the wake of the COVID-19 pandemic when he delivered a Summer Economic Update to Parliament. Mr Sunak confirmed the Coronavirus Job Retention Scheme (CJRS) will end as planned this October. The Chancellor said furloughing had been the right measure to protect jobs through the first […]

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June 2020

WRLO Accountants — Tue, 09 Jun 2020 20:25:07 +0000

In this month’s Enews, we report on the progress of the government’s schemes to help businesses during the COVID-19 pandemic. Chancellor Rishi Sunak announced important changes to the Coronavirus Job Retention Scheme, which will run until the end of October while HMRC has once again delayed the introduction of the VAT reverse charge. We look at the latest guidance and also analyse the impact of COVID-19 on tax policy and the wider economy. As the COVID-19 pandemic continues to dominate the economy, there are lots of issues to update you on. Chancellor announces changes to Job Retention Scheme COVID-19: delay to VAT reverse charge on construction services Loan size increased to £200 million under large business interruption scheme Future Fund launches to give start-ups coronavirus support Coronavirus Statutory Sick Pay Rebate Scheme goes live Changes to insolvency and company law going through Parliament UK sets out post-Brexit tariff regime MPs open inquiry into £155 billion of tax reliefs Chancellor announces changes to Job Retention Scheme Chancellor Rishi Sunak has announced changes to the government’s Coronavirus Job Retention Scheme (JRS), which will be slowly wound down between July and October. The changes mean businesses will be able to bring furloughed employees […]

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