Coronavirus

Tax / Coronavirus: essential updates for accountants, tax advisers and auditors

To assist accountants, tax advisers and auditors in dealing with the coronavirus crisis, all our related covid-19 coverage will be available here as soon as new announcements are made, plus expert analysis

Tax / Blick Rothenberg: Bleak winter to follow summer statement

The chancellor’s moves on job retention bonuses and VAT cuts could be delaying the inevitable failure of many companies, says Blick Rothenberg’s Nimesh Shah

Insight / Covid-19: last day for Self Employment scheme applications

This is the final day to apply for the first Self Employment Income Support Scheme (SEISS) grant, taxpayers need to claim before midnight tonight in order to receive their first grant worth 80% of their average trading profits

Insight / Lockdown cracks china retailer

Howard Smith, associate director, and Dave Costley-Wood, partner from KPMG’s restructuring practice, have been appointed joint administrators of Yorkshire lifestyle retailer Peter Jones (China) Ltd, which has collapsed with the loss of 70 jobs

Tax / HMRC CEO’s warning over job retention bonus

HMRC CEO Jim Harra has challenged the Chancellor over the Job Retention Bonus Scheme set out in this week’s summer economic update, saying that the £1,000 bonus to be paid to employers who bring back furloughed staff may not be cost effective

Insight / Chancellor’s statement boosts training options

The Chancellor’s £30bn plan for jobs, which will see the current furlough scheme wound down in favour of a series of measures to encourage the creation of new positions, has been broadly welcomed for its focus on younger workers, and the opportunities for re-training

Insight / ‘Amnesty’ planned for furlough breaches

The government plans to offer an ‘amnesty’ to employers who have furloughed employees during the coronavirus crisis without meeting the formal conditions of the scheme, enabling them to repay  sums without penalties or further sanctions

Insight / Impact on pensions of changes to Job Retention Scheme

As the government begins to unwind its Coronavirus Job Retention Scheme over the coming months, LEBC’s Kay Ingram looks at how pensions will be affected by the changes

Tax / Chancellor urged to go further with Covid-19 support

Early reaction to the Chancellor’s summer update of measures to combat the economic challenges posed by Covid-19 has been largely positive, although there has been surprise at the lack of support for some badly affected sectors such as retail and aviation

Tax / Summer update: Chancellor offers job funding, VAT cuts and eat out discounts

Just four months after his first Budget, Chancellor Rishi Sunak has unveiled a summer economic update designed to mitigate the impact of the Covid-19 pandemic, with a commitment to encouraging job creation through a government ‘plan for jobs’ and stimulus for consumer spending

Insight / Future Fund loans can create significant shareholders

As innovative companies turn to Future Fund loans for additional funding during the Covid-19 crisis, McCarthy Denning’s Guy Avshalom warns businesses could find themselves with powerful new shareholders if the debt converts to equity

Insight / Covid-19 impact raises insolvency warning for university sector

Around a dozen universities could plunge into insolvency as a result of the Covid-19 crisis, which poses a significant financial threat to the UK higher education sector, according to research by the Institute for Fiscal Studies (IFS)

Tax / HMRC drops benefit in kind charge on Covid-19 tests

HMRC has been forced into a rapid U-turn after publishing guidance indicating that employees would face a taxable benefit in kind when their employer pays for coronavirus testing, following an outcry from MPs

Tax / Chancellor’s plans to reset economy post-Covid

Chancellor Rishi Sunak is to deliver a ‘summer economic update’ tomorrow, 8 July, outlining the government’s plans to support the economy through the first phase of recovery from the coronavirus crisis, with likely options including temporary tax cuts, funding for green projects, and job creation schemes

Insight / Opinion: Don’t bar Branson from bailouts

Despite calls for UK corporates registered offshore to be denied government help during the coronavirus crisis, Andersen Tax’s Miles Dean argues that support could save thousands of jobs
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