Coronavirus: essential updates for accountants

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

31 March 2020

Grant Thornton plans to put staff on reduced hours

HMRC clarifies self assessment tax payment deferra

Guidance on small business and retail sector grant schemes

EU Tax Authority tracker monitors cross-border covid-19 VAT changes 

Returning NHS workers targeted by tax avoidance scammers

 

30 March

Coronavirus Act 2020 allows for HMRC extended powers

Coronavirus Job Retention Scheme - government will pay employer NICs

Limited company directors have limited support under covid-19 measures

Insolvency rules to be relaxed, initial announcement

Annual leave rules will allow temporary two-year holiday rollover cycle

 

27 March

Q&A: Self-employment Income Support Scheme

Partnerships offered income support

Contractors ‘fall through cracks’ in support

Changes to stamp duty payments process on share sales

Accounting and tax institutes cancel exams

 

26 March 

Self employed package hints at future tax equity

HMRC changes coronavirus business helpline number to increase capacity

Self employed will receive 80% package financial support [updated technical guidance]

Chancellor finalising package of financial support for self-employed

Q&A: Coronavirus Job Retention Scheme and furlough

Users of VAT deferral should review direct debits to HMRC

£3.5bn of dividends slashed

FTSE audit partner tenure extended

Regulators issue joint guidance on financial reporting and audit requirements

IoD seeks insolvency relaxation

Taxpayers urged to weigh up savings withdrawals

Revised investment reporting standards delayed to September

Government demand for March beer duty payments ‘disappointing’

 

25 March

HMRC looking to deploy more staff to business helpline

Warning on scammers and abuse of government schemes

Bank card contactless limit increased

FRC considers delay to audit quality inspections

Expat US taxpayers can defer federal income tax filing to 15 July

Business rates holiday extended to estate agents and bingo halls

Gender pay gap reporting suspended

‘Your NHS needs you’ to volunteer

 

24 March

80% rule salary payments liable for income tax and NICs [updated technical guidance]

Q&A: what does UK lockdown mean for employers?

Non-essential shops closed but not exhaustive list

Covid Corporate Financing Facility available

Sick pay to be refunded to small businesses

Moratorium on evictions by commercial landlords

Expats and non doms can claim ‘exceptional circumstances’

Urgent government action needed to support self employed

UK GDP to drop 2.6% before 2021 recovery

HMRC cuts interest rate for late/early payments

 

23 March

Accountancy firms activate agile working as office premises close

Companies risk breaching banking covenants

Government to pay 80% of salary for furloughed workers [updated technical guidance]

Coronavirus Business Interruption Loan Scheme open for applications

VAT payments deferred for three months

Six month deferral on self assessment payments

FCA implements two-week moratorium on FTSE corporate reporting

Companies House extends accounts filing deadline [updated 25 March]

Businesses rally to support NHS workers

Online coronavirus isolation notes for absence from work

Government to take over rail franchises

 

20 March

Chancellor sets out radical employment support package to protect jobs

Coronavirus Business Interruption Loan Scheme hiked to £5m

HMRC needs to ramp up covid-19 time to pay guidance

Bank of England advice on liquidity reporting under IFRS 9

Rail services cut in response to covid-19

 

19 March

Q&A: coronavirus and statutory sick pay

Chancellor tells MPs business loans effective 'beginning of next week'

Bank of England cuts base rate to 0.1%

Chancellor convenes emergency meeting with business groups and unions

London’s transport network cut back in face of coronavirus

Schools to close from Friday [updated 20 March]

 

18 March

£330bn ‘unprecedented’ coronavirus emergency fund

IR35 private sector reforms delayed until 2021

Covid-19 sees companies develop AGM contingency plans

AAT cancels June conferences

 

17 March

Covid-19 measures pose ‘catastrophic’ challenge for leisure industry

Regulator offers filing extension for charities affected by covid-19

 

16 March

Accountants activate covid-19 contingency plans

FRC advice for auditors and financial reporting

 

13 March

Coronavirus forces organisers to postpone Accountex exhibition

 

11 March (Budget 2020)

Budget 2020: HMRC coronavirus helpline set up

Budget 2020: measures to help business fight coronavirus

Budget 2020: tax announcements at a glance

Budget 2020: coronavirus business interruption loan scheme

Coronavirus toolkit: FAQs for employers

 

10 March

Coronavirus: what internal auditors need to know

 

9 March

Sunak Budget overshadowed by coronavirus

 

5 March

Bank of England cuts base rate to 0.25%

Regulators review reporting deadlines to mitigate coronavirus

 

4 March

Marshall: impacts of coronavirus on financial reporting

Statutory sick pay three-day limit lifted for covid-19

 

2 March

Covid-19: tips for employers

 

18 February 

FRC warning on coronavirus risk to audits in China

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