Coronavirus: essential updates for accountants, tax advisers and auditors - Part 2

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

For the latest breaking news stories and analysis, plus subscriber-only premium content and Q&As on dealing with covid-19, this is our dedicated Accountancy Daily Coronavirus News Hub, brought to you by the team of experts at Accountancy Daily, Croner-i, Croner Taxwise and BrightHR.

Sign up here to register for our Accountancy Daily newsletters, weekdays at 4pm and our weekly covid-19 round-up, Fridays at 4.45pm, plus our range of Coronavirus Toolkits, Webinars and CPD Modules. To find out more, call 0800 231 5199

Due to the fast moving nature of the current Covid-19 pandemic, we are endeavouring to cover as much of the critical news as possible. Note that parliament returned as of Monday 20 April 2020 and committee hearings are being held as normal.

 

Link: Coronavirus: essential updates for accountants, tax advisers and auditors - Part 1

 

 

22 October – Chancellor Rishi Sunak announces new job support package

Covid job support package enhanced to match new restrictions

 

21 October

Deloitte to close four offices

Profit warnings soar as businesses struggle

 

20 October

Greater Manchester to enter Tier 3 without Covid support deal

Wales, Ireland opt for tighter Covid-19 measures

CFOs predict recovery not till summer 2021

Q&A: homeworking tax implications

 

19 October

Furlough cash: personal risks loom for PAYE/NIC payment failure

Government plans to ensure cash remains available 

 

16 October

Relocating Scots warned about tax implications

KPMG delays results in face of ‘significant uncertainty’

Brexit and Covid-19 should not deter investment into UK 

 

15 October – London to enter tier 2 of lockdown system

London will move into lockdown level 2

Lack of Covid support schemes hits travel sector

UK economy facing ‘prolonged’ disruption

Free CVA form for SMEs launched

Crisis fuels boardroom battles and executive departures

 

14 October

Covid fraud hotline opens

HMRC opens portal for WFH expenses claims

 

13 October

One week until ‘gloves off’ HMRC furlough investigations

Q&A: temporary rate-reduction and multiple-dwellings relief

 

12 October - PM announces three tier lockdown system

Job support scheme expanded, three tier lockdowns to come

AIM bounces back to pre-Covid highs

HMRC warns university students over tax scams 

 

8 October

HMRC investigates furlough fraud as potential £3.5bn is lost

 

7 October

Government risks £26bn losses from bounce back loan scheme

‘Virtual’ AGMs threat to shareholder input

How to avoid post-crisis legal fights

 

6 October

Guidance on furlough job retention bonus

Questions remain over interruption insurance ruling

 

5 October

Nearly 16,000 cases added after IT error

Self assessment ‘time to pay’ threshold raised to £30,000

Covid hits Brexit business planning

Pandemic changes retirement plans

 

2 October

Tougher action planned on late payment

CFO role gains importance in pandemic

 

1 October

Covid-19 impacts Deloitte’s growth

What’s Inside France’s Covid Recovery €100bn Plan?

Warning of fraud risk in Covid-19 business loans

 

30 September

Insolvency measures extended

 

29 September

HMRC sees rise in Coronavirus tax scams

Covid travel ban forces training college collapse

 

28 September

Investors remain cautious after lockdown

 

25 September

Pros and cons of home working

 

24 September – Autumn Budget cancelled – winter economy plan set

Sunak announces new job support scheme

November Budget cancelled

Gig workers face disguised lay-off threat

 

23 September

Call for joined up tax reporting deadline extensions

 

22 September – Boris Jonson announces new restrictions for six months

PM: six new Covid restrictions for the next six months

U-turn on return to work plans

 

21 September

UK risks 49,000 cases a day unless infection rates slow 

£500 self isolation payments for lower income employees

Pensions Regulator removes DC reporting exemptions

Government urged to extend furlough support

 

18 September

Changing face of office life

Call for Treasury to ensure cash access

 

17 September

Infection rates see government mull Covid lockdown

How remote working poses fraud threat

Pandemic support suppresses insolvency rates

 

16 September

FCA wins landmark business interruption insurance case

Furlough numbers fall, unemployment rises

Pandemic sees ‘bot’ cyber-attacks on financial services increase

Half of internal audit functions affected by coronavirus redeployment

Coronavirus set to increase M&A disputes

 

15 September

Treasury Committee discusses tax reforms post Covid

Post-Covid global recovery underway

 

14 September – Ban on groups of more than 6 people socially gathering

Covid spike sees ban on groups of more than six

Two arrested on suspicion of £70,000 furlough fraud

FRC’s Lab to examine reporting on risks and uncertainties

 

11 September

Chancellor urged to extend furlough scheme

English football clubs financially distressed despite record £6bn revenues

What does the future hold for payroll after the Covid-19 pandemic?

 

10 September

Grants for businesses affected by local lockdowns

Call to extend Covid-19 insolvency protection

 

9 September

Covid spike sees ban on groups of more than six

SMPs continue to be a lifeline for SMEs in a post-Covid world

SDLT cuts: benefits for couples and buy-to-let

 

8 September – cases spike to nearly 3,000 for a second day

Covid-19 cases spike to nearly 3,000 for a second day

£3.5bn ‘at risk of furlough fraud’

Coronavirus set to increase M&A disputes

 

7 September

Is a wealth tax on the cards?

Working from home poses £15bn risk to economy

Medium-sized businesses fear post-furlough redundancies

 

4 September

How to play the virtual job-hunting game

Eat Out to Help Out scheme cooks up a treat

 

2 September

£2bn ‘Kickstart’ scheme to tackle youth unemployment

No return to pre-Covid economy before 2023

 

1 September

Accounting for Covid-19 Loans and Grants - CPD module

 

28 August

Furlough fraud: clock ticking on self-reporting inaccurate CJRS claims

Last chance to Eat Out to Help Out

Half of Financial Services workforce consider career change

 

27 August

Low income self-isolating payments

Tailored support for mortgage difficulties

 

26 August

PwC’s global revenues show Covid-19 impact

 

25 August

Government must tackle unexpected tax bill for NHS workers

 

24 August

£20m advice support for SMEs to recover from Covid-19

Higher rate pension relief threat to fund coronavirus bill

Financial services firms see profit warnings soar

 

21 August

PwC pushes financial results back to 2021

Eating out: what’s on the menu for struggling restaurants?

 

20 August

Local councils face £7bn black hole

HMRC targets 3,000 employers over CJRS claims

 

19 August

PwC sees important role for offices but no presenteeism

FRC amendment to IFRS 16 – Covid-19-Related Rent Concessions

 

18 August

80% of UK SMEs confident they will recover from Covid-19

Welsh public sector bodies urged to do more to cut fraud

 

17 August

Second SEISS opens as more than two million miss out

HMRC ‘plea bargain’ tax evader deals collect extra £120m

 

13 August

ICAEW wants Chancellor to act on job creation

A third of SMEs carried on without government support 

 

12 August – UK official falls into recession

UK officially falls into ‘largest recession on record’

‘Bullish’ Private Equity firms set to invest despite market challenges

Tax incentives hit £25.6bn record high

 

11 August

Employment plummets by largest margin in a decade

FTSE finance chiefs’ pay cut by 12% as Covid-19 bites

Budgeting for health and safety upgrades

 

10 August

Unexpected tax bills on horizon from coronavirus grants

 

6 August

Tax-free childcare extended

Follow up Covid-19 guidance for pensions administrators

Return to work: what employers and staff need to know, part 2

 

5 August

Mid-sized businesses have only nine months’ funding

 

4 August

Q&A: VAT on the Eat Out to Help Scheme

 

3 August

'Dramatic' plunge in corporate insolvencies

Revenue considerations for accountants and auditors - CPD module

 

31 July

Self-isolation period extended

Furloughed workers to get full redundancy payments

Quarter of finance teams to continue home working

 

30 July

Changes to small business loan rules

 

29 July

Eat Out to Help Out scheme launches next week

Complex admin requirements of temporary VAT rate cut

 

27 July

‘Millions’ slip through Covid-19 financial safety net

Record 527,000 businesses in ‘significant’ financial distress

 

24 July

Tax impact of Covid-19 on company cars

Covid-19: IAS 1 amendment deferred

 

22 July

Package holiday specialist nosedives into administration

 

21 July

Social distancing increases drive to digital AML

Companies need to enhance Covid-19 reporting

 

17 July

Accountants urged to be on guard for Covid-19 fraud

World’s millionaires offer extra tax for Covid-19

649,000 drop in employees on UK payrolls

 

14 July

Blick Rothenberg: Bleak winter to follow summer statement

 

13 July

Lockdown cracks china retailer

Last day for Self Employment scheme applications

 

10 July

10 lessons from first virtual year-end close

HMRC CEO’s warning over job retention bonus

First arrest over £495K ‘furlough fraud’

Tax gap of £31bn shows downwards trend

 

9 July           

‘Amnesty’ planned for furlough breaches

Chancellor’s statement boosts training options

Impact on pensions of changes to Job Retention Scheme

Third-party failures can cost companies £783m per incident

 

8 July – Rishi Sunak summer announcement

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

Chancellor urged to go further with Covid-19 support

HMRC drops benefit in kind charge on Covid-19 tests

Future Fund loans can create significant shareholder

Covid-19 impact raises insolvency warning for university sector 

 

7 July

Chancellor’s plans to reset economy post-Covid

Opinion: Don’t bar Branson from bailouts

 

6 July

£1.57bn support package for arts and culture

HMRC shifts guidance on public access to national treasures

VAT cut on PPE extended

 

3 July

Technology and global demands drive move to strategic adviser

Support extended for motor finance and high cost credit customers

 

2 July

Call to review eligibility for self employed scheme support

Hidden tax risks of raiding the pension pot

Audit firms ‘respond appropriately’ to Covid-19 going concerns

FSB calls for urgent payment reforms

 

1 July

Flexible furlough scheme opens

Six rules you need to know: flexible furlough system

HMRC tax credits renewal ‘glitch’ warning              

Calculating the Self-Employed Income Support Scheme - CPD module – NEW

 

30 June

Future Fund for start-ups expanded

Major corporate insolvency regime changes in force

FCA flags 85% lending scam hike

Q&A: can SME's claim R&D plus Covid-19 scheme?

 

29 June

Nunn: time to review pension annual allowance

KPMG called in as shopping centre giant faces financial collapse

Lockdown has highlighted UK’s widening skills gap

 

26 June

How to support staff mental health after lockdown lifts

UK exports likely to fall by 8% due to Covid-19

Accountants ‘unsung’ heroes

 

25 June

NAO offers guide on good practice in Covid-19 financial reporting

Call for carbon taxes to offset Covid-19 costs

Delays to overseas VAT claims

 

24 June

Hidden tax perils for business debt refinancing

UK Businesses owed £133bn since lockdown

 

23 June - Boris Johnson reduces two meter rule to one meter from 4 July

Social distance rules relaxed

Critical UK public health businesses protected against foreign takeovers

Q&A: reduced VAT rate for empty home conditions

 

22 June

Covid-19 has triggered additional stress on cashflows

 

19 June

‘Unprecedented’ government borrowing

Brits call for clampdown on business tax evasion

FCA extends consumer credit support

 

18 June

Self employed new parents can claim support grant

Bank of England injects £100bn into UK economy

HMRC clarifies repayment of corporation tax                                 

ATT signals businesses to reinstate deferred VAT payments

 

17 June

IFS warns Covid-19 business support is ‘inequitable’

Home office workers risk expense claims tax trap

 

16 June

Jobless rates rise, business investment fall

Returning military reservists eligible for support schemes

Insolvency: changes offer options after lockdown

Clear disclosures are critical for a recovering economy

Q&A: construction reverse charge

 

15 June – Non essential shops open

Updated furlough guidance

One million ‘locked out of support’

ICAS signals opportunity to reform complex tax system

 

12 June

UK GDP drops record 20.4%

Accounting firm numbers decline as bookkeepers boom

Call to offer relief for Covid-19 business losses

Grant Thornton plans job cuts

 

11 June

Self employed grant claimants warned of tax hit

Corporate Insolvency and Governance Bill: permanent and temporary relief

FRC issues guidance on AGMs

Kicks £1bn hole in football league finances

 

10 June

Furlough extended for parents on statutory leave

£38m debt advice support package

 

9 June

Q&A: temporary OTT notification extension period

Accounting for VAT extension for construction businesses

Action urged on £107bn ‘unsustainable’ business debt

 

8 June

Job Retention Scheme cut-off in two days

 

5 June

Delay to VAT reverse charge on construction services

Furlough scheme costs 30% less than estimates

 

4 June

£10bn trade credit insurance confirmed

IoD wants ‘student loans’ to help SMEs post-Covid

CIOT calls for property sales tax change

 

3 June

Pension scheme guidance

ICAEW predict a strong economic rebound

Call to end ‘thuggish’ letters for problem debt

 

2 June

FCA identifies insurers for business interruption court case

Q&A: homeworking expenses claim

EIS clampdown sees £200m drop in funding

 

1 June

Furlough and self employment support schemes amended

Consultation on taxation of coronavirus support grants

 

Rishi Sunak announced furlough and self employment support scheme amendments (which includes part time furloughed working and a second grant for self employed)

 

Link: Coronavirus: essential updates for accountants, tax advisers and auditors - Part 1

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