Insight

Tax / Top 10 tips: employee expenses during coronavirus homeworking

If your employees are working from home due to the coronavirus lockdown, there are important tax compliance issues to consider before reimbursing expenses, explains Jacqui Gudjion, corporate and business tax partner at Mercer & Hole

Insight / Covid-19: large business interruption loan launched

The government has provided more details of an extension to the Coronavirus Large Business Interruption Loan Scheme (CBILS), announced earlier in the pandemic, which will now offer loans of up to £25m to large businesses with turnover above the original limit of £45m for support, reports Pat Sweet

Insight / 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 / Covid-19: zero hours PAYE employees entitled to 80% furlough scheme

Zero hours workers are entitled to be furloughed under the 80% rules set out in the Coronavirus Job Retention Scheme based on an average calculation of monthly earnings, reports Sara White

Tax / Covid-19: 80% rules allow training, volunteering and even second jobs

Accountants put on furlough under the Coronavirus Job Retention Scheme will be able to continue their training to achieve professional qualifications and may be able to take on a second job depending on any restrictions in their employment contract, reports Sara White

Insight / Morrisons wins landmark ruling on liability for employee data breach

The Supreme Court has handed down a landmark judgment in a case involving a group data breach action against a former internal auditor at Morrisons, which could have seen the supermarket chain facing claims for damages running into thousands of pounds, reports Pat Sweet

Tax / Covid-19: football clubs fight to keep going as grounds remain closed

Football clubs are coming under increasing pressure to cut top players’ multimillion pound wages as support staff at clubs are put on the government’s 80% furlough scheme, and EFL clubs are already struggling to pay March salaries

Insight / Covid-19: accountants called up to Army reserve

Accountants are among 3,000 Army reservists with specialist skills set to be called up by the Ministry of Defence (MoD) to help in the fight against coronavirus

Tax / Covid-19: loan charge taxpayers given ‘special arrangements’

HMRC is to introduce special arrangements for taxpayers affected by the loan charge rules relating to disguised remuneration tax avoidance schemes, paving the way for some of them to make claims under the government’s coronavirus support scheme for the self-employed, reports Pat Sweet

Tax / Covid-19: bus services support grant launched

The government is to provide a £397m package for bus operators to keep key routes running for frontline workers during the current pandemic

Tax / Covid-19: business interruption loan scheme amended

The government has been forced to amend the coronavirus business interruption loan scheme (CBILS) for firms affected by the pandemic, following claims banks were forcing companies to provide personal guarantees, and is adding an option for larger companies, reports Pat Sweet

Insight / Finance Mole: learning to deal with lockdown

As the country refashions its way of working in the face of the covid-19 crisis, our favourite head of finance wryly recounts the first week under the new rather challenging, albeit sometimes amusing, home working regime

Audit / KPMG slammed with £700k fine over audit failures at listed company

Big Four audit giant KPMG and a current partner have been severely sanctioned by the Financial Reporting Council (FRC) over significant audit failures which occurred in the conduct of a major company audit in 2016

Insight / Covid-19: British Airways furloughs 30,000 and puts pilots on half time

The aviation industry is calling for targeted support as British Airways places over 30,000 employees on furlough and EasyJet grounds all flights

Insight / Covid-19: electronic signatures and witnessing practicalities when isolating

Electronic signatures are ‘permissible and can be used in confidence in commercial and consumer documents’ during the coronavirus pandemic, the Lord Chancellor has confirmed, but there are times when a witness is legally required. Sophie Brookes, partner at Gateley, examines how to deal with virtual witnessing
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