News
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HMRC sets out penalty regime for SEISS abuse
Published by Michael Graves on Wed, 05/05/2021 - 11:20amThe fourth Self-Employed Income Support Scheme (SEISS) grant is now live and HMRC has set out the penalties for abuse of the scheme.
An overclaimed SEISS grant includes any amount of grant which the self-employed individual was not entitled to receive or was more than the amount HMRC said the applicant was entitled to when the claim was made.
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New claims required for home working tax relief
Published by Michael Graves on Wed, 05/05/2021 - 11:18am -
New 95% mortgage scheme launched
Published by Michael Graves on Wed, 05/05/2021 - 11:16amOn 19 April, a government-backed mortgage scheme to help people with 5% deposits get on to the housing ladder was made available to lenders.
First announced at the 2021 Budget, the scheme will help first-time buyers or current homeowners secure a mortgage with just a 5% deposit to buy a house worth up to £600,000. The government says this will provide 'an affordable route to homeownership for aspiring homeowners'.
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CBI calls for extension of Kickstart Scheme as jobs market remains subdued
Published by Michael Graves on Wed, 05/05/2021 - 11:13amThe Confederation of British Industry (CBI) has urged the government to extend the Kickstart Scheme to help young people who are bearing the brunt of the subdued job market.
The Kickstart Scheme was launched in September and promised to pay the wages and associated employment costs for businesses taking on 16 to 24-year-olds in receipt of Universal Credit up to six-month contract periods.
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Recent changes to IR35 'undermine the self-employed', says IPSE
Published by Michael Graves on Wed, 05/05/2021 - 11:10am -
Recovery Loan Scheme opens to businesses
Published by Michael Graves on Wed, 05/05/2021 - 11:08amOn 6 April, the Recovery Loan Scheme (RLS) was introduced to replace the government's coronavirus lending schemes.
The RLS provides financial support to businesses affected by the COVID-19 pandemic. The scheme gives lenders a guarantee of 80% on eligible loans between £25,000 and £10 million to give them confidence in continuing to provide finance to UK businesses.
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Fourth self-employed grant now open for online applications
Published by Michael Graves on Wed, 05/05/2021 - 11:05amOn 21 April, the online service for applications for the fourth Self-employment Income Support Scheme (SEISS) grant was opened for claims, HMRC confirmed.
All applications must be submitted by the individual self-employed worker and cannot be handled by accountants or tax advisers.
The fourth grant will be 80% of three months' average trading profits, to be claimed from late April 2021.
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Business rates relief extended with £1.5 billion fund
Published by Michael Graves on Thu, 15/04/2021 - 2:57pmThe government is to extend business rates relief with a £1.5 billion fund targeted at those businesses unable to benefit from the current COVID-19 support.
Retail, hospitality and leisure businesses have not been paying any rates during the pandemic, as part of a 15 month-long relief which runs to the end of June this year.
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Government publishes details of Finance Bill 2021
Published by Michael Graves on Thu, 15/04/2021 - 2:53pm