On 2 September 2020, the government's £2 billion Kickstart Scheme opened for employer applications.
The scheme is part of the Plan for Jobs announced during Chancellor Rishi Sunak's July Summer Economic Update.
HMRC has published the latest edition of the Employer Bulletin. This guidance for employers, and their agents, includes articles on:
Coronavirus Job Retention Scheme and what employers need to do from August onwards
Two self assessment deadlines are approaching:
•
5th October 2020
New company car advisory fuel rates have been published which take effect from 1 September 2020. The rates only apply to employees using a company car. The guidance states:
'You can use the previous rates for up to one month from the date the new rates apply.'
Over £30 million has been lost to pension scams since 2017, according to the Financial Conduct Authority (FCA) and The Pensions Regulator (TPR).
A total of £30,857,329 in pension savings has been lost to scammers since 2017, data published by the FCA and the TPR revealed. Reported losses ranged from under £1,000 to as much as £500,000. The average victim was a man in his 50s, the FCA and the TPR found.
Eileen Milner, Cheif Executive of the Education and Skills Funding Agency, has issued a letter to Accounting Officers of academy trusts extending the filing deadline for academy accounts for the year ended 31 August 2020 to 31 January2021.
Associated deadlines have also been extended. Full details in pdf letter.
Taxpayers who have received CJRS or SEISS grants are urged to doublecheck their entitlement as the 90 day period to inform HMRC of any overclaimed amounts is now law.
Chancellor Rishi Sunak has asked the Office of Tax Simplification (OTS) to carry out a thorough review of capital gains tax (CGT).
In a letter to the OTS, the Chancellor requested that the independent office review CGT and aspects of the taxation of chargeable gains in regard to individuals and small businesses.
The government has published a call for evidence on the overhaul of the business rates system that applies in England.
On 21 July, the Treasury set out the next steps in its plan to extend Making Tax Digital (MTD) to all businesses and those taxpayers that file self assessment returns.
Currently, businesses above the VAT threshold of £85,000 are required to comply with Making Tax Digital for VAT (MTD for VAT).