News

07 Jul

VAT cut on PPE extended

The Treasury has extended the temporary scrapping of VAT on personal protective equipment (PPE) until the end of October.

07 Jul

Government to give £111 million to businesses to fund traineeships

The government plans to give UK businesses £111 million in order to fund new traineeships and get young people in England into work.

06 Jul

HMRC finds lack of knowledge causing MTD non-compliance

A survey commissioned by HMRC has found that a lack of knowledge amongst UK businesses has contributed to Making Tax Digital for VAT (MTD for VAT) non-compliance.

06 Jul

Private sector off-payroll reforms given go ahead for April 2021

The introduction of off-payroll rules to the private sector will go ahead as planned next April after an attempt to delay them again failed in the House of Commons.

03 Jul

LITRG urges self-employed to check eligibility for SEISS

The Low Incomes Tax Reform Group (LITRG) has urged self-employed individuals to check their eligibility for the first round of the government's coronavirus (COVID-19) Self-employment Income Support Scheme (SEISS) grant.

03 Jul

Government unveils £200 million Sustainable Innovation Fund

The government has launched its latest coronavirus (COVID-19) support scheme, termed the Sustainable Innovation Fund (SIF), which is aimed at helping businesses to keep 'cutting edge' projects and ideas alive.

02 Jul

FCA confirms further support for consumer credit customers

The Financial Conduct Authority (FCA) has confirmed further support for users of certain consumer credit products if they are experiencing temporary payment difficulties due to the coronavirus (COVID-19).

02 Jul

FSB finds late payment crisis has worsened during coronavirus lockdown

The Federation of Small Businesses (FSB) has found that the UK's late payment crisis has worsened during the coronavirus (COVID-19) lockdown.

01 Jul

Government expands Future Fund for start-ups

The government has expanded its Future Fund scheme, which aims to support start-up businesses not eligible for other coronavirus (COVID-19) rescue measures.

01 Jul

Furlough scheme now covering 9.3 million workers

The number of workers now furloughed under the Coronavirus Job Retention Scheme (CJRS) has risen to 9.3 million, according to the latest figures from the Treasury.

30 Jun

Business warned about rise in impersonation fraud

Businesses have been told to stay vigilant against the rise in impersonation fraud during the coronavirus pandemic, by trade credit insurer Atradius.

30 Jun

UK mortgage approvals slump during pandemic

UK mortgage approvals slumped to a record low during May as the COVID-19 pandemic took its toll on the housing market, according to data from the Bank of England.

29 Jun

Job retention scheme closing to new entrants

HMRC is reminding businesses that Coronavirus Job Retention Scheme (CJRS) will close to new entrants on 30 June.

29 Jun

Coronavirus lockdown puts focus on UK skills gap

The COVID-19 lockdown has served to highlight the widening UK skills gap and the government must now act, warns the Chartered Institute of Management Accountants (CIMA).

26 Jun

Overseas VAT claims subject to COVID delays

VAT claims submitted under the Overseas Refund Scheme will be subject to delays due to changes in HMRC's working practices during the COVID-19 pandemic, the tax authority has stated.

26 Jun

PMI data points to improved picture for UK economy

The latest purchasing managers' index (PMI) data from the UK's manufacturing sector suggests that the country's economy stabilised in June, according to an IHS Markit survey.

25 Jun

FSB outlines recommendations to Chancellor ahead of expected fiscal event

In a letter to Chancellor Rishi Sunak, the Federation of Small Businesses (FSB) has outlined a series of recommendations designed to support small businesses once the COVID-19 lockdown ends.

25 Jun

IoD urges government to support jobs and investment after coronavirus lockdown

The Institute of Directors (IoD) has called on the government to act to support jobs and investment once the coronavirus lockdown ends.

24 Jun

Government-backed coronavirus lending now over £40 billion

Over £40 billion has now been borrowed through government-backed schemes designed to help businesses get through the coronavirus (COVID-19) crisis, according to the latest figures from the Treasury.

24 Jun

ABI calls for overhaul of pensions tax relief system

The Association of British Insurers (ABI) has called for an overhaul of the UK pensions tax relief system following the publication of research which suggested that basic rate taxpayers are missing out on vital tax relief.

23 Jun

Government urged to consider emergency VAT reduction

The government has again been urged to consider an emergency VAT reduction in order to help businesses once the coronavirus (COVID-19) lockdown ends.

23 Jun

Report finds young people most likely to lose job as result of coronavirus lockdown

A report published by think tank the Resolution Foundation has suggested that young people are most likely to lose their jobs as a result of the coronavirus (COVID-19) lockdown.

22 Jun

Lenders grant 1.9 million mortgage deferrals

The UK's mortgage lenders have granted 1.9 million payment deferrals to customers impacted by the coronavirus (COVID-19), according to the latest figures from UK Finance.

22 Jun

UK public calls for greater transparency on tax avoidance and evasion

According to an annual survey carried out by Fair Tax Mark, the UK public is using the coronavirus (COVID-19) lockdown to take 'decisive action' against tax avoidance practices.

19 Jun

Bank of England announces £100 billion stimulus package for UK economy

The Bank of England has unveiled a £100 billion stimulus package to help boost the UK economy following the coronavirus (COVID-19) pandemic.

19 Jun

UK pushing for global digital tax despite US reservations

The UK is pushing for the introduction of a global digital tax despite the departure of the United States from international negotiations.

18 Jun

HMRC begins sending MTD for VAT 'nudge' letters to firms

HMRC has started to send Making Tax Digital for VAT (MTD for VAT) 'nudge' letters to firms it thinks should've signed up to the scheme but have not yet done so.

18 Jun

Businesses urged to reinstate VAT direct debits

Business have been reminded to reinstate their direct debit mandates before the deferral of VAT payments due to the coronavirus (COVID-19) comes to an end on 30 June.

17 Jun

Research suggests SMEs expect to borrow £48 billion post-coronavirus lockdown

Research carried out by banking group Aldermore has suggested that small and medium-sized enterprises (SMEs) in the UK expect to borrow £48.3 billion once the coronavirus (COVID-19) lockdown ends.

17 Jun

HMRC updates CJRS guidance for employers

On 12 June, HMRC updated its guidance for employers who have furloughed employees under the Coronavirus Job Retention Scheme (CJRS).

16 Jun

UK economy could contract by 8% in 2020, data suggests

Data published by economic forecasting group EY Item Club has suggested that the UK economy could contract by 8% in 2020.

16 Jun

HMRC updates guidance for self-employed coronavirus scheme

HMRC has updated its guidance regarding the eligibility of businesses for the two Self-employment Income Support Scheme (SEISS) grants.

15 Jun

MPs call for VAT reduction to help firms affected by coronavirus

MPs have urged the government to reduce VAT for firms in the tourism sector in order to help them recover from the coronavirus (COVID-19) lockdown.

15 Jun

Jobs and training for the young must be prioritised to boost economy, says CBI

The Confederation of British Industry (CBI) has called on the government to prioritise jobs and training for young people in order to help boost the UK economy once the coronavirus (COVID-19) lockdown ends.

12 Jun

UK economy shrinks record 20.4% as result of coronavirus lockdown

The UK economy shrank by 20.4% in April as the coronavirus (COVID-19) lockdown paralysed business activity, according to the Office for National Statistics (ONS).

12 Jun

LITRG warns self-employed that SEISS is taxable

The Low Incomes Tax Reform Group (LITRG) has warned self-employed individuals that the government's coronavirus (COVID-19) Self-employment Income Support Scheme (SEISS) is taxable.

11 Jun

Government extends furlough scheme for parents on statutory leave

The government has extended the Coronavirus Job Retention Scheme (CJRS) for parents on statutory maternity and paternity leave.

11 Jun

Significant number of SME owners using personal savings to keep business trading

Research carried out by finance provider Nucleus Commercial Finance has suggested that one in seven small and medium-sized enterprise (SME) owners have used personal savings to keep their business trading.

10 Jun

£35 billion loaned to businesses through coronavirus schemes

Business loans through government-backed coronavirus support schemes have reached almost £35 billion, according to the latest figures published by the Treasury.

10 Jun

Pension savers warned over scams and transfers

The Pensions Regulator (TPR) has issued a warning to savers over the dangers of scams and making transfers during the coronavirus (COVID-19) pandemic.

09 Jun

Business debt 'will slow economic recovery' from coronavirus pandemic, IoD warns

The Institute of Directors (IoD) has warned that business debt will hinder the economic recovery from the coronavirus (COVID-19) unless steps are taken to make the burden more manageable.

09 Jun

Government plans to suspend Sunday trading laws to aid UK economy

The government is considering suspending Sunday trading laws for a year in order to aid UK economic recovery once the coronavirus (COVID-19) lockdown ends.

08 Jun

HMRC delays VAT reverse charge on construction services

HMRC has announced a five-month delay to the introduction of the domestic VAT reverse charge for construction services, due to the impact of the coronavirus (COVID-19) pandemic on the sector.

08 Jun

Deadline looming for new entrants to Coronavirus Job Retention Scheme

HMRC has reminded employers who intend to furlough an employee for the first time that the deadline to do so is approaching fast.

05 Jun

CIOT calls for property sales tax change

The government should consider delaying changes to capital gains tax (CGT) rules in relation to residential property sales to take account of the impact of COVID-19 on the property market, according to the Chartered Institute of Taxation (CIOT).

05 Jun

One in five highly skilled freelancers face business closure to COVID-19

A fifth of highly skilled freelances face having to close their business due to the impact of the coronavirus pandemic, according to research from the University of Edinburgh Business School.

04 Jun

Cash payments continued to fall in 2019

The use of cash continued to fall in the UK last year as card payments accounted for over half of transactions for the first time ever, according to figures from UK Finance.

04 Jun

Strong economic recovery likely, but not certain

A strong economic recovery following the coronavirus pandemic is likely although many risks and uncertainties remain, according to a report from Oxford Economics.

03 Jun

Women 'more likely to be on low pay', TUC research suggests

Research carried out by the Trades Union Congress (TUC) has suggested that women are more likely than men to be on low pay.

03 Jun

Over £31 billion borrowed through coronavirus schemes

Over £31 billion has been borrowed through the government-backed schemes that are providing business support during the coronavirus (COVID-19) crisis, according to the latest figures from the Treasury.

02 Jun

Manufacturers call for coronavirus support

The coronavirus crisis has left many manufacturers on a cliff edge and in need of government intervention, Make UK has warned.

02 Jun

MPs open inquiry into £155 billion of tax reliefs

The Public Accounts Committee (PAC) has opened an inquiry into the UK's management of £155 billion of tax relief.

01 Jun

Chancellor announces changes to Job Retention Scheme

Chancellor Rishi Sunak has announced changes to the government's Job Retention Scheme (JRS), which will be slowly wound down over the next few months.

01 Jun

IPSE gives cautious welcome to extension of self-employed scheme

The government's decision to extend COVID-19 support for self-employed workers has met with a cautious welcome from the Association of Independent Professionals and the Self-Employed (IPSE).

RT @exmouthchamber: East Devon District Council @eastdevon Coronavirus Business bulletin 2nd July 2020 : https://t.co/q9rw3EGK65

4 days ago

@ThompsonJenner

The Flexible Furlough Scheme...are you up to date on the rules and guidance? Do you know how it works? How you are… https://t.co/jYpsLwC5Fy

4 days ago

@ThompsonJenner

RT @exmouthchamber: Exmouth Chamber Coronavirus 6th FREE Online Business Support Seminar Wednesday 8 July 10:00hrs for business advice on t…

8 days ago

@ThompsonJenner

We've been shortlisted in the Exmouth Chamber of Commerce #VirtualBusinessAwards....thank you to everyone who kindl… https://t.co/RdMK5mrGiq

8 days ago

@ThompsonJenner

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