5% Rate On Tourism And Hospitality Ends 30 September
The temporary 5% VAT rate that has applied to supplies made in the tourism and hospitality sector since the start of the pandemic comes to an end at the end of September. The rate then increases to 12.5% from 1 October until 31 March 2022 when it reverts to the standard rate. For those businesses […]
September Is The Last Month For CJRS “Furlough” Grants
The Government are pulling the plug on support to employers for furloughed staff at the end of September as they anticipate that the economy will be back to normal by October. The grant claims for employees furloughed in the month of September are 60% of the employee’s usual pay up to a maximum cap of […]
VAT Deferral New Payment Scheme
Businesses that deferred VAT payments last year can join the new scheme to pay it in smaller monthly instalments. If you deferred VAT payments due between 20 March 2020 and 30 June 2020 and still have payments to make, you can: Pay the deferred amount in full, on or before 31 March […]
Business Evictions Ban Extended Until March 2021
The government has extended a ban on evictions of commercial property tenants until the end of March 2021, in a move that will be welcomed by struggling restaurant owners and retailers. A moratorium on business evictions was introduced earlier this year to help businesses ride out the virus crisis, and had been extended to 30 […]
England – Closing Certain Businesses And Venues In England
There is updated information about business and venue closures in England, reflecting the introduction of local restriction tiers that came into effect on 2 December 2020. See here for details.
England – Local Restriction Support Grant (For Open Businesses)
The Local Restrictions Support Grant (LRSG (Open)) supports businesses that have been severely impacted due to temporary local restrictions. Businesses that have not had to close, but which have been severely impacted due to local tier 2 or tier 3 restrictions, may be eligible for LRSG (Open). Eligible businesses may be entitled to a cash […]
Vat: Reduced Rate For Hospitality, Holiday Accommodation And Attractions
Guidance has been updated to reflect the extension of the VAT reduced rate for tourism and hospitality from 12 January to 31 March 2021. The government made an announcement on 8 July 2020 allowing VAT registered businesses to apply a temporary 5% reduced rate of VAT to certain supplies relating to: hospitality hotel and holiday […]
VAT Deferred Due To Coronavirus
If you deferred VAT between 20 March and 30 June 2020 and still have payments to make, you can: pay the deferred VAT in full on or before 31 March 2021 opt into the VAT deferral new payment scheme when it launches in 2021 contact HMRC if you need more help to pay You can […]
Payment Deferral Or Deregister From Money Laundering Supervision Due To Coronavirus (Covid-19)
If you were due to renew money laundering supervision with HMRC between 1 May and 30 September 2020 you were able to either: defer payment for up to 6 months deregister if you stopped trading due to coronavirus If you continued to operate and carry out activity covered by the Money Laundering Regulations (MLR), you […]
Business Interruption Loan Scheme
117 lenders have now signed up for the scheme. The Coronavirus Business Interruption Loan Scheme (CBILS) provides financial support to smaller businesses affected by coronavirus (COVID-19). The scheme helps small and medium-sized businesses to access loans and other kinds of finance up to £5 million. The government guarantees 80% of the finance to the lender […]
