England – Local Restriction Tiers: What You Need To Know
The government will replace the national lockdown on Wednesday 2 December with a regionally differentiated approach, where different tiers of restrictions apply in different parts of the country.
Pay VAT Deferred Due To Coronavirus (COVID-19)
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 or contact HMRC if you need more help to pay
Coronavirus Job Retention Scheme (CJRS)
The CJRS has been extended to 31 March 2021 for all parts of the UK and HMRC has updated its guidance. From 1 November the Government will pay 80% of employees’ usual wages for the hours not worked, up to a cap of £2,500 per month. The government will review the terms of the scheme in January.
COVID-19 Winter Plan
The government’s plan for managing COVID-19 through the end of 2020 and into the start of 2021 was released 23 November.
Christmas Arrangements
A joint statement on UK-wide Christmas arrangements from the UK Government and Devolved Administrations has been published outlining UK wide arrangements for Christmas.
Economic Emergency Has Only Just Begun
In his recent spending review Rishi Sunak said the “economic emergency” caused by Covid-19 has only just begun, as he warned the virus would mean lasting damage to growth and jobs. Official forecasts now predict the biggest economic decline in 300 years.
Self-Assessment Taxpayers – Time To Pay Extension
Approximately 11 million self-assessment taxpayers will be able to benefit from a separate additional 12-month extension from HMRC on the “Time to Pay” self-service facility, meaning payments deferred from July 2020, and those due in January 2021, will now not need to be paid until January 2022.
New Package to enforce Self Isolation
People will be required by law to self-isolate from 28 September, supported by payment of £500 for those on lower incomes who cannot work from home and have lost income as a result. New fines for those breaching self-isolation rules will start at £1,000 – bringing this in line with the penalty for breaking quarantine after international travel.
Kickstart Scheme Latest News
The Kickstart Scheme provides funding to employers to create new 6-month job placements for young people who are currently on Universal Credit and at risk of long-term unemployment.
Winter Economy Plan – Deferral of VAT Bills
Up to half a million businesses who deferred their VAT bills will be given more breathing space through the New Payment Scheme, which gives them the option to pay back in smaller instalments. Rather than paying a lump sum in full at the end March next year, they will be able to make 11 smaller interest-free payments during the 2021-22 financial year.
