July 30, 2020

Following criticism from the Treasury Select Committee, HMRC has abandoned its plan to make workers pay income tax on coronavirus (COVID-19) testing kits purchased by their employer.   

Meanwhile, Chancellor Rishi Sunak has asked the Office of Tax Simplification (OTS) to carry out a review into capital gains tax (CGT) in order to ascertain how it can...

June 29, 2020

The Low Incomes Tax Reform Group (LITRG) has warned the self-employed that the government's coronavirus (COVID-19) Self-employment Income Support Scheme (SEISS) grants are chargeable to income tax and national insurance. The LITRG is concerned that people may wrongly assume the funds are exempt from tax.    

Meanwhile, HMRC has updated its guidan...

May 28, 2020

The government continues to announce and modify a range of measures designed to help businesses and individuals adversely affected by the coronavirus (COVID-19) crisis. On 20 May the government launched its Future Fund package, which aims to support start-up businesses not eligible for other COVID-19 rescue measures.

Meanwhile, temporary changes have been...

April 30, 2020

The UK economy continues to be gripped by the coronavirus (COVID-19) pandemic, with the government's compulsory lockdown being extended by 'at least' three weeks until 11 May. Businesses across the country continue to feel the adverse effects of the lockdown, whilst the government announces measures to keep the economy buoyant during the pandemic.


March 18, 2020

In the last few days, the Government has made major announcements about help for small businesses and individuals affected by coronavirus. Below is a summary of the significant points, although details are awaited as to how some of these schemes may be accessed.

The following measures were announced in the Budget and have not (to date) been updated.

  • Sta...

February 12, 2020

The Chancellor recently announced that the 2020 Budget will be delivered on Wednesday 11 March. The 2020 Budget will be the first to be delivered after the UK's scheduled departure from the EU on 31 January.

The Trades Union Congress (TUC) recently suggested that average household debt is higher now than it was during the 2008 financial crisis. Unsecured h...

December 30, 2019

Following weeks of campaigning, the Conservative Party won December's General Election with a Commons majority of 80 – its biggest majority since 1987. In his victory speech, Prime Minister Boris Johnson promised to take the UK out of the EU by 31 January.

Meanwhile, Chancellor Sajid Javid recently stated that the expansion of the off-payroll rules to the...

December 1, 2019

The review of the controversial Loan Charge has been put on hold until after the upcoming General Election. HMRC has set a January 2020 deadline for settling claims under the Loan Charge, which has sparked concerns that the review will now not be made public in time.

Meanwhile, research carried out by media company Thomson Reuters has suggested that nearly...

November 1, 2019

In a new report, the Financial Reporting Council (FRC) stated that businesses are failing to meet investors' expectations for clear financial reporting in regard to climate-related issues.

Meanwhile, employers are urged to ensure they are fully compliant with their payroll obligations. Chancellor Sajid Javid's recent pledge to raise the National Living Wag...

September 26, 2019

Following an industry backlash, HMRC has delayed the introduction of the VAT reverse charge. The charge was set to take effect from 1 October 2019, but this has now been pushed back by 12 months due to fears that firms in the construction industry 'are not ready'.

Meanwhile, the Federation of Small Businesses (FSB) has called for the government to tackle t...

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