Key dates coming up for Coronavirus Job Retention Scheme

25 November: ICAEW’s Tax Faculty provides a round-up of key deadlines and dates for the extended furlough scheme, including dates for submission of claims.

Some CJRS claim information to be made public from December

25 November: HMRC will publish the names, an indication of the value of claims and, for companies and LLPs, the Company Registration Numbers of employers who make claims under the furlough scheme for periods from December onwards.

New ‘significantly reduced profits’ test for third SEISS grant

25 November 2020: The eligibility criteria for the third SEISS grant have been further tightened. ICAEW’s Tax Faculty warns that the rules have changed, and claimants need to consider them carefully before claiming from 30 November.

Brexit transition planning: VAT on overseas goods

24 November: HMRC has published guidance on how organisations deal with VAT when selling overseas goods to customers within Great Britain from 1 January 2021.

UK innovation tax reliefs: are they delivering benefits?

24 November 2020: Reports commissioned by HMRC suggest that the research and development expenditure credit (RDEC) scheme is the most effective incentive for encouraging additional investment in R&D.

Tax news in brief

24 November: Highlights from the broader tax news this week includes: HMRC begins checks on 'Eat Out' scheme payments, no clarity on Budget date, government guidance for staff dealing with social security applications post-Brexit and gender pay gap reporting when employees have been furloughed.

Corporate Criminal Offence: Why all businesses should be taking this seriously

23 November 2020: Lucy Sauvage, a Director in BDO’s Tax Risk team talks to ICAEW’s Tax Faculty and answers key questions about the effect of the pandemic on risks relating to the corporate criminal offence (CCO) and what organisations need to be thinking about.

HMRC clarifies treatment of virtual Christmas parties

20 November 2020: HMRC confirms that annual party exemption applies to virtual festivities, including gifts consumed at the party.

Tax exemption for COVID antigen test, but not antibody test

19 November: Legislation will come into force on 8 December providing a temporary exemption from income tax and national insurance on coronavirus antigen tests provided to employees.

Scammers ramp up activity ahead of self assessment deadline

19 November: HMRC is urging taxpayers to beware of contact from potential fraudsters and to report any suspicious messages as the self assessment deadline approaches.

Brexit transition planning: VAT refunds

19 November: HMRC confirms access to the EU VAT refund system will end on 31 March 2021 and claims relating to VAT incurred after 31 December 2020 will have to be made manually.

Director payrolls - what has changed for CJRSV3

18 November 2020: Annual PAYE schemes often meant that furloughed directors were excluded from the original Coronavirus Job Retention Scheme (CJRS). ICAEW’s Tax Faculty looks at whether they will be eligible under the third scheme.