29 May: Changes to the Coronavirus Job Retention Scheme (CJRS) will apply a month earlier than expected. From 1 July the scheme will allow part-time working, but staff must have been furloughed by 10 June to be eligible.
Tax news from May 2020
Latest news on the UK tax system, brought to you by the ICAEW Tax Faculty.
29 May: The Chancellor has announced a second and final grant to the self-employed who are eligible for the Self-employment Income Support Scheme (SEISS), to be capped at £6,570.
29 May 2020: Employers can file their Appendix 4, 7A and 7B end-of-year reports by email, HMRC has confirmed.
27 May: ICAEW’s Tax Faculty urges HMRC to facilitate refunds of instalment payments of corporation tax that companies believe they have overpaid in respect of prior periods due to the impact of coronavirus.
26 May: As the Coronavirus Statutory Sick Pay Rebate Scheme launches, Tax Faculty members outline useful information to help businesses make a claim.
26 May: HMRC has published guidance outlining how businesses can reclaim overpaid VAT from the historical operation of some gaming machines. In April, the Upper Tribunal dismissed HMRC’s appeal in two long-running VAT cases where claimants argued that to charge standard rate VAT on the operation of specific types of gaming machines was a breach of ‘fiscal neutrality’.
22 May: Confirmation on what training furloughed employees can undertake and the eligibility of TUPE staff has been made in new legislation on the CJRS. The Tax Faculty outlines the changes.
21 May: Homeowners in Scotland temporarily have three years to sell their home after buying a replacement property and claim a refund of land and buildings transaction tax (LBTT).
19 May 2020: Small employers and their tax agents will be able to submit claims for rebates of statutory sick pay linked to coronavirus from 26 May, HMRC has confirmed.
18 May: In line with its updated guidance on appealing penalties, HMRC has amended its commentary on DAC6 to clarify how 'reasonable excuse’ will apply in relation to the coronavirus pandemic.
18 May: Following the launch of the Self-employment Income Support Scheme (SEISS) the Tax Faculty provides guidance on how taxpayers and their agents can request a review of grant entitlement.
May 14: A sharp reminder has been circulated by HMRC asking agents not to use client Government Gateway credentials to claim the SEISS grant on their behalf.
14 May: Organisations reimbursing staff for equipment purchases enabling them to work from home during the coronavirus pandemic will not have to pay tax, confirms Treasury minister.
13 May 2020: The UK government is temporarily relaxing the eligibility criteria for tax-free childcare and 30 hours free childcare to support working parents during the coronavirus pandemic.
13 May: The Self-employment Income Support Scheme (SEISS) has opened for claims with payments expected by 25 May. Initial reports to ICAEW’s Tax Faculty indicate that the process is straightforward.