30 November 2020: Claims for the third SEISS grant are now open. ICAEW’s Tax Faculty has pre-recorded a webinar which highlights what has changed for the third grant.
Tax news from November 2020
Latest news on the UK tax system, brought to you by the ICAEW Tax Faculty.
26 November 2020: Hidden in the spending review was a statement that some income tax allowances and thresholds and national insurance limits would increase in line with the September CPI figure. ICAEW’s Tax Faculty explains what this means.
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.
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.
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.
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.
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.
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.
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.
20 November 2020: HMRC confirms that annual party exemption applies to virtual festivities, including gifts consumed at the party.