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Tax news October 2020

Latest news on the UK tax system, brought to you by the ICAEW Tax Faculty.

COVID-19: HMRC clarifies JSS rules

31 October: Ahead of its planned launch HMRC released detailed guidance on how the Job Support Scheme (JSS) will work. Following the Prime Minister's statement on the evening of 31 October, HMRC has confirmed that the JSS will not launch until the furlough scheme has closed.

To succeed digital tax systems must work for all

28 October: The digitalisation of tax offers significant potential benefits for taxpayers and agents, as well as administrations, but these will not be achieved without collaboration agree industry experts at the Wyman Symposium.

Are you planning a virtual Christmas party?

Updated 20 November: Organisations wanting to provide some festive cheer for their staff this winter face some difficult challenges. ICAEW’s Tax Faculty outlines the tax considerations that employers will need to think about.

Changes to the third and fourth SEISS grants

22 October 2020: Rishi Sunak has announced that the third SEISS grant will now be based on 40% of average trading profits and businesses temporarily unable to trade due to coronavirus will be eligible.

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