Technical News

 


On 8 July the Chancellor of the Exchequer Rishi Sunak announced the eat out to help out scheme. Further information on the scheme, including promotional material and how to register, can be found from this collections page on GOV.UK

For anyone following the Silver case on top slicing (and a very brief explanation follows below if you have not) you will be aware that the Chancellor’s March 2020 Budget brought some helpful changes.

HMRC have recently expanded the range of performance measures and management information they publish, including debt management, customs and customer experience metrics (see performance and management information) and the number of closed civil and criminal compliance checks, total prosecutions and criminal sentences and the outcomes of court decisions (see quarterly experimental compliance data).

We have received an update from HMRC in relation to the non-receipt of a HMRC letter advising the NRCL of their CT UTR.

HMRC has asked us to share the following message:

In response to the COVID-19 outbreak, HMRC announced that taxpayers could opt to defer their second self-assessment payment on account for the 2019/20 tax year if they are finding it difficult to make their second payment on account by the normal due date of 31 July 2020 due to the impact of coronavirus. HMRC will not charge interest or penalties on any amount of the deferred payment on account, provided it is paid on or before 31 January 2021.

The CIOT are pleased to provide access to a recent webinar arranged by Harrow and North London Branch.  

On 29 May 2020, the Chancellor announced that the SEISS would be extended with eligible businesses able to claim a second and final payment in August. The payment will be worth 70% of their average monthly trading profits, paid out in a single instalment and capped at £6,570 in total. He also announced that claims for the first payment could continue until 13 July 2020.

HMRC has provided us with the following information when making claims under the Job Retention Scheme which include individuals where no National Insurance Number (NINO) is held or the employee has a temporary National Insurance Number.

Please see below an important message received from HMRC on 25 June 2020 regarding deferral of DAC6 reporting deadlines: