In an unusual appeal, HMRC has asked for the assistance of organisations and workers in gathering evidence to help tackle unethical disguised remuneration schemes. More precisely, HMRC is looking for stakeholders to help them understand why people are continuing to engage with disguised remuneration schemes, how they can identify new schemes, and where they can take further action to close schemes and reclaim unpaid tax fairly.
Since the Coronavirus Job Retention Scheme (CJRS) went live in March, over one million businesses have made a claim. As a result, over 9 million employees have been able to keep their job, as they have been placed on furloughed leave.
In July’s Summer Statement (8 July), Chancellor Rishi Sunak announced a series of packages “to support jobs in every part of the country, give businesses the confidence to retain and hire, and provide people with the tools they need to get better jobs.” One of these packages is the Job Retention Bonus.
More information on the Job Retention Bonus is scheduled to be available later in July. However, keep reading and find out what we already know about the Job Retention Bonus, and whether or not it could be useful for contractors operating through a personal service company (PSC).
In a bid to tackle fraud in the construction industry, HMRC will be introducing a domestic reverse charge which will take effect from 1st March 2021. The new legislation will only apply to specific building and construction services and will mean that the customer will now be liable to account for the VAT on purchases.
The Employment Allowance allows eligible businesses in the UK to reduce their annual National Insurance liability by up to £4,000. Our blog explores how the allowance works and how your company could benefit from it.
Rishi Sunak unveils stamp duty holiday, furlough bonus and VAT cuts in the hospitality sector as part of £30bn plan to prevent mass unemployment and kickstart the economy.