The new digital lender, Monument Bank, has secured an ‘authorisation with restriction’ (AWR) banking licence from the UK regulatory authorities, the Prudential Regulation Authority and the Financial Conduct Authority. It has achieved this milestone in just over 18 months, which is one of the fastest rates of progress for any new bank. The move comes...
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HMRC has published guidance on how businesses can claim the government’s £1,000 job retention bonus. The bonus will be available to employers who keep furloughed workers on the payroll for the next three months. The bonus is a £1,000 one-off taxable payment to the employer, for each eligible employee that was furloughed and kept continuously...
Chancellor Rishi Sunak has now announced the extension of the Self-Employment Income Support Scheme (SEISS) until April 2020, to the relief of many businesses. The businesses praised the scheme for helping them to stay afloat during the coronavirus lockdown. However, the scheme has also faced significant criticism for excluding a number of self-employed people who...
Rishi Sunak unveils the government’s Winter Economy Plan to protect jobs and support businesses during the coronavirus (COVID-19) downturn this winter. Chancellor announced new measures today to provide support to businesses and workers impacted by coronavirus across the UK. A new emergency jobs scheme will be introduced to protect jobs during the coronavirus (COVID-19) downturn...
The Coronavirus Job Retention Scheme (CJRS) has played an immense role in protecting jobs since the start of the pandemic. Therefore, MPs have pushed Chancellor Rishi Sunak to extend the Coronavirus Job Retention Scheme (CJRS) to help avoid mass redundancies. The CJRS is set to be wound down in October and changes were implemented to...
The English High Court handed down a judgment in the UK Financial Conduct Authority’s test case on business interruption insurance coverage. The Court found in favour of the arguments advanced for policyholders by the FCA on the majority of the key issues. The FCA noted in its original announcement its view that most policies in...
HMRC has changed its guidance on the VAT treatment of supplies of digital advertising to charities following extensive discussions led by the Charity Tax Group. They have announced that the zero rate of VAT is applicable to a range of digital advertising services when supplied to charities. There is a zero-rate of VAT for certain...
HMRC has revealed that they may have paid almost £3.5 billion in furlough scheme money on fraudulent or wrong claims. That means CJRS payments have been claimed fraudulently or paid out in error. The tax authority told MPs on the Public Accounts Committee it estimates that they have awarded 5-10% of furlough cash mistakenly. Latest...
The Treasury has published a consultation document on reforms to the VAT refund rules. The government departments, devolved administrations, the NHS and Highways England are eligible for VAT refunds under Section 41 of the VAT Act 1994 Under the current VAT refund rules. However, unlike commercial organisations, public sector organisations do not carry out business...
The UK government’s £2 billion Kickstart Scheme is now open for employer applications. Chancellor Rishi Sunak announced the scheme as part of the Plan for Jobs in July Summer Economic Update. The Kickstart Scheme aims to create work placements for young people. Moreover for those who are at risk of becoming unemployed for the long-term....
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Batley: 504B Bradford Road, WF17 5JY
Bradford: 22 Muirhead Drive, Bradford, BD4 0HJ
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Batley: 504B Bradford Road, WF17 5JY
Bradford: 22 Muirhead Drive, Bradford, BD4 0HJ
Birmingham: 9 Sheaf Lane, Coventry Road, Birmingham
London: Suite 2462, Unit 3A,34-35 Hatton Garden,London, EC1N 8DX
OUR LOCATIONSWhere to find us
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