Tag Archives: Covid 19

Overclaimed grants and penalties: CJRS Covid-19 update

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The Institute of Chartered Accountants in England and Wales (ICAEW) has warned taxpayers that they have 90 days to notify HMRC of overclaimed coronavirus (COVID-19) grants. The 90-day period to inform HMRC of any overclaimed amounts is now law. Finance Act 2020 recently received Royal Assent, which confirms the taxability of the Coronavirus Job Retention […]

How to claim money back through Eat Out to Help Out scheme

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The government has released guidance on how to claim money back through the Eat Out to Help Out Scheme. Who can claim If you have registered your establishment for the Eat Out to Help Out Scheme and offered scheme discounts to diners on Mondays to Wednesdays between 3 and 31 August, you can: claim back […]

UK Tax System: OTS recommended measures to simplify VAT

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The Office of Tax Simplification (OTS) has outlined a range of measures intended to help simplify the UK tax system. The OTS stated that the UK tax has become ‘highly complex’, and has ‘not kept pace with changes in society’. As such, in its report, the OTS has recommended 23 measures intended to simplify VAT. […]

Overseas VAT claims delayed: Covid-19

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The tax authority has stated that VAT claims submitted under the Overseas Refund Scheme will be subject to delays. HMRC has admitted that changes to its working practices, as a result of the pandemic, have resulted in delays in processing and refunding VAT claims. The delays relate to payments due to overseas businesses that are not […]

Bounce Back Loan Scheme : Coronavirus

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The government has announced a 100% government-backed Bounce Back Loan Scheme for small business to help them make it through the coronavirus outbreak.   What does the new Small Business Bounce Back Loan actually mean for small businesses?  Chancellor Rishi Sunak announced a new government-backed loan to support small businesses on Monday 27th April. The […]

Lenders offered 1.6 million payment holidays

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  Lenders have given over 1.6 million mortgage payment holidays to support customers impacted by Coronavirus, UK Finance revealed. Payment holidays are now covering 1/7 mortgages following lenders’ steps to help households. Coronavirus crisis has affected the finances of homeowners badly. For the average mortgage holder, the payment holiday amounts to £755 per month of […]

Business Impact of COVID-19 – ONS’s Survey

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  ONS held a survey on Business Impact of COVID-19 Survey for the period 23 March to 5 April 2020. Respondents were asked to respond to the questions between 6 April and 12 April 2020. The questions were based on their experiences from 23 March to 5 April 2020. Office for National Statistics (ONS) has […]

Chancellor expands loan scheme for large businesses

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The chancellor has expanded the government-backed Coronavirus Large Business Interruption Loan Scheme to cover all viable firms. Ahead of the scheme’s launch on Monday (April 20), Sunak unveils the final details of Coronavirus Large Business Interruption Loan Scheme. Who is eligible for the Coronavirus Large Business Loan Scheme? all viable businesses with turnover of more […]

Uinsure offers Two Years Commission Upfront

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  Uinsure has launched a new Covid-19 initiative to support mortgage advisors and their clients in these unprecedented times. They are offering two years commission upfront for advisers as part of a new Covid-19 support initiative. Uinsure will also pay any policy cancellation fees for clients.   Uinsure says remortgages and product transfers are still proceeding. […]

Melton launches desktop valuation service

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  The Melton Building Society is launching its new desktop valuation service for mortgages up to 90% loan-to-value. On the other hand, Swansea Building Society has increased its use of “drive-by” inspections. From tomorrow, Melton will allow desktop valuations on all cases that meet these criteria apart from new-builds. The new service will also be […]