New COVID Fraud Hotline

The government has launched a new COVID fraud hotline to stop fraudsters who make illegal claims for support. The public can now call a dedicated phoneline anonymously and free of charge to report suspected fraudulent activity. The launch of the new Fraud Hotline is an initiative of government and independent charity Crimestoppers. Although fraud is […]

Airbnb landlords may be investigated by HMRC

Online lettings firm Airbnb agreed to provide HMRC with details of its hosts’ income, which may increase tax investigations. The Grunberg & Co has warned Airbnb landlords that HMRC may be investigating them following the agreement a decision by the short lets platform to share data with HM Revenue & Customs. The Grunberg & Co accountancy […]

Job Support Scheme (JSS) extension

The government will expand its Job Support Scheme (JSS) to protect jobs and support businesses closed due to local lockdowns. The business had to close their doors due to local lockdowns as the number of Coronavirus (COVID-19) cases continues to rise in some areas. So, under the JSS extension, the government will pay two-thirds of […]

The new digital lender secures banking licence

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 […]

Furlough Job Retention Bonus Updates

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 […]

Self-Employment Income Support Scheme: Extension announced

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 […]

Winter Economy Plan: Chancellor announced a new Job Support Scheme

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 […]

Job Retention Scheme (CJRS): MPs urged Chancellor for extension

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 […]

UK FCA Business Interruption Insurance Test Case Judgment

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 […]

Zero rate of VAT extended for charity digital advertising

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 […]