While the nation’s attention is currently fixed on the work of our carers and hospital workers, little thought is paid to those that are self-employed and still need to submit their tax returns.
Changes to the off-payroll working rules will now apply from 6 April 2021 and not 6 April 2020 as previously planned. This is a deferral of the reform and not a cancellation.
This deferral has been announced in response to Covid-19, to help businesses and individuals deal with the economic impacts of the pandemic.
Regulators are urging savers to keep calm and not rush to make any decisions about their pension in response to the COVID-19 pandemic.
The Pensions Regulator (TPR) The Financial Conduct Authority (FCA), supported by the Money and Pensions Service (MaPS), say fears over the impact of the pandemic on markets and personal finances may make savers more vulnerable to scams or making a decision that could damage their long-term interests.
There are four weeks to file the 18/19 tax return to enable you to access the government grant announced by Chancellor Rushi Sunak.
The self-employed have now been passed their lifeline amidst the Covid-19 pandemic from the Chancellor Rushi Sunak as he announced a new self-employed income support scheme, this will cover up to 80% of self-employed workers’ average taxable monthly profits.
The Financial Conduct Authority (FCA), Financial Reporting Council (FRC) and Prudential Regulation Authority (PRA) have announced a series of actions to ensure that information continues to flow to investors and to support the continued functioning of the UK’s capital markets.
The FRC has published guidance for companies preparing financial statements and a bulletin for auditors covering factors to be taken into account when carrying out audits during the current Covid-19 crisis.
The government has announced a raft of measures to aid businesses through this unprecedented time.
On Friday 20th March 2020, the government announced a scheme called the Coronavirus Job Retention Scheme, under which all UK employers will be able to access support to continue paying part of their employees' salary for those employees that would otherwise have been made redundant during this crisis. HMRC will reimburse 80% of "furloughed workers" wage costs, up to a cap of £2,500 per month.