30th October 2020 – Hillmans Weekly Update

I hope you are keeping safe and well.

30^th October 2020 – Hillmans Weekly Update

 

Below I have summarised all the main tax related updates we have seen this week.

 

·         Defer your Self- Assessment payment on account due to coronavirus (COVID-19)

·         Job Retention and Bonus Schemes

·         Working Safely During COVID-19

·         Travel Corridors

 

If you have any queries about this week’s content, or if you need any assistance please do not hesitate to contact me.

 

I hope you have a great weekend!

 

Best wishes,

 

Steve

 

Steven Hillman BSc (Hons) ACA

Chartered Accountant

Tel: 01934 444100

https://www.hillmans.co.uk/covid-19-updates

 

Defer your Self- Assessment payment on account due to coronavirus (COVID-19)

The HMRC webpage link below allows you to check what you need to do after 31 July 2020 if you choose to defer your second payment on account for the 2019 to 2020 tax year.

 

You had the option to defer your second payment on account if you were:

 

•           registered in the UK for Self-Assessment and

 

•           finding it difficult to make that payment by 31 July 2020 due to the impact of coronavirus

 

You can still pay your deferred July 2020 payment on account any time up to 31 January 2021. There will be no interest or penalty as long as you pay in full by that date.

 

See: https://www.gov.uk/guidance/defer-your-self-assessment-payment-on-account-due-to-coronavirus-covid-19

 

Job Retention and Bonus Schemes

The Treasury has published its Direction in relation to the Coronavirus Job Retention Scheme and Job Retention Bonus Scheme. This is the first step in the Treasury instructing HMRC to be responsible for the payment and management of these schemes.

 

We will issue further guidance to our clients once the details are known.

 

The Job Retention Scheme will apply from 1 November and if your business intends to apply for this support, please contact us and we can estimate your claim in advance and help you make the claim to HMRC.

 

See: https://www.gov.uk/government/publications/treasury-direction-made-under-sections-71-and-76-of-the-coronavirus-act-2020

 

Working Safely During COVID-19

The Government has published 14 guides which cover a range of different types of work and how to work safely during Coronavirus COVID-19.

 

Many businesses operate more than one type of workplace, such as an office, factory and fleet of vehicles.

 

You may need to use more than one of these guides as you think through what you need to do to keep people safe. Priority actions are outlined at the top of each guide.

 

The latest changes are guides for Performing Arts – updated guidance on thinking about risk (section 1) and managing performances (section 3).

 

See: https://www.gov.uk/guidance/working-safely-during-coronavirus-covid-19

 

Travel Corridors

The list of countries, territories and regions from where you can travel to England, and may not have to self-isolate, regularly changes.

 

If you travel on business, keep your eye on the Government website page below.

 

The list is updated regularly, with the update on the 25th October adding Crete to the list. Italy, San Merino and Vatican City State were removed from the list.

 

See: https://www.gov.uk/guidance/coronavirus-covid-19-travel-corridors