Stockport based accountancy firm Hallidays’ latest financial news and business tips includes summaries of Rishi Sunak’s latest announcements including the Job Support Scheme and Winter Economy Plan.
Job Support Scheme
The existing job support scheme, the furlough scheme, comes to an end on 31 October.
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Winter Economy Plan support for the self-employed
As part of the Winter Economy Plan the Self-Employment Income Support Scheme (SEISS) will be extended under the name SEISS Grant Extension.
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VAT deferral and enhanced Time to Pay for self assessment
As part of the Winter Economy Plan the government has announced options for deferred VAT and income tax self assessment payments.
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Changes to the Bounce Back Loan and Coronavirus Business Interruption Loan Schemes
The government has announced options to extend terms and change payments.
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The VAT reverse charge
HMRC has issued detailed guidance on the domestic reverse charge changes scheduled for 1 March 2021.
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Ministers announce new grants for businesses affected by local lockdowns
Businesses in England that are required to shut because of local interventions will now be able to claim up to £1,500 per property every three weeks.
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New trade arrangements with the EU from 1 January 2021
HMRC has sent letters to VAT-registered businesses in Great Britain trading with the EU, or the EU and the rest of the world.
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House sales rise following the introduction of stamp duty holiday
The government has announced that residential property transactions rose in August following the introduction of a stamp duty holiday.
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