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More firms to benefit from CBILS following changes to loan rules

Changes to state aid rules mean that more small businesses can benefit from the government's Coronavirus Business Interruption Loan Scheme (CBILS).

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Furloughed workers to get full redundancy payments

The government has introduced legislation to ensure furloughed employees receive statutory redundancy pay based on their normal wages

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Government extends Tax-Free Childcare scheme as result of coronavirus

The government has further extended Tax-Free Childcare (TFC) to 31 October 2020 for parents who may have fallen below the minimum income requirement

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HMRC – Don’t forget to renew your Tax Credits

Taxpayers who claim tax credits have until Friday 31 July to tell HMRC about changes to their circumstances or income before the renewal deadline, or risk incorrect payments

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Treasury outlines agenda for modernised digital tax system

The Treasury has outlined the next steps in its plan to create a 'modernised digital tax system fit for the 21st century'.

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Claims deadline approaching for first phase of furlough scheme

Coronavirus Job Retention Scheme (CJRS) claims for periods ending on or before 30 June 2020 must be made by 31 July 2020, HMRC has reminded employers.

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Chancellor asks OTS to review capital gains tax

Chancellor Rishi Sunak has asked the Office of Tax Simplification (OTS) to carry out a thorough review of capital gains tax (CGT).

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Self assessment deferral available to the self-employed

Self-employed workers who are struggling due to the coronavirus (COVID-19) pandemic can defer their second 2019/20 self assessment payment on account

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HMRC invites hospitality industry to register for Eat Out to Help Out

The Eat Out to Help Out registration service is now live.Restaurants and other establishments serving food for on-premises consumption can now sign up to the new initiative.

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Chancellor announces Job Retention Bonus in Summer Economic Update

On 8 July Chancellor Rishi Sunak delivered a Summer Economic Update, which outlined measures designed to boost the UK economy following the coronavirus (COVID-19) lockdown.

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Calls for overhaul of pensions tax relief system

The Association of British Insurers (ABI) has called for an overhaul of the UK pensions tax relief system following the publication of research which suggested that basic rate taxpayers are missing out on vital tax relief.

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Lenders grant 1.9 million mortgage deferrals

The UK's mortgage lenders have granted 1.9 million payment deferrals to customers impacted by the coronavirus (COVID-19

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Pension savers warned over scams and transfers

The Pensions Regulator (TPR) has issued a warning to savers over the dangers of scams and making transfers during the coronavirus (COVID-19) pandemic.

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UK economy could contract by 8% in 2020, data suggests

Data published by economic forecasting group EY Item Club has suggested that the UK economy could contract by 8% in 2020.

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Significant number of SME owners using personal savings to keep business trading

One in seven small and medium-sized enterprise (SME) owners have used personal savings to keep their business trading.

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Covid-19: social distance rules relaxed from 4 July

Prime Minister Boris Johnson has announced significant relaxations to the rules on social distancing

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HMRC advisory fuel rates from 1 June 2020

HMRC have published company car advisory fuel rates for use from 1 June 2020.

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COVID-19: HMRC updates guidance on reasonable excuse

HMRC have updated their guidance on ‘reasonable excuse’, and confirmed that they ‘will consider coronavirus as a reasonable excuse for missing some tax obligations’.

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Covid-19: self assessment payment deferrals

Taxpayers can choose how and when they can delay making a second payment on account for the 2019-20 tax year following updated guidance from HMRC

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Government changes ISA rules to help individuals affected by coronavirus

The government has altered the Lifetime ISA rules to help those adversely affected by the coronavirus (COVID-19) pandemic.

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