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FCA confirms support for mortgage borrowers September 24, 2020

The Financial Conduct Authority (FCA) has confirmed future support for mortgage borrowers if they continue to face payment difficulties due to the coronavirus (COVID-19). The regulator has published finalised guidance to ensure support for consumers who have taken payment deferrals and still face financial difficulties, as well as those whose financial situation may be newly
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MPs urge Chancellor to extend job retention scheme September 24, 2020

MPs have urged 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 reduce the amount paid by the government from August. From the first week of August, employers had to start paying national
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HMRC urges VAT-registered businesses to prepare for Brexit trading changes September 24, 2020

HMRC has written to VAT-registered businesses that trade with the EU outlining how they should prepare for Brexit trading changes set to take effect from 2021. The letters have been sent to VAT-registered businesses in Great Britain trading with the EU, or with the EU and the rest of the world. From 1 January 2021,
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Up to £3.5 billion in furlough payments fraudulent, HMRC finds September 22, 2020

HMRC has revealed that almost £3.5 billion in Coronavirus Job Retention Scheme (CJRS) payments have been claimed fraudulently or paid out in error. HMRC told the Public Accounts Committee (PAC) that it estimates that between 5% and 10% of CJRS funds have been provided in error. According to the PAC, in 2019 £30 billion in
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IoD urges government to extend coronavirus insolvency measures September 22, 2020

The Institute of Directors (IoD) has called for the government to extend emergency coronavirus (COVID-19) insolvency measures to prevent company collapses and job losses. Directors have a duty to cease trading if their company is facing insolvency, and could face financial or legal liabilities if they seek finance instead. In June, the government introduced emergency
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