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Over half a million businesses could collapse without further support February 25, 2021

Almost 600,000 UK employers are at risk of business collapse in the spring if there is no extension of government coronavirus (COVID-19) support, according to a new report by the Institute for Public Policy Research (IPPR). Those employers account for a third of the UK’s business turnover and employ around nine million people. Most companies
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Clarity needed on taxation of COVID test costs, says ICAEW February 25, 2021

The Institute of Chartered Accountants in England and Wales (ICAEW) has urged HMRC to confirm whether coronavirus (COVID-19) antigen tests paid for by employers will continue to be exempt from income tax and national insurance after 5 April 2021. Guidance published by HMRC states that employers and employees will not be liable for any income
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IoD calls for government to put entrepreneurs at heart of economic recovery February 25, 2021

In its 2021 Budget submission, the Institute of Directors (IoD) has urged the government to put entrepreneurs ‘at the heart’ of the economic recovery from the coronavirus (COVID-19) pandemic. The IoD called for the creation of a stimulus package to ‘unleash investment in start-ups and scale-ups through targeted reliefs’, and for the government to provide
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HMRC’s customer service levels impacted by COVID-19 February 11, 2021

Data published by HMRC has revealed that its customer service levels have been adversely affected by the coronavirus (COVID-19) pandemic. HMRC stated that this is a unique financial year as the department continues to operate ‘at the heart of the government’s COVID-19 response’. According to HMRC, the pandemic has ‘reinforced the need for a flexible,
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1.8 million still to file self assessment returns February 11, 2021

The self assessment deadline on 31 January was missed by 1.8 million taxpayers, according to figures from HMRC. However, those with a late tax return will not be charged a late filing penalty provided they submit their return online by 28 February. HMRC’s data showed that over 10.7 million people did submit their 2019/20 self
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