New tax measures hidden in Finance Bill
Draft legislation supporting the Finance Bill 2020-21 contained a raft of policy statements.
‘Eat Out to Help Out’ and VAT reduction
Temporary 5% VAT rate for food, accommodation and attractions starts 15 July.
Job retention bonus
The government is offering £1,000 for every furloughed employee you continue to employ through to the end of January 2021.
Economic Update Summer 2020
The UK is facing “profound economic challenges” as a result of the pandemic.
Second Self-Employed Income Support grants to be paid in August
Self-employed traders need not have claimed a grant under the old scheme to qualify for the August payment.
Flexible furlough starts 1st July
“Flexible furlough” grant scheme will allow employers to gradually bring their furloughed employees back to work part-time