DIY housebuilders can reclaim VAT on blinds and shutters

HMRC has now allowed manual window blinds and shutters by updating its guidance on the DIY housebuilder’s scheme that will be eligible for a VAT refund. They have confirmed that the policy will be applied from 5 October 2020. This amendment allows such items that fit the description of ‘building…

Reinsurance Scheme opens for live events

Due to the Covid pandemic, the government has opened a Reinsurance Scheme that sums up around £800 million and will cover many live events against the cancellations stemming. This live event sector has been opened to support small businesses and self-employed that totals around 700,000 which is worth more than…

Late Payment Penalties

The new legislation has been implemented as Late Payment Penalties that will be applied to payments due from VAT businesses and ITSA taxpayers. The current late payment penalties in Schedule 56 of FA 09 will be replaced by a new regime for ITSA taxpayers whereas, the Surcharge will be replaced…