HMRC’s reminder for businesses

The tax agents have been asked by HMRC to make their clients recall that tax has to be paid even for COVID–19 support grants or payments and declaration should be made on their company tax returns. These support grants or payments should be considered and noted as income while evaluating…

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…