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HMRC stakeholder digest

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HMRC has published a roundup of recent guidance covering the various coronavirus support options for businesses – highlighting the fourth SEISS grant, including the terms for eligibility which are based around there being a significant reduction in trading profits due to the impact of coronavirus (see SEISS 4th Direction). The update also covers the job retention scheme and how to treat periods of paid leave taken by employees on furlough.

HMRC also encourages businesses which previously deferred VAT payments which otherwise would have been due between 20 March and 30 June 2020, to join the VAT deferral new payment scheme to benefit from the maximum number of monthly instalments. Businesses need to apply to join the scheme by 21 June 2021.

Issue: 1527
Categories: News