The fee for plastic shopping bags in England will be doubled to 10 pence and extended to all shops from April 2021. Small retailers, those employing 250 people or fewer, will no longer be exempt, the Department for Environment, Food and Rural Affairs (Defra) said. According to Defra, since the charge was first introduced in… Read more…

HMRC are inviting those individuals that are self employed or a member of a partnership and have been adversely affected by coronavirus to claim a second grant under the Self Employed Income Support Grant. Applications for the first grant under the scheme closed on 13 July 2020. The second and final taxable grant is worth… Read more…

On 2 September 2020, the government’s £2 billion Kickstart Scheme opened for employer applications. The scheme is part of the Plan for Jobs announced during Chancellor Rishi Sunak’s July Summer Economic Update. The Kickstart Scheme aims to create work placements for young people who are at risk of becoming unemployed for the long-term. Businesses can… Read more…

When moving into self-employment, many people take the route of working through a limited company, rather than becoming a sole-trader. One of the main reasons for this choice is liability. Sole traders are their own business, and therefore they are personally responsible for any outstanding debts. Limited companies are separate legal entities, and the business… Read more…

Taxpayers who have received CJRS or SEISS grants are urged to doublecheck their entitlement as the 90 day period to inform HMRC of any overclaimed amounts is now law. Finance Act 2020 includes legislation that the Coronavirus Job Retention Scheme (CJRS), Self-employment Income Support Scheme (SEISS), Coronavirus Statutory Sick Pay Rebate Scheme and coronavirus business… Read more…

Chancellor Rishi Sunak has asked the Office of Tax Simplification (OTS) to carry out a thorough review of capital gains tax (CGT). In a letter to the OTS, the Chancellor requested that the independent office review CGT and aspects of the taxation of chargeable gains in regard to individuals and small businesses. Mr Sunak requested… Read more…

On 27 July, the Welsh government reduced the rate of Land Transaction Tax (LTT) following the cuts made to SDLT and LTT across the rest of the UK. LTT is payable by the purchaser of residential or non-residential property occurring in Wales. From 27 July 2020, the starting threshold for residential LTT rose from £180,000… Read more…

On 15 July, the Scottish government reduced the rate of Land and Buildings Transaction Tax (LBTT) following a similar reduction to the rate of residential Stamp Duty Land Tax (SDLT) announced by Chancellor Rishi Sunak in the recent Summer Economic Update. LBTT is payable by the purchaser in a land transaction occurring in Scotland. SDLT… Read more…

On 1 August, the government’s Eat Out to Help Out scheme began operating at eateries across the country. The scheme was announced by Chancellor Rishi Sunak in his Summer Economic Update. It provides a 50% reduction of up to £10, for sit-down meals in participating cafes, restaurants and pubs across the UK from Monday to… Read more…

The government has published a call for evidence on the overhaul of the business rates system that applies in England. The government announced at the 2020 Budget in March that it would conduct a review of the business rates system in England. It is seeking views from businesses, business representative organisations, local authorities, rating agents,… Read more…