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The Government is being urged to extend the Self-Employment Income Support Scheme for as long as the self-employed need it.
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The Government has pushed through the Finance Bill, meaning an amendment to delay the implementation of the controversial IR35 private sector rules has fallen.
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The Low Incomes Tax Reform Group (LITRG) is warning owners of newly formed limited companies that it is unlikely they are eligible for the Self Employed Income Support Scheme (SEISS) grant – even if HMRC contact them and the eligibility checker says they may qualify. This comes as HMRC contact people inviting them to check their eligibility and claim for the SEISS grant.
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The Government has received praise from the self-employed sector for the 'impressive logistical achievement' of launching the Self-Employment Income Support Scheme early.
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The majority of contractors who had been assessed as inside IR35 by their private sector client plan to revert back to working outside the scope of the legislation, as a result of the recent delay to IR35 reform.
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Businesses that wish to defer VAT return payments must ensure that they cancel their direct debit in good time for VAT returns that are due on Thursday, May 7, 2020.
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Limited company contractors and the newly self-employed urgently need more support during the Coronavirus crisis.
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Small Business Minister Paul Scully is considering ways of supporting limited company contractors that he can propose to the Chancellor.
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The Chartered Institute of Taxation (CIOT) is urging employers to consider supporting employees working from home because of the Coronavirus outbreak with a tax-free payment equivalent to over £300 per year to help with the costs of higher household bills.
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Contractors engaged by Government departments, their Executive Agencies and Non Departmental Public Bodies, which includes the NHS, will receive financial support should they not be able to work due to COVID-19.
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