Covid-19

Much of the help available to those affected financially by the coronavirus (Covid-19) pandemic is being wound down, with the Coronavirus Job Retention Scheme (CJRS) (or furlough), the Self-Employment Income Support Scheme (SEISS), the 5% VAT rate on hospitality, accommodation and attractions and the temporary increase in the SDLT nil rate band on residential property all having ended on 30 September.

There are still some measures in place to help those affected though, such as the 12.5% VAT rate on hospitality, accommodation and attractions until 31 March 2022 and the increased use of time to pay (TTP) arrangements.

One of the areas that is becoming more important is how taxpayers should report grants and payments received and how to disclose any overclaims. The UK Government has produced guidance on what to do if a person has overclaimed under the CJRS, or if they do not need the grant and want to voluntarily repay it and how to report grants and support payments.. 

The Accountancy Daily Coronavirus News Hub includes breaking news stories and analysis, plus subscriber-only premium content and Q&As on dealing with COVID-19. It includes advice from experts at Accountancy Daily, Croner-i, Croner Taxwise and BrightHR.

The UK Government has a Business Support section providing details of support available for businesses and the self-employed and how to keep businesses and employees safe.

The Welsh Government has a section for Business and employers and another for Work, skills and financial support.

The Scottish Government's main Coronavirus page has links to sections for 'Businesses and workplaces'.

The Northern Ireland Assembly has a section for Financial help and practical support.

The various institutes have dedicated coronavirus web pages, such as the CIOT, the ATT, STEP and the ICAEW

Meg Wilson CTA is a tax writer at Croner-i.

Secondary Legislation