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340,000 sign petition for change to coronavirus support for the self-employed

A petition calling on the Government to relax the criteria for self-employed people to access income support during the coronavirus crisis has received more than 300,000 signatures. Though at first given a cautious welcome, the coronavirus self-employment income support scheme (SEISS) announced by Chancellor Rishi Sunak on 26 March soon came under fire for allowing …

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‘Self-employed can claim support in mid-May’

HMRC intends to contact millions of people eligible for the self-employed income support scheme by the middle this month. Those workers who have lost profits due to COVID-19 will be invited to submit online claims for payments, which will be made by early June. The scheme provides taxable grants worth 80% of a self-employed worker’s …

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Tax group demands VAT simplification of food and drink rules

VAT rules for food and drink in the UK are “overly complex” and in need of reform, the Association of Taxation Technicians (ATT) has claimed. Chancellor Rishi Sunak used his Spring Budget to scrap the so-called ‘tampon tax’ when the Brexit transition period ends on 1 January 2021. The ATT hopes the decision to abolish …

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Inheritance tax planning in 2020/21

Inheritance tax planning in 2020/21 What to consider during the COVID-19 lockdown. Coronavirus has many people reflecting on their own mortality. So if you have more time on your hands during the lockdown, planning your estate may be a wise way to spend it. Benjamin Franklin observed there are only two certainties in life: death …

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Coronavirus support for businesses

Options to limit the financial damage of COVID-19. It’s hard to believe that Rishi Sunak has only been the Chancellor since Valentine’s Day, given what he’s had to deal with in a matter of weeks since. On the back of delivering a Spring Budget, Sunak has revealed an unprecedented multi-billion-pound stimulus package to support businesses …

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