Sirius News Bulletin - 8th October 2020
This bulletin provides a summary of topical news, announcements and policy developments affecting business across the UK.
Tax and IR35
Self-assessment customers to benefit from enhanced payment plans
HMRC has increased the threshold of the online payment plan service to £30,000 for self-assessment customers. The increase in the threshold is designed to help ease financial difficulties experienced due to the coronavirus pandemic.
HMRC updates creative freelancers’ IR35 manual, with a win on substitution
HMRC has updated IR35 guidance for arts, TV, media and many other creative sector freelancers. The guidance covers the right to send a substitute that HMRC has confirmed as ’non-determinative‘ to IR35 status.
Scrapping tax-free shopping for tourists will hit luxury sector
The Chancellor has announced that the tax-free shopping scheme for non-EU tourists will end on 31 December 2020. The decision will mean overseas visitors will no longer be able to claim back VAT on items purchased in the UK or buy duty-free items in airports.
ACS welcomes call for evidence on alcohol duty
HM Treasury and HMRC have launched a call for evidence on the alcohol duty system. The call for evidence is seeking views on a wide range of areas including whether duty categories should be changed and if more could be done to tackle duty avoidance.
Providing rental information for Revaluation 2023
The Valuation Office Agency (VOA) is contacting businesses to request rental information as part of Revaluation 2023. The VOA will use the information to set the rateable values of business premises in England and Wales.
Employment tribunal claims leap by a fifth during lockdown
Individual employment tribunal claims increased by 18% in April to June 2020, compared to the same period in 2019 according to figures published by the Ministry of Justice. The rise has been attributed to an increase in unemployment and changes to working conditions due to COVID-19.
Quarter of firms unaware of redundancy consultation legalities, research finds
More than a third of employers (37%) are likely to make staff redundant by the end of 2020, with many unaware of their legal responsibilities around consulting staff, according to Acas.
National Lottery Project Grants is open for applications
Arts Council England has reopened the National Lottery Project Grants fund to help fund independent organisations, creative practitioners and freelancers. The £77.9 million project is open for applications until April 2021.
People’s Postcode Lottery offers grants of up to £1m
Charities are being invited to apply for grants of up to £1 million for schemes that will help communities recover from the effects of the coronavirus pandemic.
Information sourced through Cobweb Information Ltd: http://cobwebinfo.com