The Treasury has frozen the UK’s VAT thresholds for a further two years in a bid to start repairing public finances following COVID-19, the year-long business rates holiday in England has been
extended for another three months and new recovery loan scheme replaces previous Covid-19 loans.
Businesses that deferred paying VAT between 20 March 2020 and 30 June 2020 do not need to pay the full amounts by the end of this month and record number miss Self-Assessment filing deadline due to Covid-19.
Businesses offered new government grants of up to £9,000, the furlough scheme is extended until the end of April 2021 and retailers experienced their worst annual sales performance since records began.
HMRC issues last reminder for 2019/2020 personal tax returns, annual investment allowance remains at £1M until 2022 and national living wage set to increase alongside age threshold fall.
VAT registered traders urged to prepare for life post Brexit, the furlough scheme is extended and self employed fear tax returns may affect fourth SEISS claim.