After what has been a relatively quiet couple of months in terms of Covid 19 announcements from a finance perspective,  following the tightening of social guidelines in response to a recent uplift in cases the Chancellor has today outlined a further raft of measures as part of his ‘Winter Economy Plan’.

Just a quick reminder that as of yesterday (1 September) the amount available to claim from the government under the Job Retention Scheme (i.e. the ‘furlough’ scheme) reduces to 70%.

As we experience the (hopeful) continuation of relaxation of COVID 19 measures, we thought it would be helpful to provide an update on the current status of some of the key financial measures and points to consider as many begin to reach their conclusion.

The government have confirmed 17 August 2020 as the date from which claims can be made under the second (and the intended final) round of the Self Employment Income Support Scheme (SEISS).

As part of their strategy to modernise the way tax is reported, HMRC have this week unveiled their plans for the next phases of Making Tax Digital (MTD).

From today (15 July) the VAT rate applicable to certain supplies within the hospitality industry reduces from 20% to 5%.

Registration is now open for eligible businesses in the hospitality sector to join the ‘Eat Out to Help Out’ scheme.

This afternoon (8 July) saw the Chancellor deliver his Summer Statement which, as anticipated, included a number of measures designed to both supplement existing Coronavirus support mechanisms and bolster the economy as we seek to emerge from the previous few months.