The government has today announced that the £100 penalty for the late filing of the 19/20 self assessment tax return (due 31 January) will not be charged provided the return is filed online by 28 February.

As we enter the new year we thought it would useful to provide a brief update on upcoming changes to VAT and the reporting thereon:

Following the Prime Minister’s announcement of a new period of lockdown last night, we want to reiterate that we are here to help as much as we possibly can – please do contact us if you have any questions or concerns and we'll do all we can to support you through what will for many undoubtedly be a testing few weeks and months.

At 11pm on 31 December 2020 the UK will leave the EU and become a separate customs territory - as such a number of new rules and policies relating to import/export VAT and duty are due to come into effect from that point.

As noted in recent updates, the government have announced grants available for businesses required to close by law as a result of the second period of lockdown.

Further to the various updates and announcements over recent days as a result of the new period of lockdown, the Chancellor has today announced further amendments to the Job Retention and Self Employed Income Support Schemes.

Following a busy few days of new and updated support measures as a result of the second period of lockdown largely relating to income support, there are a couple of other matters we felt might be useful to be aware of as follows:

Following the Prime Minister’s announcement that England will enter a second period of lockdown (currently until 2 December), the government have announced amendments and expansions to the recent financial support packages in response.