What you need to know about applying for the fifth SEISS grant.

The fifth Self-Employment Income Support Scheme (SEISS) grant can be claimed by individual taxpayers who are either self-employed or who are a member of a partnership.

Claims must be made by the taxpayer and not by an agent on their behalf; although they can seek assistance from an agent in completing their claim.

Have you paid your COVID19 deferred VAT?

One of the COVID19 relief schemes in 2020 was the 'VAT Payments Deferral Scheme'. This automatically deferred any VAT liabilities from VAT quarters falling due between 20 March 2020 and 30 June 2020. Any amounts due between these dates were given a deferral until 31 March 2021.

If you haven’t yet paid these outstanding liabilities, don't worry – all is not lost!

With these three options, you may still be able to avoid the 5% penalty or interest.

Covid support for you and your clients

To support you in helping your clients, here are the latest updates from HMRC on the Self-Employment Income Support Scheme (SEISS).

Prime Minister’s Statement 31 October 2020 – The latest COVID-19 information!

The latest government announcement regarding a new national lockdown from Thursday 5 November until at least 2 December mean more changes to the available support schemes.

Latest COVID-19 Measures – Job Support Scheme Extension and more!

The Chancellor Rishi Sunak announced the Winter Economy Plan on the 24th September. However, giving the ever-changing circumstances facing the country, the support offered to businesses is already being expanded.

About the COVID-19 VAT deferral ‘New Payment Scheme’

On 24 September 2020, the Chancellor Rishi Sunak announced the ‘Winter Economy Plan’ – a series of measures to continue assisting businesses and employees amid the current pressures caused by COVID-19.
Among those measures was an update to the VAT Payments Deferral Scheme. This allowed businesses to defer payment of any VAT liabilities that fell due between 20 March 2020 to the 30 June 2020 until 31 March 2021. The scheme ended on 30 June 2020.

The Winter Economy Plan. Explained. What does it mean to you and your clients?

Chancellor Rishi Sunak has outlined a series of measures to support jobs and the economy over the next six months. Here we provide an overview of the five new initiatives with a brief explanation. Please pass it on to your clients as you see fit.

How TaxCalc is giving back during the coronavirus pandemic

Under the banner of ‘From TaxCalc with Love’, we're spearheading a campaign to not only support the company’s employees, but also the country’s healthcare workers who have come under greater pressure than ever. A combination of measures to assist team members and customers, a revamp of daily operations and a flood of donations to NHS staff have formed part of an effort to give back during the COVID-19 pandemic.