COVID-19: The key dates for your tax diary

There are a number of Government support measures to help businesses through the coronavirus pandemic, as well as various business tax obligations being deferred. However, it can be difficult to keep track of all of the dates, deadlines and requirements, with many being amended, delayed or deferred over the past few months.

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Trade Credit Insurance backed by £10 billion guarantee

The Government will provide up to £10 billion of guarantees to Trade Credit Insurance schemes for business-to-business transactions. The spending commitment, known as the Trade Credit Reinsurance scheme, has been agreed following extensive discussions with the insurance sector. The new scheme will be available temporarily for nine months and backdated to 1 April 2020 for…

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VAT deferral refund available

Taxpayers that wished to defer VAT payments, but did not cancel their Direct Debits in time can claim a refund, according to HM Revenue & Customs (HMRC). The tax authority has confirmed that taxpayers that intended to defer VAT payments due between 20 March 2020 and 30 June 2020 that were unable to cancel their…

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