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MTD digital links postponed

The Digital Links requirement for Making Tax Digital (MTD) has been postponed up to one year to 1 April 2021. A digital link is a piece of software that automatically transfers data into a software program. The requirement means that it is not acceptable to transfer data manually between software products. MTD is currently compulsory only for VAT for businesses with an annual turnover above ...
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Coronavirus and restrictions

The main regulations imposing restrictions during the coronavirus outbreak are The Health Protection (Coronavirus, Restrictions) (England) Regulations SI 2020 No 350. These regulations were introduced at 1pm on 26 March 2020 under the Public Health (Control of Disease) Act 1984. Para 3 defines an emergency period as starting with the commencement of the regulations on 26 March 2020. The rest...
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Coronavirus and statutory instruments

A raft of statutory instruments has been passed in March 2020 to give effect to provisions in relation to the coronavirus outbreak. These include: 304: Statutory Sick Pay (General) (Coronavirus Amendment) (No 2) Regulations 308: Health Protection (Coronavirus) (Wales) Regulations 324: Single Use Carrier Bag Charges (England) (Amendment) Order 327: Health Protection - now replaced ...
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Coronavirus and holiday entitlement

Workers may carry forward up to four weeks of holiday entitlement into the next two years. Under current law, someone working five days a week is entitled to 28 days leave each year, including public holidays. If it is not taken, 20 days can be lost without financial compensation. The other 8 days may be carried forward one year, but no further. An employer who prevents a worker taking holidays...
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Coronavirus and furlough scheme

The government has announced that its payroll support package, now often referred to as the furlough scheme, will pay 80% of an employer's costs for employer's national insurance and workplace pension contributions. It appears that it will not pay other employer costs such as occupational pension contributions or apprenticeship levy. The furlough scheme guarantees 80% of the wages bill will be ...
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Coronavirus and PSC directors

Directors of personal service companies (PSCs) can easily fall between the two stools of support announced by the Chancellor in the coronavirus outbreak. These are support for businesses and support for employees. A director of a PSC will often remunerate himself or herself by drawing a salary to the national insurance employment threshold and providing further reward in the form of dividends. ...
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Coronavirus and HMRC powers

Coronavirus Act 2020, which is now law, says in section 76: Her Majesty's Revenue and Customs are to have such functions as the Treasury may direct in relation to coronavirus or coronavirus disease. Fears have been expressed that this will allow HMRC complete freedom to do what it likes, with no checks and balances for taxpayers. Legal advice has been obtained to say that "functions" refers ...
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Coronavirus and FRC

On 30 March 2020, the Financial Reporting Council has produced guidance on matters relating to the coronavirus outbreak and production of financial statements. The guidance for companies includes provisions to: maintain effective controls during alternative working practices finding ways to maintain reliable and relevant information in the future pay attention to capital maintenance ...
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