HMRC Government and Tax Updates Information UK

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HMRC, GOVERNMENT TAX UPDATES INFORMATION UK

• Morgan Reach

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HMRC Sets Penalty for SEISS Abuse

• Self-employment income support scheme (SEISS)
  ramps up for applications, HMRC confirmed the
  penalty regime with harsh fines for abuse of the
  financial support.
• Penalties can be charged up to 100 on the amount
  of SEISS grant overpaid.
• As long as overpayments are settled by the end of
  January 2022, fines will not be enforced.
• When deciding the amount of any penalty, HMRC
  will take account whether the taxpayer knew they
  were entitled to the SEISS grant when they
  received it.

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Pay VAT Deferred Due to Coronavirus

• Find out how to pay VAT payments deferred between
  March 20 and June 30, 2020. You can pay now or
  join the VAT deferral new payment scheme.
• The new scheme lets you pay your deferred VAT in
  equal installments.
• Businesses that join by May 19, 2021 can pay in
  up to nine monthly installments.
• To use the online service you pay the first
  installment when you join.

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Agency Workers Contractors

• HMRC has created new guidance for agency workers
  and contractors who work through an umbrella
  company.
• MRC has created new guidance for workers and
  contractors who work through an umbrella company.
• The guidance covers pay and holiday entitlement.

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Flexibility Right-to-Work Checks Ends

• The government has confirmed that the temporary
  Covid-19 adjusted right to work check process
  will come to an end on May 16, 2021.
• The temporary adjustments to right to work checks
  due to Covid-19 are ending.
• You will soon need to check the applicants
  original documents or right to work online.

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HMRC, Govt Tax Updates

• VAT updated valuation table
• Set out the new scale charges (a VAT inclusive
  amount).
• Show the VAT to be charged if you account for VAT
  on an annual, quarterly or monthly basis.
• Must be operated in accordance with the notes to
  the table and these are set out below.
• HMRC A new tool allows you to check if you can
  delay customs payments and declarations.
• UK private sector set for summer rebound as
  economy reopens.

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Contact Morgan Reach

• Phone
• 0121 236 0777
• Email
• info_at_morganreach.com
• Website
• https//morganreach.com