#Government risks £26bn losses from bounce back #loanscheme

#Business defaults and fraud could result in potential losses of £15bn to £26bn for the government’s #COVID19 Bounce Back Loan scheme, the National Audit Office (NAO) is warning Read more: https://bit.ly/3luFRAo
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R35 delay leads to blanket ban U-turn

The delay to the private sector #IR35 roll-out has encouraged more #employers to ‘get it right this time around’, with staffing companies reporting that over a third of hirers (35%) were making a U-turn on non-PSC decisions Read more: https://bit.ly/2FEwqhV  #employmenttax #tax #taxcompliance #taxplanning #business
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Treasury Committee discusses #tax reforms post #Covid

MPs have been told that possible tax reforms post Covid, coupled with increased #digitalisation could save accountants from spending their lives ‘doing pointless repetitive tasks’ such as calculating #tax returns Read more:https://bit.ly/3kBafb
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VAT-registered businesses urged to prepare for Brexit trading changes

HMRC has written to all #VAT-registered businesses in Great Britain trading with the #EU and/or the rest of the world, highlighting what they need to do to prepare for the #UK’s exit from the EU at the end of this year. Read more:https://bit.ly/3mB89ut  #brexit#internationaltrade
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Call to extend Covid-19 insolvency protection

The government should extend emergency #Covid19#insolvency measures or risk seeing a raft of company collapses and job losses later this year, the Institute of Directors (#IoD) has warned Read more: https://bit.ly/3htL5Kf #business#practice#coronavirus
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How EMIs can help boost staff pay

How #EMIs can help boost #staffpay Enterprise Management #Incentive schemes can be a real bonus when a business is struggling through difficult times. BLM’s Matthew Poli shows how such schemes can be an attractive alternative to retaining talent Read more here:https://bit.ly/2RKAss
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No return to pre-Covid #economy before 2023

The #UKeconomy is set to contract by 10.3% this year and is unlikely to reach its pre-Covid level until early 2023, according to KPMG’s forecasts on the impact of the #pandemic Read more here:https://bit.ly/3bDHR5C 
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Covid-19: a third of SMEs carried on without government support

On average 29% of #SMEs have kept calm and carried on with no action needed, according to survey from@PG_Insurance Services showing how SMEs are coping well with the #pandemic Read more here: https://bit.ly/3aAkDw
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HMRC imposed some of its hardest penalties on taxpayers for committing ‘deliberate’ errors in their tax returns.

These fines can range between 20%-100% of the amount of tax due, for those who have given inaccurate information on their tax returns. #tax #businesstax #taxcompliance #taxplanning #consultations #insight #business #coronavirus
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HMRC remind working parents of tax-free childcare availability

As schools return in #Scotland, @HMRCgovuk are reminding working parents they could save up to £2,000 per child per year to pay towards after-school clubs and other #childcare services. For further details, see the news story: https://bit.ly/3kV8t6f
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