HMRC have announced further measures to help business owners and the self-employed recover from the financial fallout of the coronavirus outbreak: this year’s self-assessment late payment penalties are to be scrapped.
HMRC have given business owners two repayment options for deferred VAT: pay in full or pay in installments. Find out more about your options here. Businesses will be charged penalties if you fail to either sign up for the new scheme, pay your VAT in full or agree with HMRC a plan to pay by 30 June 2021.
HMRC have updated their guidance on the Self-Employment Income Support Scheme (SEISS). Here, our founding director, Michael Chadwick, outlines the newly announced changes to the package of support for the self-employed and how we can help with your claim.