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Who Will Pay and How to get paid Information UK

As the fourth self-employment income support scheme (SEISS) ramps up for applications, HMRC has confirmed the penalty regime with harsh fines for abuse of the financial support. The VAT deferral new payment scheme is open for all businesses who deferred paying VAT due. HMRC has created new guidance for agency workers and contractors who work through an umbrella company. If you are self-employed or run a business and need assistance and advice on how the recent announcements could make a difference to you or your business, feel free to get in touch with the experts at Morgan Reach.

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Who Will Pay and How to get paid Information UK

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  1. HMRC, GOVERNMENT & TAX UPDATES INFORMATION UK Morgan Reach

  2. 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. https://morganreach.com

  3. 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. https://morganreach.com

  4. 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. https://morganreach.com

  5. 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. https://morganreach.com

  6. HMRC, Gov’t & 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. https://morganreach.com

  7. Contact Morgan Reach Phone 0121 236 0777 Email info@morganreach.com Website https://morganreach.com

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