• Business rates temporarily removed from all eligible properties in the retail, hospitality, and leisure sectors • The Self-employment Income Support Scheme (SEISS), offering a taxable grant of 80% of trading profits up to a monthly cap of £2,500 • The deferral of Self-Assessment payments due in July 2020 until 31 January 2021 • Allowing companies who must hold AGMs to conduct them online, or to postpone them • The suspension of wrongful trading provisions for company directors to remove the threat of personal liability during the pandemic
A three-month extension for filing accounts to businesses impacted by coronavirus.
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Rules temporarily relaxed to help businesses through the coronavirus crisis 24 April 2020
The Department for Business, Energy and Industrial Strategy (BEIS) has published a list of the rules that have been temporarily relaxed to help businesses continue to operate, despite the disruption caused by COVID-19.
The list can be found here, and includes discussion of temporary changes to:
Annual leave – Workers who have not taken all of their statutory annual leave entitlement as a result of coronavirus will be able to carry up to four weeks of unused leave into the next two leave years.
Gender pay gap reporting suspended – The Government Equalities Office and the Equality and Human Rights Commission made the decision to suspend enforcement of the gender pay gap deadlines for 2019-20 as a result of coronavirus.
Off-payroll working rules (IR35) – The reforms to off-payroll working rules due to come into effect on 6 April 2020 have been delayed for 12 months until 6 April 2021.
Right-to-work checks – Temporary amendments to right-to-work checks will make it easier for employers to carry them out during the coronavirus outbreak.
Taxable expenses – HMRC has confirmed which equipment, services and supplies are taxable for employees who are working from home to stop the spread of COVID-19.
Further rules have been relaxed, and more information can be found here.
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Temporary pension rule relaxations for those returning to help fight the outbreak of COVID-19 27 April 2020 A letter sent from the Economic Secretary, John Glen, to the Minister of State for Crime and Policing, Kit Malthouse, discusses the temporary pensions tax changes for those returning to roles in the public sector, who have a protected pension age, as they support the government’s response to coronavirus. The letter confirms intentions to temporarily suspend tax rules that would ordinarily reduce pension income for individuals aged between 50 and 55, for those who have recently retired but are returning to take on roles in order to support the UK in its fight against COVID-19. Without the changes, the pension income of affected individuals could be reduced so much that their net of earnings, plus pension income, would not exceed their earnings prior to retirement. Additionally, they may see negative tax effects on their pension benefits. As a result of the temporary amendments, individuals such as police officers who return to work will not be financially penalised.
The Chartered Institute of Payroll Professionals
Payroll: need to know
cipp.org.uk
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