This afternoon (8 July) saw the Chancellor deliver his Summer Statement which, as anticipated, included a number of measures designed to both supplement existing Coronavirus support mechanisms and bolster the economy as we seek to emerge from the previous few months.
The government have announced that the deadline for the first round of Self Employment Income Support Scheme (SEISS) claims is 13 July 2020.
From 1 July the first of a number of proposed changes to the Job Retention Scheme commences, being the introduction of ‘flexible furlough’.
Following the announcement in the early phases of the Coronavirus business support response that VAT payments due between 20 March 2020 and 30 June 2020 could be deferred, the government has confirmed this measure is to cease with no further extension.
With changes to the Job Retention Scheme due to be introduced from 1 July and monthly thereafter, the following summary sets these out in a way which we hope is clear and useful.
Following a review of the impact of Coronavirus on the construction industry, HMRC have announced that the planned introduction of the domestic reverse charge is to be delayed from 1 October 2020 to 1 March 2021.
Following his announcement in mid-May of upcoming changes to the Job Retention and Self Employment Income Support (SEISS) Schemes, the Chancellor has now provided enhanced guidance on the amendments and their timeframes.
The government has today announced further details on the Local Authority Discretionary Grants we reported on a few weeks ago.