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MMC Accounting News

By | June 26, 2020

Error in tax credit renewal packs

HMRC is writing to one million tax credit claimants whose renewal packs omitted some information, as ICAEW urges self-employed claimants to check whether they need to contact HMRC by 31 July HMRC has confirmed that around one million tax...

By | June 26, 2020

VAT: Construction industry reverse charge delayed again to March 2021

The domestic reverse charge anti-fraud measure for the construction industry has been delayed once again by five months to 1 March 2021 Monthly VAT returns: If all or most of your income will be subject to the reverse charge,...

By | June 26, 2020

Second SEISS grant

The self-employed scheme will open for applications in August, but with the grant reduced to 70% of their average monthly trading profits. As with the SEISS scheme, the money will be paid in a single instalment covering three months’ average...

By | June 26, 2020

Furlough scheme to be tapered off

The Chancellor has announced plans to end the eight-month coronavirus job retention scheme (CJRS) and self-employed income support scheme (SEISS), with taxpayers’ contributions gradually withdrawn from August The furlough scheme will continue in its current guise, paying 80% of employees’ wages up to £2,500...

By | June 26, 2020

Domestic care workers should record mileage

Domiciliary care workers (those that travel around looking after people in their own homes) are one of the few categories of workers that can legitimately claim their home to work travel costs as tax-deductible

By | December 24, 2019

Be meticulous with furlough scheme paperwork, limited company bosses warned

Limited company contractors must be “meticulous” with their furlough paperwork, following a snap HMRC consultation on CJRS clawback measures due to bite from next month. Directors should take the forensic approach to both the amounts claimed via the scheme, and...