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MOT expiry dates and vehicle tax

The Driver and Vehicle Licensing Agency (DVLA) has confirmed that MOT expiry dates will be extended by 6 months for all MOTs due on or after 30 March 2020. This includes vehicles that are due their first MOT test and applies to cars, motorcycles,

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Tax overpaid on savings

The R40 form Claim for repayment of tax deducted from savings and investments is available on the GOV.UK website. Individuals who have paid too much tax on interest can use the R40 form to claim back any overpaid tax. The form and associated guidance

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Let property disclosure campaign

The Let Property Campaign provides landlords who have undeclared income from residential property lettings in the UK or abroad with an opportunity to regularise their affairs by disclosing any outstanding liabilities whether due to misunderstanding

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New bereavement allowance for parents

New workplace rights to paid leave for bereaved parents came into effect on 6 April 2020. The new law has been welcomed by charities helping bereaved parents to cope with losing a child. The new allowance gives employed parents the right to claim

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Prepare accounts quickly

As most self-employed readers will be aware, Self-Assessment tax and NIC payments on account are based on profits earned in the previous tax year and balancing payments due are not payable until the 31 January following the tax year end date. From a

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What is solvency?

During periods when demand for your goods and services drop – for example, if your business has been closed down or adversely affected by the recent COVID-19 outbreak – your sales and incoming cash receipts tend to drop at a faster rate

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CJRS – how to treat employees

The Coronavirus Job Retention Scheme (CJRS) allows UK employers to access government support to help retain staff that they would otherwise may have considered laying-off, reducing pay / hours or making redundant. If your employee is furloughed, they

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National Minimum Wage and training time

An interesting quirk of the Coronavirus Job Retention Scheme is that furloughed workers are not entitled to the minimum wage. HMRC's guidance categorically states that 'individuals are only entitled to the National Living Wage (NLW)/National

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Coronavirus Statutory Sick Pay Rebate Scheme

Small-and medium-sized businesses and employers can reclaim Statutory Sick Pay (SSP) paid for sickness absence due to COVID-19. You are eligible for the scheme if your business is UK based, small or medium-sized and employs fewer than 250 employees

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