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PAC asks HMRC to explain support shortfall


The Public Accounts Committee has called on ministers to explain why so many people have been “left without a penny” of coronavirus financial support, with MPs giving HMRC six weeks to explain why many freelancers and other excluded groups have not been given greater help. A report from the cros...

Chancellor considers extending support


Rishi Sunak is reportedly considering a further extension of the furlough scheme in a bid to support the jobs market amid the blow dealt by the pandemic. The CBI has called for the initiative to be extended until the end of June and followed up with targeted support, while the TUC has said it should...

Tax penalties double in six months


The value of penalties imposed by HMRC has doubled each month in the last six months. Figures show that £41m was collected from penalties in November 2020, a 97% jump from the £21m collected in May....

HMRC eases debt-collection tactics


HMRC has stopped using debt collectors and threatening repossessions during the pandemic, reports the Times, with officials also suspending the use of “field force collectors” until the end of the lockdown. HMRC has confirmed its policy had changed, saying: “We are currently not contacting cus...

HMRC urged to consider deadline shift


It has suggested HMRC should push back the deadline for self-assessment tax returns, warning that as the Revenue “groans under the weight of applications from workers for coronavirus support”, it is set for further pressure, with 5.4m taxpayers yet to file and the January 31 deadline fast approa...

Treasury, FCA and HMRC spend £3m coronavirus-proofing offices


A Freedom of Information request shows that around £3.1m has been spent making Treasury, Financial Conduct Authority (FCA) and HMRC offices COVID-19 secure for staff. HMRC has spent £2.9m on coronavirus safety measures since March, while the FCA spent £211,218 between March and October and the Tr...

HMRC urged to extend tax return deadline


With the January 31 deadline for self-assessment tax returns on the horizon, HMRC has been urged to extend the cut-off due to concern that coronavirus-related pressures will see a spike in late filing. Kevin Sefton, CEO of tax app untied, said that while a million people miss the January tax deadlin...

Treasury yet to finalise pandemic excuse form as deadline nears


While HMRC has said it will show leniency to those who cannot submit self-assessment forms by the January 31 deadline due to coronavirus-related issues, the Treasury has yet to detail how people can get a penalty-free extension. Jesse Norman, financial secretary to the treasury, says details have ye...

Loan woe for the self-employed


Some banks are refusing to provide mortgages to self-employed workers if they took coronavirus support loans or income grants, despite the Government and the banking watchdog saying the payments would not affect credit ratings. Robert Sinclair, chief executive of the Association of Mortgage Intermed...

Court rules on business interruption payouts


The Supreme Court has ruled that insurers must pay out on disputed coronavirus business interruption claims, meaning small firms could share around £1.2bn in payouts. This comes as a result of a test case brought by the Financial Conduct Authority (FCA), with the ruling potentially affecting up to...

25k delay tax bills, while 1-in-4 freelancers plan to spread payments


HMRC data show that almost 25,000 people have opted to spread their tax bill over 12 months rather than paying it by the January 31 deadline, with the delays covering around £69.1m. Meanwhile, analysis from Which? shows that a quarter of self-employed workers plan to delay paying. HMRC has said it...

HMRC urged to waive late-filing penalties


With the self-assessment tax deadline fast approaching, HMRC has been urged to waive penalties as filers struggle amid the coronavirus crisis. The ICAEW has requested the Government reconsider its stance on late-filing penalties due to the impact of the pandemic, with chief executive Michael Izza wr...



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