CJRS: reporting requirements & HMRC penaltiesFrom the 1st July, there are a number of changes that will apply to the Coronavirus Job Retention Scheme (CJRS). The level of grant will now be tapered down over the next four months, with the CJRS coming to an end on 31st October 2020. There are specific reporting obligations that require records to be kept for at least 6 years. Should there be an overpayment, HMRC are able to impose penalties of 30% to 100%. Read more GB-EU border controls 2021On the 12th June, the government announced its approach to border controls on GB-EU trade in 2021 and it formally notified the EU that it will not accept or seek an extension to the Transition Period. Due to the impact of the COVID-19 pandemic, the border controls will be introduced in three key stages (January 2021, April 2021 and July 2021) to give businesses more time to prepare. Read more Relief for gains made on private residencesPlease remember, there have been a number of changes made to the Private Residence Relief effective April 2020. When the property has been let for a period of time the "Final Period of Ownership Exemption" which can be used to reduce the Capital Gains Tax due has been decreased from 18 months to nine months. Read more For further
information If you would like to discuss your personal circumstances, Private Residence Relief and Capital Gains Tax, please do get in touch with our Tax Team. Pizza the actionBoris Johnson and Rishi Sunak got an early preview of Pizza Pilgrim's new mobile Order & Pay solution, developed by DRG client, Wi5, when they paid a visit to review the kinds of innovations that will help kickstart the hospitality industry when venues up and down the country reopen on the 4th July. Wi5's mobile ordering solution allows customers to order and pay for food and drink straight from their tables without the need for physical menus, cash or visiting a till, making it easy for customers to stick to social distancing and hygiene guidelines. And without any need for an app or to register, it's a really quick and easy solution for both operators and customers. Wi5 Order & Pay is now working with hundreds of hospitality businesses across the country. For further information |