Furlough: When will the job retention scheme end? May 12, 2020 Chancellor Rishi Sunak’s job retention scheme has won wide plaudits for helping workers stay employed via furlough during the coronavirus crisis. Furlough has been one of the fundamental pillars in the chancellor’s economic response to the crisis and it has effectively amounted to temporary state socialism. The historic policy has seen the government – a [...]
Universal credit claims hit 1.8m during coronavirus crisis May 4, 2020 The British government received 1.8m Universal Credit benefits claims between 16 March and the end of April, work and pensions minister Therese Coffey said today. Universal Credit is paid to people in work as well as those who have lost their jobs. Coffey said the volume of claims was six times the normal rate and [...]
More than 70 per cent of firms have furloughed staff, BCC says April 22, 2020 More than 70 per cent of businesses have furloughed staff under the government’s coronavirus job protection scheme, according to a survey published today by the British Chambers of Commerce. According to the survey 71 per cent of staff have furloughed staff, up from 66 per cent a week earlier. The job retention portal went live [...]
Jewish Chronicle plunged into bitter row as bidders circle April 17, 2020 The Jewish Chronicle has been plunged into a bitter row as rival factions line up bids to take control of the newspaper ahead of a crunch meeting next week. Earlier this month the London weekly announced it was seeking a creditors’ voluntary liquidation alongside the Jewish News, with which it had previously agreed to merge. [...]
HMRC offers COVID-19 extension for import VAT and duty payments due on 15 April April 10, 2020 The payment of VAT and duties can be a significant cash flow burden on businesses and HMRC has recognised this in the number of easements introduced in response to the COVID-19 crisis. The Chancellor announced on 20 March that VAT payments due from 20 March to 30 June could be deferred until 31 March 2021. [...]
UK’s wage subsidy scheme on track for April roll out April 8, 2020 The government’s wage subsidy scheme is on track to be open on schedule as the nation’s top taxman warns it could be targeted by fraudsters. The Job Retention Scheme sees the government pay 80 per cent of wages, up to £2,500 a month, for employees that have been unable to work during the Covid-19 crisis [...]
EU vs Swiss Policies Compared April 7, 2020 In a major move last year, The European Parliament and the European Council took new strides towards EU anti-money laundering (AML) and combating the financing of terrorism (CFT) regulations with the Fifth AML Directive. The Fifth AML Directive popularly known as MLD5 which entered into force on 9 July 2018 expanded the scope to cover [...]
Second wave of nudge letters seeking offshore funds lands from HMRC April 2, 2020 In last month’s Budget, chancellor Rishi Sunak declared that the Treasury would raise an additional £4.7bn over five years by further combating tax evasion and avoidance. Thousands of letters were sent at the end of February by HMRC, asking individuals suspected of not disclosing offshore assets to review their affairs. This is sent along with [...]
Criminals are using COVID-19 to scam the public – don’t become a victim April 1, 2020 Law enforcement, government and private sectors partners are working together to encourage members of the public to be more vigilant against fraud, particularly about sharing their financial and personal information, as criminals seek to capitalise on the Covid-19 pandemic. Criminals are experts at impersonating people, organisations and the police. They spend hours researching you for [...]
UK firms say they are still under threat despite coronavirus support March 31, 2020 More than two thirds of UK managers say the coronavirus outbreak poses a high or severe threat to their companies, despite the government’s unprecedented economic package, a survey showed today. The Institute of Directors (IoD) business group, which produced the survey, said more must be done to support firms. It said the government should extend [...]