HMRC has published specific detailed guidance on how it will calculate your profits to assess your entitlement to the Income Support Scheme Grant.
HMRC has released temporary changes to customs policy and authorisations to assist businesses during the coronavirus outbreak.
The Chancellor has set out plans that will see the self-employed receive up to £2,500 per month in grants for at least 3 months.
If you are self-employed, Income Tax payments due in July 2020 under the Self-Assessment system will be deferred to January 2021.
If your supply chain has been affected by coronavirus (COVID-19), DIT can help you to find alternative suppliers. The department has relationships with a global network of businesses across the world and will be able to advise you on the options available.
Taxpayers will be given until the end of the 2020-21 tax year to pay any liabilities that have accumulated during the deferral period. VAT refunds and reclaims will be paid by the government as normal.
The Prime Minister directed all food-service and entertainment venues to close and introduced further measures to support employers and individuals during the restrictions of movement.
Many business interruption insurance policies however will not cover disruption caused by pandemic interruption or crisis so the business should check the terms of their policies.