A cancelled Budget normally merits headline treatment. This year is different.
We said goodbye to autumn Budget 2020 with hardly a backwards glance. The Chancellor has since delivered not just an unheralded ‘Winter Economy Plan’ on 24 September 2020, but an update to that Plan, on 22 October 2020. The most recent update came as further parts of the UK were put under more stringent public health restrictions.
The Winter Economy Plan brings change to the small print on the government’s temporary Covid-19 loan schemes.
The Winter Economy Plan unveiled the Job Support Scheme (JSS). This succeeds the current ‘furlough’ scheme (Coronavirus Job Retention Scheme), which ends on 31 October 2020. Read more
The most significant reforms of UK insolvency law for a decade? The Corporate Insolvency and Governance Act 2020 puts in place a series of measures amending insolvency and company law. Some are temporary, some permanent. Read more
The Winter Economy Plan gives longer to pay for liabilities due in January 2021. Read more
From 1 January 2021, the UK will operate a full external border with the EU. This entails major change for imports and exports to and from the EU. From 1 January 2021, declarations will be needed to import or export specific (limited) goods categorised as ‘controlled’. Read more
Many businesses turned chameleon during Covid-19, changing core business to adapt. But whether you’re a florist making face masks or a farm shop starting home deliveries, what about tax? Read more