Business and Tax News - May 2020

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July 13th 2020
Tax Week 15
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BUSINESS AND TAX NEWS - MAY 2020

Self Employed Income Support Scheme Extended For Three Months

SELF EMPLOYED

Self Employed Income Support Scheme Extended For Three Months

June, July and August to be supported by SEISS but at a lower 70% of average turnover and capped at a lower £2,190 a month.
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Employee Furlough Job Retention Scheme Updated Details

PERSONAL TAX

Employee Furlough Job Retention Scheme Updated Details

Chancellor announces changes to furlough scheme for PAYE employees, with a reduction in government support from August and a new flexible furlough scheme from July.
Employees Allowed Tax-Free Reimbursement of Home Office Expenses

EXPENSES

Employees Allowed Tax-Free Reimbursement of Home Office Expenses

Temporary measure until April 2021 allows employers to refund employees for the costs of home office equipment fully without resulting in a benefit tax charge.
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