Business and Tax News - By Jane Wall

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July 14th 2020
Tax Week 15
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NEWS By Jane Wall - Contact: jane.wall@geekycoders.com

Up to 80 Percent Bounce Back Loan Defaults Expected

BUSINESS TAX

Up to 80 Percent Bounce Back Loan Defaults Expected

Banks expecting high default rate are drawing up collection plans.
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OBR Forecast Shows Costs of Job Retention and Self Employed Support Schemes

UK BUDGET

OBR Forecast Shows Costs of Job Retention and Self Employed Support Schemes

The updated forecast was published today to show the cost to the Treasury of the direct economic parts of the pandemic response, including income support schemes, JRS and SEISS.
Tax Credits Have Less Than One Percent Investigation Rate

PERSONAL TAX

Tax Credits Have Less Than One Percent Investigation Rate

Statistics for tax credits show under one percent of awards are investigated for mistakes and fraud.
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