Like the CJRS scheme for employers, the Self Employed Income Support Scheme (SEISS) has been extended to September 2021 and details of claims for the fifth grant have now been released. This fifth grant covers May to September 2021 and will open for applications in late July.
The fourth version of the CJRS “furlough” grant scheme starts on 1 May 2021 and will run until 30 September with employees affected continuing to be supported.
In the March Budget it was announced that the normal one year carry back for trading losses would be extended to three years. This means that many businesses that have made losses during the COVID-19 pandemic may be able to obtain a repayment of tax paid in that three-year period.
Both the CJRS “furlough scheme” and the Self-Employed Income Support Scheme have been extended until September 2021.
Value added tax may be one of the least glamorous types of tax, but there have been a few recent announcements that certainly make it a little more interesting.
Budget 2021 could bring changes to some key taxes, as the Chancellor aims to recoup funds lost during the pandemic.