Weekly tax brief | 16 June 2020

Capital allowances and coronavirus – cash back please, Chancellor
Paul Smith
Businesses need to adapt premises to reopen to ensure compliance, but this comes at a cost. Implementing a temporary enhanced capital allowance could provide a real cash boost when reserves are depleted.

Protect your VAT recovery on the cost of post-coronavirus mergers and acquisitions
Karen Glover
A rush of buyouts and corporate restructuring is expected once the business world gets back on its feet after coronavirus and prepares to face a changed marketplace. Businesses which find themselves involved in mergers and acquisitions should plan carefully to protect their entitlement to VAT recovery.

Should the rates of VAT be reduced to stimulate the coronavirus-impacted economy? Or is there another way?
Ian Brown
Reducing VAT rates is an option for Government, or could it be ringfenced and invested for longer term benefits for the businesses most affected?

Could your CJRS claim plunge you into a National Minimum Wage enquiry?
Susan Ball
With the Coronavirus Job Retention Scheme, HRMC will now have sight of payroll data and whistleblowing reports to support enquiries into National Minimum Wage compliance.

HMRC resumes VAT compliance checks after coronavirus shutdown
Sarah Halsted
After a break of several weeks while its officers were busy introducing emergency coronavirus measures, there are signs that HMRC’s routine VAT compliance activity has restarted. 


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