More fiscal and creative policy needed to address coronavirus crisis
Simon Hart and George Bull
As RSM’s UK Financial Conditions Index dips towards 2008/09 levels. Joe Brusuelas, RSM’s chief economist, shares his insights.
Will company directors be thrown a lifeline?
Whilst the Chancellor Rishi Sunak has announced unprecedented financial support for employees and the self-employed, there remains a noticeable gap in the coronavirus support measures. Entrepreneurs, contractors and freelancers who have decided to operate their business as a company rather than individually are feeling the economic hardship of the current crisis as keenly as others but fall between the cracks of the current policies. Is it a deliberate omission or the product of problem solving in an overly complex tax system?
Government measures to support people and businesses may have a tax sting in the tail
The Government has announced a number of temporary measures to help people and businesses through the period of disruption caused by coronavirus. But how are these incentives treated for tax purposes and will any have a sting in their tail?
Making Tax Digital for VAT – coronavirus forces ‘digital links’ delay
Sarah Halsted and Tom Gilbert
HMRC is to extend the soft-landing period granted under Making Tax Digital for VAT, giving businesses until April 2021 to ensure a clear digital audit trail is in place throughout their VAT return process.
Coronavirus deals a blow to the shadow economy
The UK shadow economy might be worth anything up to £150 billion. Traders who have chosen to live and work outside the tax system discover that their erstwhile 'tax freedom' comes with the penalty of no Government support now.