We’ve attached our latest edition of KUWT for Insurance. Needless to say, the last month has been extraordinary and I’m sure many of you, like us, have had to transition to new working environments and practices.
As I write this, we’ve all been working from home for the last two weeks and we’re doing our best to adapt to completing our roles remotely (we’re even getting used to home video calls!). I hope you’re all managing with this as well, and keeping yourselves and your families safe in this difficult time.
Obviously, Coronavirus (‘COVID-19’) has had a major impact on every area of business and the UK Government has launched a whole range of measures to help organisations deal with this (via the tax system and more widely). It won’t surprise you to learn that our main article this month covers many of the key announcements that have been of most interest to our clients, in particular:
In the meantime, HMRC have announced that certain other tax measures have been deferred. This notably includes delaying the deadlines on both IR35 and the digital links requirement in VAT Making Tax Digital to April 2021. These delays will be welcome to already stretched tax and finance departments, noting these deadlines will still appear on the horizon remarkably quickly in the current circumstances.
Outside of focusing on COVID-19 though, we have had a Budget since our last edition and there have also been a number of tax developments (in some cases, rather overshadowed by world events). We have included a number of articles on these which we hope you will find interesting, and these may perhaps provide some light relief in the current environment (quite a novelty for a tax article!)