Money Matters - May 2020 Accounting Newsletter
Posted on May 07, 2020

We are pleased to offer you a complimentary copy of our May 2020 newsletter.

With just one issue controlling everyone’s lives, it is no surprise that it also features heavily in our latest newsletter, with nearly half our stories about Covid-19 and its impact on our finances and working lives.

The articles in this issue are:

  • Budget 2020 – not just crisis measures The Budget on 11 March was rapidly overtaken by the progression of the Covid-19 crisis with many of its economic forecasts set aside and further announcements made subsequently.
  • National insurance diverges The Budget confirmed an over 10% increase in the Class 1 NI contributions threshold for employees but not as much for employers. 
  • Managing your business through Covid-19 Few businesses can have escaped the economic effects of Covid-19 and the ‘lockdown’ measures to control its spread.
  • Pension relief for higher earners The Chancellor announced a more generous taper regime for 2020/21.
  • HMRC compliance checks and self-assessment HMRC has increased the levels of its compliance checks, how can you stay out of HMRC’s searchlight?
  • VAT digital links on hold HMRC has announced a one-year delay to its enforcement of digital VAT rules through the making tax digital (MTD) for VAT return filing process.

We hope you enjoy reading the newsletter. Please get in touch if you need help or advice on any of the topics covered.

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