Businesses that wish to avail themselves of this should contact the Duty Deferment Office on 03000 594243, or by emailing [email protected] or using the COVID-19 helpline on 0800 024 1222. This could include enabling improved accessibility to buildings/activities, including making buildings COVID-19 safe for access – as long this is to enable new and/or enhanced support to be offered. HMRC guidance confirmed that the deferral is automatic and covered all UK VAT registered businesses (presumably including taxable persons that are not established in the UK), but not businesses who pay UK VAT via MOSS (Mini One Stop Shop). This means an investor, or lead investor of a group of investors, applies in connection with an eligible company. 80% of three months’ average trading profits, capped at £7,500, for those with a turnover reduction of 30% or more. The scale of the fund will be kept under review. On 26 March 2020, the Chancellor announced initial details of a Self-Employed Income Support Scheme (SEISS). The loans will automatically convert into equity, at a minimum conversion discount of 20%, on the company’s next qualifying funding round, or at the end of the loan if they are not repaid. United Way—Committing to supporting individuals and communities worldwide who are impacted by the COVID-19 outbreak through hardship assistance International Women’s Media Foundation —Accepting applications for grants up to $2,000 for women who identify journalists facing significant financial hardship, lost work, were recently laid off or who urgently need assistance due to the effect of COVID … Subscribe to receive the latest BDO News and Insights. Of course, all jurisdictions will still expect all relevant tax returns and filings to be made and, as yet, deadlines have not been moved. For example, Jersey has announced that it is relaxing its economic substance and residence rules during the crisis. For the second national lockdown is was announced that the scheme would be extended beyond November 2020. Where a taxpayer makes a mistake on a claim or makes a fraudulent claim, the overpayment identified will be clawed back by HMRC – read more. Read about further VAT issues to consider. The deferral is automatic and does not need to be applied for, but any organisations that choose to pay their VAT liability as normal are able to do so in the normal way. Change brings challenges but also opportunity. This will help those struggling with cash flow and allow those who enter into arrangements to spread liabilities owed over a pre-agreed period. Under the new rules, anyone who is in financial difficulties due to COVID-19 and has already taken the original maximum six month payment holiday can apply to their lender for a further three month holiday (this applies whether the six month holiday is still running or the borrower has resumed payments). The grants usually depend on an individual's circumstances, maybe any illnesses they have or their nationality, occupation, age or income. We will help you navigate the ups and downs so you can deliver primary care services keeping... Insightful and expert accountancy and business advice delivered by experienced operators who understand the sector. Innovate UK Smart Grants help deliver ambitious R&D innovations with significant potential for impact on the UK economy. 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