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UK: Update from HMRC on “new normal” (COVID-19)

UK: Update from HMRC on “new normal” (COVID-19)

HM Revenue & Customs (HMRC) published a briefing paper (27 August 2020) setting out the continuing support being provided to the UK economy during the ongoing coronavirus (COVID-19) pandemic.

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The briefing paper is consistent with previous communications from HMRC and does not contain any real surprises; however, the briefing paper provides clarity on HMRC’s approach and indicates the beginning of a shift in focus—away from the initial scramble to provide urgent support toward resuming debt collection and compliance activity. Taxpayers may be re-assured by the briefing paper, as it emphasises that HMRC remains sympathetic to taxpayers facing difficulties and encourages taxpayers to engage with them.

Key takeaways from the briefing paper include the following:

  • Job retention scheme and self-employed income support scheme (read more in a KPMG report)
  • Temporary administrative arrangements
  • Return filing and tax collection
  • Compliance checks
  • Debt collection

Read a September 2020 report prepared by the KPMG member firm in the UK

Other related items from HMRC include:

  • HMRC guidance is expected to be updated for calculating job retention scheme claims for the period in which an employee returns to full time work. Read a September 2020 report
  • HMRC published guidance on research and development (R&D) staffing costs for furloughed employees. Read a September 2020 report
  • HMRC wrote to employers notifying that may need to correct their job retention scheme claims. Read a September 2020 report

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