Making Tax Digital (MTD) forms a key part of the governments’ plans to make it easier for individuals and businesses to get their tax right and keep on top of their business affairs. This shouldn’t be a new term for us now; changes to payroll under the Real Time Information system was introduced in 2013, and MTD for VAT has been in operation since 2019.

The ongoing support from HMRC in relation to employees of businesses and companies has been further extended; the fourth version of the CJRS “furlough” grant scheme started on 1 May 2021 and will run until 30 September with employees affected continuing to be supported and entitled to be paid at least 80% of their “usual pay” subject to a limit of £2,500 a month for hours not worked.

The Self-Employed Income Support Scheme (SEISS) like the CJRS scheme for employers has been extended to September 2021 and the details for claims for this fourth grant have now been released.  This fourth grant covers the period of February, March and April 2021.  A fifth grant will be announced to cover May to September 2021.