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MTD for VAT
HMRC has updated Notice 700/22: Making tax digital for VAT to reflect the extension of the digital links deadline to 1 April 2021.
Self-employment support
HMRC has published new guidance on how it will calculate the total income and profits for self-employed people who have lost profits due to the coronavirus pandemic.
Business loans scheme
The coronavirus large business interruption loans scheme (CLBILS) has been expanded to cover all viable businesses. Businesses with a turnover of more than £45m will be able to apply for up to £25m of finance. Businesses with a turnover of more than £250m can borrow up to £50m.
VAT errors
HMRC has updated its VAT error correction guidance. Forms VAT652 should not be submitted by post. Instead taxpayers should email them to: inbox.btcnevaterrorcorrection@hmrc.gov.uk.
Tribunals
The Tribunal Procedure (Coronavirus) (Amendment) Rules SI 2020/416 make temporary changes to various tribunal rules including SI 2008/2698 and SI 2009/273 as part of emergency measures to mitigate the impact of Covid-19 on the tribunals service.
San Marino
San Marino has deposited its instrument of ratification for the multilateral convention to implement tax treaty related measures to prevent base erosion and profit shifting with the Organisation for Economic Co-operation and Development. It will enter into force on 1 July.
