Need to Know: Coronavirus Job Retention Scheme claims deadline, VAT deferred payments and Bounce Back loans

We bring you the latest news from Government, the legislation you need to know, and what’s going on in the wider GCMA world… This week: More on the independent golfer scheme, deadlines for Coronavirus Job Retention Scheme claims, Vat deferred payments and...Bounce back loan repayments CORONAVIRUS JOB RETENTION SCHEME JANUARY CLAIMS DEADLINE If you haven’t submitted your claims for January, you must do so by the deadline of Monday‌‌ ‌15 February. VAT Deferred Payments If you deferred VAT payments due between 20 March and 30 June 2020 and still have payments to make, you can: pay the deferred VAT in full, on or before 31 March 2021 join the VAT deferral new payment scheme – the online service is open between 23 February and 21 June 2021 contact HMRC on Telephone: 0800 024 1222 by 30 June if you need extra help to pay You may be charged interest or a penalty if you do not: pay the deferred VAT in full by 31 March 2021 opt into the new payment scheme by 21 June 2021 agree extra help to pay with HMRC by 30 June 2021 Full details are available here. BOUNCE BACK LOAN REPAYMENTS Businesses that took out government-backed Bounce Back Loans to get through Covid-19 will now have greater flexibility to repay their loans. See here for full details. INDEPENDENT GOLFER LATEST England Golf have issued a new update on the latest progress of the independent golfer proposals. The working group have agreed the aim of the scheme is to drive avid golfers towards golf club membership – “or at the very least increase their spend on green fees, food and beverage and merchandise at local clubs where they feel a connection and develop a bond”. They said analysis of similar platforms used around the world suggested there was no evidence that “significant numbers” of players would leave a golf club to join an independent golfer scheme. “The benefits of remaining at a club which offers not only full playing rights, but also a good value proposition to members should outweigh those provided to golfers through an independent golfer platform. “The working group continue to discuss the suitability of a time lag between a member leaving a golf club and joining an independent golfer scheme. “The options being debated range from immediate entry up to a time lag period of 12 months.” For more, click here.
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