This has and will continue to be one of the most extraordinary events to impact on our business and personal lives, things will never be the same again. So much focus has been on handling the situation day by day that it seems as if the days and weeks have run into one – before we […]
See our previous post for full details on original scheme Closure of the first Furlough Scheme and the Opening of the Second Furlough SchemeThe full detail around the furlough schemes can be found below however it is very important that you understand and appreciate that the first furlough scheme will close on the 30th June and […]
Updated 4th June 2020 11am: The Self-Employment Income Support Scheme will be extended – with those eligible able to claim a second and final grant capped at £6,570. The grant will be worth 70% of their average monthly trading profits, paid out in a single instalment covering three months’ worth of profits, and capped at […]
A discretionary fund has been set up to accommodate certain small businesses previously outside the scope of the business grant funds scheme. (Published 02/05/2020) The statement from Gov.uk says: This additional fund is aimed at small businesses with ongoing fixed property-related costs. We are asking local authorities to prioritise businesses in shared spaces, regular market […]
Five weeks after lockdown, the UK government has announced yet more financial support for small and medium-sized enterprises (SMEs) – this time in the form of emergency “Bounce Back” loans. The Government has said that they will provide full details of the scheme on Monday 4 May. Under the Bounce Back loan scheme, the Government […]
HMRC Guidance can be found here. The guidance was updated on the 15th April with new eligibility dates, bringing in some previously excluded employees that began work prior to the 19th March. While the claim includes employer pensions and employers national insurance, don’t forget that the new Employment Allowance kicks in and is likely to cover Employers […]
Homeworking allowance The homeworking allowance was increased at the Spring Budget from £4 to £6 a week (or £26 a month) with effect from 6 April 2020. An employer can pay this fixed sum, tax-free and NIC-free, to meet the additional costs an employee incurs working at home under homeworking arrangements. Homeworking arrangements mean an agreement […]
Support for businesses that pay business rates We will introduce a business rates retail holiday for retail, hospitality and leisure businesses in England for the 2020 to 2021 tax year. Businesses that received the retail discount in the 2019 to 2020 tax year will be rebilled by their local authority as soon as possible. A […]
All businesses and self-employed people in financial distress, and with outstanding tax liabilities, may be eligible to receive support with their tax affairs through HMRC’s Time To Pay service. These arrangements are agreed on a case-by-case basis and are tailored to individual circumstances and liabilities. If you are concerned about being able to pay your […]
A Checklist for Businesses Affected by COVID-19 – key actions to take and contingency plans to make These urgent actions apply to businesses and companies regardless of size. This is the guidance we are giving to the many businesses we are advising, many of whom are now working from home and wondering where to start. […]
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