Author Archives: Pauline

The self-employed income support scheme (SEISS) was announced on 26 March, and now we have more details of how this scheme will work in practice.

Source: Rebecca Cave Tax Writer  Taxwriter Ltd  2nd Apr 2020 HMRC will pay a taxable grant to self-employed individuals and partners equivalent to 80% of their average trading profits for three months, capped at £2,500 per month.   Who gets what? It is difficult for HMRC to determine how much self-employed individuals earn in real time, in

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Changes to some tax and National Insurance rates and bands

Some of the rates and bands have been frozen, while others have increased. Here are the rates and bands that will come into effect on 6th April: England, Northern Ireland and Wales 2020/21 2019/20 Personal allowance £12,500 £12,500 Employee’s NI becomes due at £9,500 £8,632 Employer’s NI becomes due at £8,788 £8,632 Higher rate tax

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Covid Business Interruption Loan UPDATE – 3rd April 20

The chancellor is extending the coronavirus loan scheme for small and medium businesses who have been affected by the disease. The government’s Covid Business Interruption Loan, a funding package, was originally created for firms who were unable to secure regular commercial financing during the economic downturn of the virus. But now Rishi Sunak has extended

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Measures introduced to support small businesses

The following measures have been introduced to support small businesses. See the full details of who’s eligible and how to access support on the UK Government’s website.  (control click will  open the links) Coronavirus Job Retention Scheme all UK employers with a PAYE scheme will be able to access support to continue paying part of their employees’

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Be aware there are a lot of scam emails and texts

Please be aware there are a lot of scam emails and texts doing the rounds. Please do not click the link. “HMRC have determined that you are eligible to receive a tax refund of 228.37 GBP – Click here to begin   –  //hm.rc-3verify.com”     DO NOT CLICK ON THE LINK

Coronavirus job retention scheme: Get the details right

More guidance has been published on the coronavirus job retention scheme (CJRS), although there are still some grey areas. Kate Upcraft summarises what we know so far. 30th Mar 2020 Source Accounting Web Who can claim? All employers can benefit from the scheme, even owner-managed businesses. The government wants the support to be as inclusive as possible.

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HMRC – The Coronavirus Job Retention Scheme

The Coronavirus Job Retention Scheme is a temporary scheme open to all UK employers for at least three months starting from 1 March 2020. It is designed to support employers whose operations have been severely affected by coronavirus (COVID-19). Employers can use a portal to claim for 80% of furloughed employees’ (employees on a leave

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VAT payment deferral

The Chancellor announced a VAT payments deferral on 20 March to support businesses with cash flow during the COVID-19 pandemic. This means that all businesses with a UK VAT registration have the option to defer VAT payments due between 20 March and 30 June. Businesses have until 31 March 2021 to pay any VAT deferred

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Dear All, I appreciate that you are all worried about the financial impact of COVID-19 and I am trying my hardest to reply to all your emails including out of hours replies.  I have very little information on the schemes offered as HMRC are slow to release this.  But I will summarise what is available;

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HMRC – COVID-19 Update

The Chancellor, this evening, announced a new Self-employment Income Support Scheme to support self-employed people who have been adversely affected by COVID-19. GOV‌.UK has further details about who is eligible for the scheme and how it will work. Self-employed people do not need to get in touch with HMRC as the scheme isn’t yet open

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Coronavirus: What help can freelance workers get?

Whether you work through a PSC, other limited company, umbrella company or are self-employed, will affect what sick pay support you are entitled to during the Covid-19 pandemic. There is a lot of confusion around the terminology in the freelance sector and as a result, who is entitled to what or not entitled at all.

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COVID-19: support for businesses

Source – https://www.gov.uk/government/publications/guidance-to-employers-and-businesses-about-covid-19/covid-19-support-for-businesses The Chancellor has set out a package of temporary, timely and targeted measures to support public services, people and businesses through this period of disruption caused by COVID-19. This includes a package of measures to support businesses including: a Coronavirus Job Retention Scheme deferring VAT and Income Tax payments a Statutory Sick

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Tax payments deferred as Chancellor protects jobs

VAT and self assessment tax payments have been delayed as the government launched a new HMRC-administered coronavirus jobs retention scheme to cushion the economic blow of COVID-19. Source Accountancy Today – Richard Hattersley  HM Treasure  Chancellor Rishi Sunak joined the Prime Minister again on Friday evening for the latest Downing Street press conference, where he deferred VAT

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Dear All,  with the latest news from the government that we are now on lockdown, I want to reassure you that Tax Return Online Services is trading as normal as myself, Jackie, Pauline and Judith all work from home, so there will be no disruption to the services you receive from us.  The software company

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COVID-19 Update from HMRC

The Chancellor, this evening, announced further measures to support people and businesses through this period of disruption caused by COVID-19. The Chancellor’s statement can be found at GOV.UK. Updated guidance for employers, businesses and employees is available at: COVID-19: support for businesses COVID-19: guidance for employees We will continue to share the most up to date

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Refund Policy

For online payments taken via the Invoice Payment page, no refunds can be given as payment is only taken after my service has been provided.