Today (29 May) the Chancellor, Rishi Sunak, announced more details about the extension of the Coronavirus Job Retention Scheme (CJRS) and the Self-Employment Income Support Scheme, and we’ve outlined these below for you. Coronavirus Job Retention Scheme The Chancellor has announced three changes to the job retention scheme: From 1 July 2020, the scheme will
Landlords are not eligible for many of the schemes available for businesses to help mitigate the effects of the lockdown. Weathering the storm requires careful financial management. Limited options for landlords Landlords do not have a go-to safety net, such as the furlough scheme, to ease pressure on their income. This includes those whose primary
The government is committed to doing whatever it takes to support businesses and individuals through the coronavirus pandemic and the following webinars have the information, guidance and tips to help you to support your clients. There are a limited number of spaces, so save your place now. Coronavirus COVID-19 Statutory Sick Pay Rebate Scheme: Providing an overview
Source: Croner-I Tax Webinar Join our expert, Stephen Relf, for practical advice around SEISS claims and grants, including: What is the SEISS? Understanding the eligibility conditions What are the exclusions from the SEISS How to calculate trade profits and total income How to calculate the grant How to make a claim And payment of the
It’s nearly a month since the Coronavirus Job Retention Scheme (CJRS) opened and many businesses will be preparing to make another claim in order to receive money by the end of May. To ensure you receive a payment by the end of May, you need to apply by Wednesday 20 May. When you make a
The claims system for the Self-Employed Income Support Scheme (SEISS) went live on the 13 May, for eligible customers to begin to make their claims and we are pleased to say the first day of claims has proceeded smoothly. We appreciate the invaluable support you provide to your clients in helping them prepare to claim
The Coronavirus Job Retention Scheme is to be extended by four months and employers will be able to bring back furloughed employees part-time, as part of the government’s plans to ‘re open the economy’, the Chancellor has announced Reporter, Accountancy Daily, published by Croner-i Addressing the House of Commons earlier today, Chancellor Rishi Sunak said: ‘The
The Treasury has formally launched the self employment income support scheme (SEISS) for self employed individuals or members of partnerships whose business has been adversely affected by coronavirus, with payments expected before the end of the month Reporter, Accountancy Daily, published by Croner-i Ltd The department says the scheme is up and running weeks ahead of its
The Chancellor has announced that the Coronavirus Job Retention Scheme (CJRS) will continue until the end of October to give businesses more breathing space. But he also announced major changes to the scheme, which could add to its complexity for those managing payroll. Until the end of July, the Government will continue to pay furloughed
The government is committed to doing whatever it takes to support businesses and individuals through the coronavirus pandemic and the following webinars have the information, guidance and tips to help you to support your clients. There are a limited number of spaces, so save your place now. Coronavirus COVID-19 Statutory Sick Pay Rebate Scheme: Providing an overview
He said the government backed workers and companies going into the lockdown, and would support them coming out. Mr Sunak confirmed that employees will continue to receive 80% of their monthly wages up to £2,500. But he said the government will ask companies to “start sharing” the cost of the scheme from August onwards. Mr
The bounce back loan scheme offering small businesses easy-to access loans of up to £50,000 has officially opened on 4 May, with the cash promised within days Pat Sweet Reporter, Accountancy Daily, published by Croner-i Ltd Thousands of small firms and sole traders are eligible for 100% government-backed bounce back loans of between £2,000 and
By Nichola Ross Martin The government has accelerated the launch of its Self-Employment Income Support Scheme, and the first applications will be taken between May 13 and May 18, with payments following six working days later. Applications can only be made by the individual, but agents are encouraged to coach their clients on how
This week we have started contacting self-employed customers who we think could be eligible for the Self-Employment Income Support Scheme (SEISS), based on the information they provided in their 2018 to 2019 tax return. We’re inviting customers to use our online checker which will quickly confirm whether they are eligible and will give customers a
You will be contacted directly from HMRC by email, text or letter – beware as there are a lot of scams around at the moment. This communication does NOT have a link, anything received with a link DO NOT OPEN. If you absolutely cannot claim online, there will be a telephone option, but at the
The self-employed income support scheme (SEISS) will be open for applications from 13 May, but tax agents are barred from claiming the grant on behalf of their clients. 5th May 2020 – Source Accounting Web HMRC has also appealed to tax agents to help their clients prepare, but tax agents won’t be able to access
This week we will start contacting people who may be eligible for the new Self-Employment Income Support Scheme. It is worth using the online tool now to see if you are eligible https://www.tax.service.gov.uk/self-employment-support/enter-unique-taxpayer-reference If they are eligible, this scheme will allow them to claim a taxable grant worth 80% of their trading profits up to
The Pensions Regulator Automatic enrolment: qualifying earnings thresholds increased on 6 April 2020, workplace pensions earnings thresholds changed. The lower threshold of qualifying earnings increased to £6,240, but the upper threshold and the earnings trigger remained the same, at £50,000 and £10,000 respectively. You should make sure that any software you or your clients use
Temporary changes to the VAT payments due between 20 March 2020 and 30 June 2020 to help businesses manage their cash flow. Published 26 March 2020 Last updated 27 April 2020 — see all updates From: HM Revenue & Customs Contents 1. VAT payments you can defer 2. If you choose to defer paying your VAT
New 100% government backed loan scheme for small business Published 27 April 2020 From: HM Treasury · businesses will be able to borrow between £2,000 and £50,000 and access the cash within days · loans will be interest free for the first 12 months, and businesses can apply online through a short and simple form
The government is committed to supporting people, employers and businesses through the coronavirus (COVID-19) pandemic and HMRC has a range of online support for you. If you’ve missed any of our live webinars, you can catch up with our series of recorded webinars on HMRC’s YouTube channel – available at a time to suit you.
Chancellor Rishi Sunak unveiled a new 100% government-backed loan scheme which will provide loans of up to £50,000 for small businesses from Monday. 28th Apr 2020 – Source Accountancy Web The Bounce Back Loan Scheme will enable small businesses affected by the pandemic to borrow between £2,000 and £50,000 in an initiative described by the Chancellor
Corporation Tax Unique Tax Reference Agent Authority 64-8 On 6 April 2020, the profits or UK property income from UK property businesses of over 20,000 non-resident company landlords were brought within the scope of Corporation Tax. We have written to the majority of these companies to let them know their Corporation Tax Unique Tax Reference
Stay vigilant about scams, which may mimic government messages such as ‘Stay at home’ and ‘Stay home, stay safe’, as a way of appearing authentic and unthreatening. Don’t give out private information or reply to text messages, and don’t download attachments or click on links in texts or emails you weren’t expecting. You can forward
At Budget 2020, the Chancellor announced that the Corporation Tax (CT) rate would remain at 19% and would not reduce to 17% on 1 April 2020. This rate is set at least a year in advance to accommodate companies that pay their CT by quarterly instalments. These companies must estimate their liability within their accounting