Furlough scheme reinstated for national lockdown

The coronavirus job support scheme (CJRS) will continue until 1 December 2020 with grants covering 80% of wages, while implementation of the JSS has been delayed.  Source – Accounting Web Halloween was truly a nightmare for many accountants as the government’s announcement of England’s new month-long lockdown came just as the nation was settling down to enjoy

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Fake telephone calls from HMRC

We are aware of a recent spate of fake HMRC calls. You must not make a payment if you have been cold called by HMRC to pay a tax bill, even if they threaten court or police action. HMRC will never demand money in this way.

Brace for Brexit 2: Postponed accounting

The law will change for VAT on imported goods from 1 January 2021, but to help businesses postponed accounting will be introduced on the same date. Source – Accounting Web How it works Postponed accounting will be introduced on 1 January 2021. This will mean that a VAT registered business will not pay VAT on

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Working from home because of COVID-19?

Does your client have employees working from home because of COVID-19? If they’ve asked their staff to work at home because of COVID-19 then they may have additional household expenses. If your client hasn’t reimbursed them, the employees can claim tax relief on £6 per week or £26 per month for these extra costs. The

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Deferred July 2020 Self-Assessment Payment

Deferred July 2020 Self-Assessment Payment on Account HMRC has identified that some Self-Assessment customers, who chose to defer payment of their July 2020 Payment on Account due to COVID-19, may receive a Self-Assessment statement, showing that payment is due, and interest is accruing.  HMRC can confirm that we will not impose any late payment interest

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Job Retention Bonus

The Job Retention Bonus allows employers to claim a one-off payment of £1,000 for every eligible employee they have furloughed and claimed for through the Coronavirus Job Retention Scheme (CJRS) and kept continuously employed until at least 31 January 2021. Employers do not have to pay this money to their employee.  To be eligible, employees

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New Job Support Schemes: Get the details right

HMRC finally released guidance on the operation of the twin job support schemes that both start on 1 November 2020. Source – Accounting Web There are now two job support schemes (JSS). The original one designed for businesses that are legally required to close is now called JSS Closed, and the other one introduced by the Chancellor on 22 October for

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Job support scheme expanded, three tier lockdowns to come

With the government set to introduce localised Covid-19 lockdowns of varying severity, the job support scheme (JSS) is to be expanded to support businesses required to close their doors as a result of coronavirus restrictions Reporter, Accountancy Daily, published by Croner-i Ltd Later today, prime minister Boris Johnson is expected to announce a three-tier alert

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Latest updates to Companies House services

We’ve rounded up all the latest updates as we continue to maintain services for our customers and protect the welfare of our employees in response to the coronavirus (COVID-19) outbreak. We’ve resumed the strike off process From 10 September 2020, we’ve resumed the voluntary strike off process. From 10 October 2020, we’ve resumed the compulsory

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Job Retention Bonus: Get the details right

Kate Upcraft explains the details of the job retention bonus as the law in the form of a Treasury direction has been published alongside  HMRC guidance on the income threshold and examples. Source – Accounting Webb The Chancellor visits Emma Bridgewater to promote his plan for jobs. Claims for the £1,000 bonus per eligible employee, agency worker or office holder

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HMRC has increased the threshold for paying tax liabilities to £30K

HMRC has increased the threshold for paying tax liabilities to £30K for Self-Assessment customers to help ease the financial burden they may be experiencing due to the Covid-19  pandemic.  Previously the Time to Pay plan could be used to set up instalment arrangements for paying tax liabilities up to £10K, however, since 1 October it has been officially increased.  The increase aims to

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Job Support Scheme: What we know so far

Source – Accounting Web Employers need to know whether the Job Support Scheme (JSS) will help them to retain some employees, but there are many unanswered questions. Rebecca Cave summarises what we know and where the knowledge gaps are.    The Chancellor Rishi Sunak unveils his Winter Economy Plan to parliament Currently all that has

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The Winter Economy Plan. Explained

Source – Tax Calc Chancellor Rishi Sunak has outlined a series of measures to support jobs and the economy over the next six months. Here we provide an overview of the five new initiatives with a brief explanation. Please pass it on to your clients as you see fit. 1. New Job Support Scheme With

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Chancellor unveils new Job Support Scheme

A host of new support measures includes the introduction of ‘Pay As You Grow’ loans, as well as an extension to the 5% VAT rate for hospitality and tourism ACCOUNTING WEB  Thursday, 24 September 2020, 12:35   The chancellor has today announced a new Jobs Support Scheme that will see the government “directly support” the

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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.