Information on the Job Support Scheme is sketchy to say the least. The scheme was only announced yesterday and the Factsheet issued by HMRC shortly afterwards is relatively short (four pages). It refers to further guidance to follow. If you want ... [Continue Reading]
VAT Rate Reduction
VAT on sales is being reduced for hospitality, hotel and accommodation and attractions businesses. The reduction is substantial – down to 5%. It is effective from Wednesday – 15 July – and will last until 12 January 2021. Both these dates are in the ... [Continue Reading]
Eat Out to Help Out
Eat Out to Help Out starts in August. A 50% discount to your customers should help. To qualify for government support for the scheme, your business needs to be registered. Registration starts on Monday, 13 July. If you want to be able to offer the ... [Continue Reading]
Furlough – July 2020
The guidance for the Furlough scheme (CJRS) has been updated on 12 June, as promised. However, the updated guidance still leaves questions unanswered. This is an outline of the main points of the scheme from 1 July: Claim periods must be for ... [Continue Reading]
SELF-EMPLOYED SUPPORT
An extension to the Self-Employed Income Support Scheme (SEISS) was announced by the chancellor, Rishi Sunak, as part of his announcement on Friday. Many representations have been made and the government has listened. The scheme is being ... [Continue Reading]
Furlough Extension
Furlough Scheme changes were announced by the Chancellor, Rishi Sunak, on Friday afternoon. This was followed by an emailed update later that evening and, subsequently, a Factsheet was issued. An extension to the Self-Employed Income Support ... [Continue Reading]
Self-Employed Income Support – 80% Grant
HMRC has released more information about claiming – and being paid – under the Self-Employed Income Support Scheme (SEISS). The major, and very important, point is that in order to apply for the grant, applicants must have a Government Gateway ... [Continue Reading]
Bounce Back Loans – an update
Some information and clarification about the Bounce Back Loan Scheme was issued over the weekend. It goes "live" today (4 May) and applications can be submitted from today. Precise details about the underwriting process haven’t been published ... [Continue Reading]
Company Accounts – Get them in early
Coronavirus is affecting the profits of most companies. Some will, unfortunately, become loss making. HMRC is quite readily allowing time to pay arrangements for corporation tax. A quick telephone call usually results in an extension of up to ... [Continue Reading]
Child Benefit – Register or risk losing it
Quite a few people haven’t bothered to register for Child Benefit because they assumed there was no point because they would only have to repay it. Reductions in income because of coronavirus may bring them under the threshold where they don’t ... [Continue Reading]
