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]
Furlough Pay Reclaiming – An Update
Guidance on reclaiming furlough pay (Coronavirus Job Retention scheme – CJRS) has been updated by HMRC. This is a summary of the main changes. Change of date While not directly related to claiming, some of the dates have been changed, which will ... [Continue Reading]
Furlough pay claims
Employers want to know about reclaiming furlough pay (CJRS – Coronavirus Job Retention Scheme). A little more information came to light following a meeting of The Treasury Select Committee where HMRC Chief Executive, Jim Harra, was asked ... [Continue Reading]
Coronavirus Business Interruption Loan Scheme
The Coronavirus Business Interruption Loan Scheme (CBIL) sounds great. 12 months interest paid by the government. The government will also pay any fees. Why isn’t every business applying? Maybe it isn’t quite as simple or straightforward as it ... [Continue Reading]
Furlough – Calculating what to pay
Calculating what an employee on furlough needs to be paid has led to a number of queries. Guidance has been issued and a summary might help. Cut off Only employees which were on the payroll on 28 February 2020 can be furloughed. This is the first ... [Continue Reading]
Self-Employed Covid-19 Help
The self-employed were the subject of the Chancellor’s announcement on Thursday. Anything is welcome but not everything is crystal clear. As with most of the initiatives announced, there are big question marks over some of the proposed ... [Continue Reading]
Tax in song
There are loads of songs about love and relationships but relatively few about the relationship we love to hate – tax. We had a think and came up with these happy ditties. Please let us know if you can think of any others. “Taxman” - The ... [Continue Reading]
