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Covid-19

Coronavirus Update – Government Guidances 12/11/2020

The Government has published guidances in respect of various coronavirus supports. We have already provided the headline information of these supports in previous Updates, but in view of the importance of these to businesses, we thought it useful to here provide links to these latest guidances for those who wish to study the detail. Coronavirus Job…Read More

Act now to prepare for Brexit – 11/11/2020

With 2020 having been dominated by Covid-19 and its implications Brexit has, until now, taken a bit of a back seat. And yet, come the end of the year, when the transition period ends, there are some significant implications for all businesses. Key things you need to be aware of and act on include: Reviewing…Read More

Coronavirus Update – Increased Business Support 06/11/2020

The Chancellor has announced increased business support for employers and self-employed, albeit with a sting in the tail. Coronavirus Job Retention (furlough) Scheme -The Scheme had already been extended to early December ( see our Update 2nd November) and has now been further extended to 31st March 2021. -Up to January 2021 the grant will be…Read More

Coronavirus Update – Amendments to Business Support 03/11/2020

As a consequence of the national restrictions which come into effect on 5th November, the Government has announced further enhanced support. Self Employment Income Support Scheme The Grant for the 3 months November 2020 to 31st January 2021, notified in our Update of 23rd October 2020 has increased to 55% of average monthly profits up to a…Read More

Coronavirus Update – Extension of Job Retention Scheme 02/11/2020

As a consequence of the national restrictions that take effect on 5th November 2020, the Job Retention Scheme, which was due to have finished on 31st October has been extended, and the replacement Job Support Scheme has been postponed. -The Scheme is extended from 1st November until December. The exact date in December has not…Read More

Coronavirus Update – Increased Business Support 23/10/2020

Job Support Scheme The Government has announced improved terms of the Job Support Scheme, commencing on 1st November  2020, for businesses affected by the pandemic, but which are not subject to restrictions that legally require them to close. The original terms were detailed in our Update dated 24th September 2020, and where relevant are shown in…Read More

Coronavirus update – Time to pay self assessment tax 14/10/2020

As part of the pandemic support, self – assessment taxpayers have been able to defer the July 2020 payment to 31st January 2021, without incurring interest or penalties. A further deferral beyond 31st January 2021 is now available, though not automatic nor as generous. Here are the main points: -Payment of tax due on 31st July…Read More

Coronavirus Update -Job Retention Bonus 05/10/2020

HM Revenue & Customs have issued guidance on the Job Retention Bonus, further to their original policy paper. We provided an Update on the policy paper on 3rd August 2020, and this further Update should be read in conjunction with that. HMRC latest guidance can be found via the link below. We would particularly draw…Read More

Coronavirus Update – Winter Economy Plan 24/09/2020

The Chancellor, Rishi Sunak, today announced additional support for businesses and workers. Whilst the details and guidance are yet to be published, the main elements of the announcement were: -Job Support Scheme to commence 1st November, for a 6 month period, providing a grant towards the wages of employees working reduced hours due to decreased…Read More

Coronavirus Update – Kickstart Scheme 07/09/2020

The Government has launched the Kickstart Scheme to provide job placements for young people currently on Universal Credit . The main features of the Scheme include: -Funding is provided for a 6 month placing at National Minimum Wage, associated National Insurance contributions and auto enrolment pension, together with £1500 per placement for setup, support and…Read More

Coronavirus Update – HMRC briefing on their continuing support 27/08/2020

HM Revenue & Customs have issued a briefing paper explaining how they intend to provide support over the coming months. We particularly draw your attention to the following:  -Taxpayers are expected to file returns on time and should prepare to meet future tax obligations. -Penalty notices are being issued to those not meeting their obligations,…Read More

Coronavirus Update – Job Retention Bonus 03/08/2020

On 8th July 2020, the Chancellor of the Exchequer announced the Job Retention Bonus. HM Revenue & Customs have provided more detail in a newly published policy paper.  -All employers are eligible for the Scheme which provides them with a one-off payment of £1,000 for each employee who they previously claimed for under the Job…Read More

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