COVID-19 support for businesses

Support for businesses covid-19

The government have distributed £12.3 billion to local authorities so they can support businesses during the COVID-19 pandemic. As of 19th April 2020, £6 billion had been paid out to 484,166 business properties. The Small Business Grants Fund is a £10,000 grant per eligible business, originally announced at Budget. Businesses included in this scheme are … Read more

2020/21 Tax year updates

2020-21 increases tax pensions student loans hourly wage minimum wage

NIC Threshold Rise With the 2020/21 tax year starting on 6th April 2020 we see the NIC threshold rise to £9,500. The personal allowance is set to stay at £12,500. This will result in a cut of £104 for the average full time worker and a cut of £78 for the average self-employed worker. Hourly … Read more

Job Retention Scheme

Job retention scheme COVID-19

Under the job retention scheme employers can claim 80% of their furloughed staff wages back, HMRC are still working on the portal but once it is ready the following information will be needed: The PAYE reference number Number of employees being furloughed The start and end date of the claim Amount to be claimed Company … Read more

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Limited company Formation

From AJR & Co Ltd