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Covid-19 support grants still available

Covid-19 Support grants

With £850m Covid-19 support grants still available, businesses can still apply for grant funding from local authorities. Hospitality, leisure and accommodation businesses can still apply for one-off cash grants of up to £6,000 through the Omicron Hospitality and Leisure Grant scheme. The funding is made up of £556m available through the £635m Omicron Hospitality and … Read more

Omicron Support

Omicron Support

The government has announced additional Omicron support to help businesses most affected by the new variant of Coronavirus. Businesses in the hospitality and leisure sectors in England will be eligible for one-off grants of up to £6.000 per premises. With more than £100 million discretionary funding being made available for local authorities to support other … Read more

Declaring COVID-19 grants

HMRC

Customers who received COVID-19 grant payments during the 2020 to 2021 tax year should declare them in their tax return. More than 2.7 million claimed at least one Self-Employment Income Support Scheme (SEISS) payment up to 5 April 2021. These grants are taxable and should be declared on the 2020 to 2021 tax return before … Read more

Extended loss carry back

Extended Loss carry back rules explained

Extended loss carry back rules explained. As part of a range of support measures to support businesses post-covid the extended loss carry back rules provided a temporary tax break for businesses. Finance Act 2021 detailed new rules around taxation for companies providing for a temporary extension to the loss carry back legislation for trading losses … Read more

Temporary insolvency measures

Temporary Insolvency Measures

Temporary measures brought in to support businesses from insolvency during the pandemic will be phased out from 1 October Companies in financial distress as a result of the pandemic have been protected from creditor action since June last year, through the Corporate Insolvency and Governance Act 2020. This was to ensure that viable businesses affected … Read more

Fifth SEISS Grant Portal Open

HMRC

The fifth SEISS grant can be claimed if you think that your business profit will be impacted by coronavirus between 1 May 2021 and 30 September 2021. The online application portal is now open! The application process for the fifth SEISS grant will depend on details of two years of turnover and losses resulting from the … Read more

Furlough Scheme Changed

Furloug Scheme Changed 1st July 2021

The Government contribution towards the furlough scheme changed as of the 1st July 2021. From 1st July, the level of grant reduced with employers now contributing towards the cost of furloughed employees’ wages. To remain eligible furloughed employees must still be paid 80% of their wages (up to a cap of £2,500) for the time … Read more

5th SEISS Grant

HMRC

HMRC has confirmed that the 5th SEISS (Self Employment Income Support Scheme) grant will be available from the end of July. This will cover the period May to September. The grant is taxable and will be paid out in a single instalment. Guidance for claiming the grant will be available by the end of June … Read more

Tax Debt Collection

Debt Collection

Tax debt collection as the UK emerges from Covid-19 Protecting livelihoods and keeping people in work remains the government’s priority. As it has been throughout the pandemic. HMRC has been central to delivering on this by pausing many debt collection activities and delivering support packages including Coronavirus Job Retention Scheme and Self Employment Income Support Scheme. … Read more

SEISS Grant Over claims

SEISS Grant over claims

Self-Employment Income Support Scheme – receiving grants you were not entitled to guidance. An overclaimed SEISS grant includes any amount of grant which: you were not entitled to receive was more than the amount HMRC said you were entitled to when you made your claim This includes where a tax return being amended on or … Read more