If your business is located in England and in an area designated for local lockdown, then you may be eligible to receive a new support grant announced 9 September 2020. What the government has said Businesses in England required to close due to local lockdowns or targeted restrictions will now be able to receive grants … Read more New grants available to businesses in local lockdown areas
Businesses are now able to sign up to the Kickstart scheme under which people aged between 16 and 24 who are claiming Universal Credit can receive a six-month work placement. Under the scheme, the Government will pay 100% of the age-relevant National Minimum Wage, National Insurance and pension contributions for 25 hours a week. Employers … Read more Kickstart Scheme Launches
Working families, who are eligible for Tax-Free Childcare or 30 Hours Free Childcare but have temporarily fallen below the minimum income requirement as a result of the pandemic, will continue to receive financial support until 31 October. Critical workers who may exceed the income threshold for the 2020-21 tax year, as a result of working … Read more Working families affected by Coronavirus
Time to Renew Tax Credits HM Revenue and Customs (HMRC) is reminding tax credits customers that they need to tell HMRC about any changes in their circumstances or income by 31 July. Tax credits help working families with targeted financial support so it is important that people don’t miss out on money that they are entitled to. Renewing tax credits online is quick … Read more Tax Credits Renewal 2020
Restaurants and other establishments serving food for on premises consumption can now sign up to a new government initiative ‘Eat Out to Help Out’ aimed at protecting jobs in the hospitality industry and encouraging people to safely return to dining out. The Eat Out to Help Out registration page went live this morning on GOV.UK, … Read more Eat Out to Help Out
The self assessment second payment on account (due 31st July, 2020) can be deferred until 31st January 2021. You have this option if you’re: registered in the UK for Self Assessment and finding it difficult to make your second payment on account by 31 July 2020 due to the impact of coronavirus You can still … Read more Self Assessment Payment Deferrals
HMRC has announced a five-month delay to the introduction of the VAT reverse charge for construction services, due to the impact of the coronavirus pandemic. The new rules mark a complete overhaul of the way VAT is payable on building and construction invoices, as part of moves to reduce fraud in the sector. Under the … Read more VAT reverse charge on construction services
The Self-Employment Income Support Scheme is due to be active on the 13th May 2020 but how are HMRC calculating the amounts and what if you are not eligible? The scheme will enable the self employed to claim a taxable grant of 80% of their monthly trading profits. This will be paid in a single … Read more Self-Employment Income Support Scheme
HMRC have now issued further guidance for the government’s Self-Employed Income Support Scheme which will open ahead of schedule on the 13th May, 2020. The scheme will benefit self-employed individuals or those in a partnership whose business has been adversely affected by coronavirus, covering most people who get at least half of their income from self-employment. SEISS is a temporary scheme that will … Read more Self-Employment Income Support Scheme
Small businesses boosted by bounce back loans, a new 100% government backed loan scheme. The Chancellor announced on Monday 27th April that small businesses could benefit from this new scheme. It’s a fast-track finance scheme providing loans with 100% government guarantee. Businesses will be able to borrow between £2,000 and £50,000 and be able to … Read more Bounce Back Loans
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