The FCA (Financial Conduct Authority) are seeking legal clarity on business interruption insurance during the coronavirus (COVID-19) crisis. The coronavirus pandemic has led to widespread disruption and business closures resulting in substantial financial loss. Many customers have made claims for these losses under their BI insurance policies. There has been widespread concern about the lack … Read more Business interruption insurance
The Large Business Interruption Loan Scheme which has been put in place to offer support to larger businesses affected by coronavirus. The scheme will help medium to large sized businesses to access loans or finance up to £200 million. The government will guarantee 80% of the finance to the lender. Who can apply? The eligibility … Read more Large Business Interruption Loan Scheme
The coronavirus Statutory Sick Pay Scheme is due to launch on the 26th May, 2020. This scheme will enable employers with fewer than 250 employees to claim coronavirus- related Statutory Sick Pay. Eligibility criteria for the online scheme is as folloes: you’re claiming for an employee who’s eligible for sick pay due to coronavirus the … Read more Coronavirus Statutory Sick Pay
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 Job Retention Scheme
With the support for Self-employed and the job retention scheme for employees, limited company directors could get caught in a gap between the two schemes. This group contains contractors, consultants and other off payroll workers whose services to an organisation are provided through a limited company or a personal services company. With the norm being … Read more Limited Company Directors Support COVID-19
Financial assistance for Businesses during COVID-19 Since the announcement of financial assistance to businesses which employ staff under PAYE, we await the set-up of the HMRC portal through which it is intended that businesses will claim the 80% rebate. It appears that companies can make a claim having designated which staff are ‘furloughed’ i.e. those … Read more Government financial help to Businesses
Payment dates to HMRC changed due to COVID-19 With the outbreak of COVID-19 gripping the nation HMRC have announced some changes to the payment dates for VAT and Self-assessment. I would like to take this opportunity to clarify that although there has been a change to the payment deadlines the returns still have to be … Read more Payment dates to HMRC
The Chancellor has set out a package of temporary, timely and targeted measures to support public services, people and businesses through this period of disruption caused by the Coronavirus. This includes a package of measures to support businesses including: a Coronavirus Job Retention Scheme deferring VAT and Income Tax payments a Statutory Sick Pay relief … Read more Coronavirus Support
The aim of the Coronavirus job retention scheme is to avoid people losing their jobs altogether, the government will reimburse 80% of the wage costs of “furloughed workers”, ie workers who are sent home and do not do any further work for the organisation. All UK employers, including charitable or non-profits, are eligible. Employers need … Read more CORONAVIRUS JOB RETENTION SCHEME
How you set up a business depends on what kind of business you. It could be a Sole Trader, Partnership or a Limited company. Setting up as a Sole Trader If any of the following apply then you should register as a sole trader with HMRC: Earned more than £1000 from self employment between 6th … Read more How to Set Up a Business
Copyright 2019 © All rights Reserved.
