Chancellor Rishi Sunak has unveiled his summer economic update in a bid to mitigate the impact of the Covid19 pandemic, with the aim of boosting job creation through a government ‘plan for jobs’ and encouraging consumer spending
Continue readingCategory Archives: COVID19 Business Hub
Coronavirus is more than a world health emergency, the economic impacts are very real and emergency provisions are being made worldwide in an attempt to support individuals, business and anyone who advises them. HB Accountants are monitoring the COVID19 situation closely and collating resources as conditions unfold
COVID19: Final call for the first SEISS grant
Back in mid-May when applications opened for SEISS grants, a deadline for claims was not specified. However, the deadline of 13 July 2020, which was announced when the scheme was extended, is fast approaching and your claim for the first grant must be made by this date.
Continue readingCOVID19: Important guidance if you need to visit us
Updated February 2021: In the light of continuing Covid19 pandemic, we wanted to highlight the precautions we are taking as a company and those we ask you take to minimise the risk to anyone coming into our offices.
Please only visit our offices if you have a pre-arranged appointment with a member of our team and only where the use of video conferencing for meetings is not practical.
Continue readingCJRS Version 2.0: Variable hours employees, making claims and practical tips to get you ready
HMRC’s guidance for the CJRS is vast and somewhat confusing in parts. Usual Hours remains a headache as you can find conflicting HMRC guidance as to how the calculation works. Clarification is still needed from HMRC on “working hours” but here is a clearer picture of how to calculate variable hours employees and our practical tips to get you ready for CJRS version 2, flexible furloughing
Continue readingCOVID19: The Bounce Back Loan and the Power of Protection
The Bounce Back Loan is designed to inject much needed cashflow to businesses to get the cogs of the economy moving again. If your limited company cannot bounce back, and has to close down, what happens? Well, usually bank borrowing is underpinned by a director’s personal guarantee which results in you having to repay the debt, when you’ve just lost your income. Ouch!
Continue readingCOVID19: Changes to the Coronavirus Job Retention Scheme (CJRS)
CJRS has changed. CJRS now falls into two distinct parts with different rules applying. This new version of the scheme is to support the return to work while also being sufficiently flexible to adapt to business needs, as well as those of employees needing time for childcare or to look after other relatives. Here is what you need to know.
Continue readingSelf-employed: Managing cash and risk in uncertain times
The Covid-19 pandemic has repercussions for every business. There are a range of support
measures available to the self-employed, and this briefing sets out guidance on some of the
many questions you are likely to have and although this is uncharted territory for everyone,
there are still basic management strategies that will help minimise risk to you and your business.
Companies: Managing risk in uncertain times
Even the best-run and longest-established.businesses across the country continue to feel the adverse effects of the coronavirus (COVID-19) lockdown, whilst the UK government announces measures to keep the economy buoyant during the pandemic, managing risk and cash flow in these uncertain times is critical.
We have produced a three-page factsheet providing information for you and your business on:
Continue readingCOVID19: Reimburse employees, tax-free, for costs incurred by working from home
If your employees are working from home at the moment, they may be saving money by not commuting or buying lunches, however, they are likely to be incurring costs, such as from increased household bills. Employers can reimburse these expenses, tax free, within prescribed guidelines. Read on to learn more.
Continue readingCOVID19: HMRC’s Coronavirus Job Retention Scheme (CJRS) claims corrections facility now live
Calculating the correct amounts of employees costs to claims under HRMC’s furlough scheme and the lack of an error correction facility during the claim process has given a headache to many an employer. The online error correction facility only applies to over-claims of CJRS grants
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