Category Archives: Payroll

COVID support schemes are ending, find out what is continuing

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The SEISS fifth grant period ends today as does the furlough scheme, with employers having until 14 October to submit a claim for the latter – as does the VAT reduction for hospitality and tourism to 5%, which will see an increase to 12.5

The ICAEW have issued a handy timeline for the remaining schemes.

Two forms of data are shown in the chart: how much money has been spent or lent on each scheme so far, and each scheme’s end date.

The chart does not include all of the support measures provided by the government or the Bank of England to businesses and individuals, for example the £20 a week uplift in universal credit to those on low incomes that also comes to an end on 30 September or the corporate finance lending facilities provided by the Bank of England to very large businesses.

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What does MTD Making Tax Digital mean for sole traders from 2023 – MTD for Income Tax

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Making Tax Digital for Income Tax Self-Assessment becomes law on 6 April 2023 and aims to make tax accounting easier for businesses and individuals such as sole traders by legislating the digitalisation of tax data and submission.

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HB Accountants are looking for a trainee accountant apprentice and a business administration apprentice to join the team – could an apprenticeship be for you?

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HB Accountants are training firm in Hoddesdon, Hertfordshire, and we are all about empowering and inspiring young people to be the very best versions of themselves. As part of our Corporate Social Responsibility strategy, we have developed an Education Partnership Programme (EPP) and for many years have worked in partnership with Hertford Regional College, taking on apprentices from local schools. 

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Be Prepared – changes to furlough from July 2021

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Furlough has been extended until 30 September 2021, however, the level of grant available to employers under The Coronavirus Job Retention Scheme is set to reduce from 1st July, 2021. This means that employers will need to ‘top up’ wages to ensure that their employees continue to receive 80% of their salary, capped at £2,500 per month.

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Are you using all your Tax Allowances? Use Them or Lose Them – learn more here

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So many people aren’t claiming all of the allowances that they are entitled to – don’t be one of them! HB Accountants are on a mission to let people know (and claim what’s rightfully theirs’ to use) all the allowances and tax breaks, to improve the financial future for themselves and for their families – our Tax Manager Amy is here to help

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How to determine if your worker is employed or self-employed following the new IR35 rules for the private sector from April 2021

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Buoyed by the apparent success of rolling out IR35 into the public sector, HMRC have extended IR35 rules to the private sector with effect from April 2021. If you employ anyone through their limited company or via an agency then you will need to consider the new IR35 rules – read our guide to help you understand more.

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Cash Bonus For Employers Who Take On A New Apprentice

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HIRE AN APPRENTICE AND RECEIVE UP TO £4,000

Any employer hiring new apprentices from 1st April 2021 will be eligible for extended cash bonuses of up to £4,000. Until 30 September 2021, grants of £3,000 per new hire, regardless of the apprentice’s age, will be distributed from the Treasury. This is on top of the £1,000 payment provided for new apprentices aged 16 to 18 and those under 25 with an Education, Health and Care Plan, meaning that some employers could receive £4,000 in total.

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