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
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COVID19: 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 readingHB Accountants – how to choose an accountant and tax specialist
Quite often we hear “I am a business owner but my company finances are not the first thing I think about when I get out of bed in the morning!” We get this! That’s why we’re here!
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 readingCompanies: 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: 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
Continue readingCOVID19: Coronavirus Job Retention Scheme: 10 June cut off and ‘flexible furloughing’ from July
Chancellor of the Exchequer Rishi Sunak has outlined further details on how the government support for employers will operate during the easing of lockdown measures and as the government encourages employees to return to work.
Continue readingCOVID19: Tax-Free Childcare and 30 hours free childcare changes eligibility have changed during Coronavirus
Temporary changes have been made to the eligibility criteria for Tax-Free Childcare and 30 hours free childcare, during coronavirus.
The changes may affect you if you, or someone you live with, are:
- on furlough
- not able to work or you’re working less
- self-employed
- a critical worker
COVID19: Proposed changes to the Coronavirus Job Retention Scheme (CJRS)
Latest COVID19 Job Retention Scheme CJRS proposed changes – announced 29 May 2020 – The Chancellor has announced the government’s plans to change the CJRS which will now be re-engineered to support businesses sending staff back to work. Employers will be able to put staff on part-time furlough, claiming the CJRS grant for a portion of their salary.
Continue readingCOVID19: Disincorporation – what you need to know before dissolving your limited company
The ongoing lockdown may be the catalyst for many limited company owners to change their business model in order to survive or to create a simpler way of working. One option is to disincorporate – in other words, dissolve the limited company and, if the business is still viable, operate as a sole trader instead.
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