The Chancellor has announced an expansion to the UK government-backed loan scheme for large businesses affected by coronavirus in a bid to help larger businesses through this crisis.
Continue readingCategory Archives: Tax
COVID19: Government launches new coronavirus business support finder tool
The Government have announced their new ‘support finder’ tool. If you have a UK business or are self-employed, the aim of the new tool is to quickly and easily determine what financial support is available to you during the coronavirus pandemic.
Continue readingCOVID19: Furloughing – Holiday Pay and Annual Leave Guidance
The government have finally given some further guidance on how annual leave and holiday pay will work with furloughed employees, albeit that it was released after close of business on Friday, and only in the guidance notes for employees, so you would be forgiven for missing it.
Here are some of the questions that have been answered:
Continue readingCOVID19: Coronavirus Job Retention Scheme: step by step guide for employers
The Government has issued a Coronavirus Job Retention Scheme Step by Step guide for employers. This guide explains the information that employers need to provide to claim for their employees’ wages.
The step by step guide will take you through five sections:
Continue readingCOVID19: Furloughing period extended to 30 June 2020
The government have confirmed today that they are extending the period that employees can be furloughed to the end of June. The chancellor has also stated that this period could be extended further. If the lock down restrictions are lifted at the end of May this would allow some businesses to start trading by un-furloughing some staff whilst keeping others on furlough and have a couple of months of trading before salaries are to be met in full or other action taken. Alternatively, it may be an indication of the lock down period being extended once again.
Please also remember that the HMRC portal goes live on Monday
UK Tax Rates for 2020/2021
HB Accountants have produced a Tax Card which summarises many of the rates and allowances fundamental to your business and personal lives. We are sure that you will find it a useful point of reference throughout the coming tax year.
Continue readingCOVID19: URGENT update Job Retention Scheme qualifying date has changed
Change to qualifying start date for employees – The government have given further guidance on the Coronavirus Job Retention Scheme (JRS). The qualifying date, when the employee has to have been on the employer’s payroll, has changed from 28th February to 19th March 2020.
Continue readingCOVID19: Coronavirus Job Retention Scheme (CJRS) online portal opens for claims on 20 April 2020
HMRC announced plans this week to open the online Coronavirus Job Retention Scheme (CJRS) service on Monday 20 April – the first claims due to be paid 10 days later. File-only and payroll bureaus will be omitted from claiming.
Continue readingCOVID19: £750 million coronavirus funding for frontline charities announced
COVID19 Update: 9th April 2020 – Chancellor Rishi Sunak has announced that UK Charities are set to receive a support package worth £750 million to ensure they can continue their vital work throughout the coronavirus crisis.
Continue readingCOVID19: Financial help available for self-employed individuals – what you need to know
COVID19 Update: 7th April 2020 – We have outlined some clarifications for you regarding the financial help available if you are a self-employed individual – Self-Employment Income Support Scheme – here is what you need to know:
