(1 Minute Read) Plans for a new loan scheme for small businesses up to £10m… What is it? A new taxpayer-funded loan scheme is being drawn up by the Treasury. The new scheme will be aimed at increasing small business lending to help recovery from the pandemic. The new scheme is set to replace the… Read more »
(2 Minute Read) Furlough claims over the Christmas holidays… Can I use furlough for holiday leave? Furlough, or the Coronavirus Job Retention Scheme (CJRS), can only be used if an employer can’t keep their normal workforce because of Covid-19. You can’t furlough an employee just for their holidays. However, if an employee is flexibly furloughed… Read more »
(4 Minute Read) Here are the concessions HMRC has made during COVID-19. Self-Assessment Tax Returns for the 2018/2019 year which are filed more than three months late will not be subject to daily penalties, however, all other filing penalties will be charged, unless you can show a reasonable excuse. If the 2018/2019 Tax Return was… Read more »
(2 Minute Read) Find out about HMRC’s changes to Private Residence Relief. What’s changing? Until 5th April 2020, where a home was transferred between spouses, the recipient inherited the spouse’s ownership history, but only as long as the property was the transferring spouse’s only or main residence at the time of transfer. This would mean… Read more »
(2 Minute Read) Find out how you can still have your office party at the taxman’s Expense! What are the normal rules? The event must be primarily for entertaining staff and must be open to all staff. If you have multiple locations it must be open to all staff in that location. The total cost… Read more »
(4 Minute Read) Claim your fair share before it’s too late! Employers and Employees A. Working From Home Working from home. Employees may have to work from home due to the Coronavirus. Any additional costs which arise because of this can either be reimbursed by the employer, or tax relief can be claimed directly from… Read more »
Find out about the expanded Coronavirus help. Job Support Scheme Changes The Chancellor has recently announced an expansion to the help that businesses can claim under the Job Support Scheme. The announcement stated that when a business is forced to close due to local or national restrictions, the Government will pay 67% of the employees’… Read more »
Find out about the cash grant for businesses affected by local lockdowns. What is it? The government has announced several local lockdowns, during which some businesses have to close their doors. To help these businesses, and to protect jobs, the Government has announced a new cash grant. You will only be eligible for this grant… Read more »
Find out about the Chancellor’s new Job Support Scheme. What is it? Although the furlough scheme is coming to an end on the 31st of October 2020, the Chancellor has announced the new job support scheme, which will run from the 1st November for 6 months. This will help to pay the wages of workers… Read more »
Find out about the Government’s Kickstart Scheme for Under 25s What is it? The Government’s Kickstart Scheme has opened for applicants, but what is it? It has been created by the Government to help young unemployed people. The Government will provide funds to cover a six month job placement for people who are 16-24 years… Read more »
