(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 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 »
Find out about the Government’s new “Fix Your Bike” initiative, which aims to get the country cycling! What is it? The Government is handing out thousands of £50 vouchers for people to get their bikes fixed. The hope is that this will boost the retail sector and get cash flowing again, as well as improving… Read more »
Find out how the Governments Eat Out to Help Out scheme can save you money on your next meal out. What is it? This is the new Government scheme where you can get a 50% discount between Monday and Wednesday each week. These discounts are capped at £10 per person each time. However, there is… Read more »
Find out about the Government’s amnesty for Furlough rule breakers. What are the furlough rules? If an employee is furloughed then they cannot undertake remunerative work for the employer. This means that they cannot do any work for that employer, or a company linked to that employer. However, they can take part in training, they… Read more »
