The Job Support Scheme(JSS) which was due to start on 1 November will now be delayed as the Prime Minister has announced a one-month extension to the CJRS to ensure furloughed employees continue to receive 80% of their wages. The extended CJRS puts the level of support back up to August, when the government was […]
The existing furlough scheme (CJRS) will end in a matter of days, and will be replaced on 1st November by the Job Support Scheme (JSS) which will run until 30 April 2021. This will work differently depending on whether a business is open or closed. A business that is open but experiencing reduced demand due […]
Chancellor Rishi Sunak has announced further measures to support businesses covering three main areas: The new Job Support Scheme means that for six months from 1 November the Government will top up the wages of those workers on reduced hours. Employees must work at least 33% of their regular hours, for the remaining hours not […]
The Covid-19 outbreak has had a huge impact on the economy, and in many cases has caused business owners to fall into a loss position. As a result, HMRC have now acknowledged that, in exceptional circumstances, claims for repayments of corporation tax for prior periods based on anticipated losses before the current accounting period has […]
Just to remind you that from 1 September the CJRS will pay 70% of usual wages up to a cap of £2,187.50 per month for the hours furloughed employees do not work. Employers will still need to pay furloughed employees 80% of their usual wages for the hours they do not work, up to a […]
The second and final round of grants under the self-employed income support scheme (SEISS) open this month, offering a smaller lump sum grant. From 17 August 2020, self-employed individuals who meet the scheme requirements will be able to access HMRC’s online service and claim up to £6,570 to cover three months’ of profits. The lump […]
The Treasury has announced that it plans to expand the Making Tax Digital (MTD) reporting regime to all VAT-registered businesses from April 2022. At present, it only applies to those with a taxable turnover of £85,000 and above. From 2023, it will also extend to cover income tax reporting for all unincorporated businesses and landlords […]
Today the Chancellor delivered a summer statement in the Commons presenting a financial package to support young people, help the housing market and improve the country’s struggling hospitality sector. Key points included: A job retention bonus, whereby businesses will be paid £1,000 for every eligible furloughed employee they bring back to work. A kickstart job […]
HM Revenue & Customs (HMRC) updated its guidance on the Coronavirus Job Retention Scheme (CJRS) to include details on how the scheme will change from 1 July to include flexible working For June and July, the Government will pay 80% of wages up to a cap of £2,500 for the hours the employee is on […]
The Chancellor has announced plans to end the Furlough scheme on 31 October 2020, with Government contribution levels gradually reducing from 1 August. From 1 July 2020, businesses will be given the flexibility to bring furloughed employees back part time – this is a month earlier than previously announced. Employers will be able to decide […]
