And where something as new and substantial as the government crisis support is created, the fraudsters and scammers are already exploiting opportunities to try and steal key financial information from business owners and individual taxpayers. Scammers are not on furlough – they are working full time on trying to fraudulently part individuals and business owners […]
Roll Out of Self Employed Grants (SEISS)
The self-employed income support scheme (SEISS) will be open for applications from 13 May. We outlined the details of the scheme previously which awards contractors and consultants cash based on previous years trading profits. This week HMRC started to contact those who it believes are entitled to claim a cash grant, telling them to be […]
Inheritance tax – considerations during COVID-19
Coronavirus has many people reflecting on their own mortality. So if you have more time on your hands during the lockdown, planning your estate may be a wise way to spend it. Benjamin Franklin observed there are only two certainties in life: death and taxes, and nothing marries the two together quite like inheritance tax. […]
Working from home during COVID-19?
Details of how you can reclaim household expenses from the business. On Monday 16 March 2020, Prime Minister Boris Johnson told the public to work from home where possible in an attempt to contain the ongoing coronavirus outbreak in the UK. For more than 1.7 million people it was business as usual, as they already […]
Covid-19 Business News Briefing
With so much being announced every day you could be forgiven for switching off due to information overload. So to assist you to navigate your way in these uncertain times, here is a summary of news we feel may be relevant to you and your business. Prime Minister Boris Johnson sets out a timeline for […]
Furlough scheme set to be closed to new employees
Depending on your definition of success, the Coronavirus Job Retention Scheme has certainly been a success with around eight million workers furloughed so far, nearly a million businesses using the scheme, and with costs totalling around £80bn. However the Chancellor is set to announce this week that the UK government will soon bar companies from […]
Government support begins to taper off?
The Furlough scheme is changing and the support for the self employed will be extended for the final time. Below we detail all the latest Government support and guidance. FAQ’s on what we can and cannot do have also been updated over the weekend and there are also changes to childcare and free child minding […]
Tax on redundancy payments
In recent years – due to tax changes – it has become more expensive to make termination payments. With redundancies on the rise due to the coronavirus, is it time you understood how termination payments work in 2020? Beyond the human tragedy of COVID-19 is an economic one. Swathes of the UK economy have been […]
C19 Business News Update
The Government has outlined its recovery strategy as high streets reopen this week. Today face masks become compulsory on public transport in England. The Coronavirus job retention scheme rules (CJRS) are changing, and these are outlined below and other Government news. At the end of the newsletter are details of allowable expenses for home working. […]