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 […]
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. […]
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 […]
Protect yourself from Coronavirus Scams
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 […]
Bounce Back Loan Scheme is Live
On the back of widespread concern about the lack of availability of loans under the Coronavirus Business Interruption Loan Scheme the government has introduced a new scheme aimed at smaller businesses. The loan scheme is now available via banks and here’s a summary of what we know so far… Key Features Apply for a loan […]
How will HMRC deal with ‘Furlough Fraud’?
The Government and HMRC are very concerned about fraudulent Coronavirus Job Retention Scheme claims, despite the rules and system having been designed to safeguard against this as far as possible. Simply because of the large sums being made available, the scheme is likely to attract criminal fraud, as well as abuse by some genuine employers […]
Government pledges £1bn to support startups
This morning the Chancellor announced a billion-pound rescue package for startups struggling to cope amid the coronavirus pandemic. This news will be welcomed by innovative, high-growth businesses across the UK. The UK government said that £750m of support for R&D intensive small and medium-size companies will be available through Innovate UK’s grants and loan scheme. […]