01224 208729 info@fyfemoirassociates.com First Floor, Arnhall Business Park, 5 Abercrombie Court, Prospect Rd, Westhill AB32 6FE

By

Alan Moir
What are changes announced? The Chancellor has announced an extension to the new Job Support Scheme for businesses required to close due to COVID restrictions. Cash grants for businesses required to close in local lockdowns.   When does the Job Support Scheme start? It starts on 1 November 2020 and is available for 6 months....
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We’ve recently applied updates to our App and need you to refresh your version please.  All you simply need to do is visit your App store and search for MyAccountants, then press the ‘update’ button beside it. Along with the great tools and features within our App, all designed to make your life and engagement with...
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The result of the case The Court of Appeal found in favour of HMRC that certain types of modified crew cab vehicles should not be classed as ‘vans’ for income tax and national insurance purposes but as cars instead. https://www.judiciary.uk/wp-content/uploads/2020/07/HMRC-v-Payne-Ors-Approved-Judgment-002.pdf What does the tax legislation say a van is? It is a goods vehicle and...
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Employers will receive funding of up to 100% of the National Minimum Wage from the Government for each employee (aged 16-24) covering a maximum of 25 hours a week. The Government will also cover the relevant employers National Insurance costs. The Government will also cover the relevant employer automatic enrolment pension scheme contributions. A business...
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Example 1 Tom Pope has worked for Askey Ltd for many years. He was not furloughed in March, April or May. If Askey Ltd want to furlough Tom and make a claim under CJRS plus be able to furlough him again from 1st July, then, Tom must have been furloughed on or before 10th June...
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Employers please be aware a number of changes will apply to the Coronavirus Job Retention Scheme (CJRS) from 1st July. Whilst there will be new flexibilities, there are also more complexities if you are to continue to qualify for the government grant.   The position up to 30th June Any eligible employee who had not...
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Example 1 Mary has been furloughed in April for 4 weeks but is working again. Her employer does not furlough Mary in June. The result: The employer can furlough Mary again, on and off, from 1st July and make a CJRS claim, as she has been furloughed in the past. Example 2 Joseph has been...
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The Self Employed Income Support Scheme (SEISS) Portal link Just in case you haven’t seen the Claim portal for the self-employed income support claim, please see the link below: https://www.gov.uk/guidance/claim-a-grant-through-the-self-employment-income-support-scheme We have been made aware that many self-employed individuals have been waiting to receive  their letters from HMRC which have not materialised. We emphasise to the...
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Bounce Back Loans – The BBLS Outline Businesses will be able to apply from 9am on Monday 4th Bounce Back loans for 25% of their turnover up to a maximum of £50,000. Minimum loan of £2,000. No forward-looking test on viability. Quick standard form to complete. No fees or interest to pay for the first...
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Government change of heart Previously – employees that were employed on or before 28th February 2020 and were on the PAYE payroll as at that date could be furloughed. Now – employers can make a furlough claim in respect of employees who were employed and were on the PAYE payroll on or before 19th March...
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At Fyfe Moir & Associates we work with forward thinking business owners to solve common business problems.

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