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

By

Alan Moir
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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Who can make a claim and what is the criteria? The self-employed (including members of LLPs/Partnerships). Must have been trading pre 2019/20 tax year. Must be continuing to trade or would be but for the coronavirus. Must be intending to trade in the 2020/21 tax year. Their trading profits must have been adversely affected by...
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The HMRC Capital Gains Tax Return Reporting Service is now here  General outline As you may be aware, following the Finance Act 2019, the new Capital Gains Tax Return Reporting regime came into being on 6th April 2020. UK resident taxpayers, including Trusts and Personal Representatives, who make taxable gains following a disposal of a...
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The JRS Portal The Government has announced that they are ready to launch the online portal on 20th April. The Access rules To access the portal and to make the claim it is of paramount importance that: A PAYE payroll scheme was created and set up on or before 28th February 2020 A UK bank...
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The Government has revamped the Business Interruption Loan scheme to make it more attractive to business owners. We wanted to let you know that the Coronavirus Business Interruption Loan (CBIL) Scheme has been revamped after it has come under considerable and deserved criticism. The Institute of Financial Accountants reported on 3 April that £90M of...
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There has been a further update on Saturday to the guidance surrounding this scheme. Apprentices can be furloughed. They can continue to be trained whilst furloughed. If training then the apprentice must be paid at least the Apprenticeship Minimum Wage/NMW or NLW during the training period. The difference between the 80% of the wage and...
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We received the following advice from our HR expert and thought it would be good to share with you. Employers need to: Decide which employees to designate as furloughed employees.  If 20 or more are affected at one establishment collective consultation may be required. Notify those employees of the intended change and commencement date. Agree...
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At Fyfe Moir & Associates we work with forward thinking business owners to solve common business problems.

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