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...Read More
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...Read More
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...Read More
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...Read More
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...Read More
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...Read More
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...Read More
Local Authorities have now set up a very simple and straightforward application process, allowing business to tap into Business Support Fund of either £10 000 or £25 000 depends on the criteria. The aim of this intervention tool is to help to ease off the strains COVID 19 have caused on your Cash Flow over...Read More
The following is the current information we have hopefully much more detail will follow from the Government Coronavirus Job Retention Scheme Employers may claim a grant of up to 80% of salaries of employees who have been laid off during this crisis. This is subject to a cap of £2,500 per month. Employers must designate...Read More
We attach a link to Government guidance to payroll support, etc. We hope to distil it further as hopefully there is going to be more guidance later today. https://www.gov.uk/government/publications/guidance-to-employers-and-businesses-about-covid-19/covid-19-support-for-businesses Stay safe. 23 March 2020”Read More
