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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 […]

Business Support Fund

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 […]

Coronavirus Job Retention Scheme

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 […]

Government Guidance

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”

COVID-19: Government Support Tracker

The Coronavirus Bill is passing through parliament today (19th March 2020). Measures announced so far, by the government to support individuals and businesses, as we get through COVID-19, are summarised below.   At a glance Announcements cover the following topics: IR35 & off-payroll working Statutory Sick Pay (SSP) IR35: off-payroll working & SSP Self-employed and […]

Coronavirus Present Understanding

For modern times we are in unprecedented waters. No-one knows just exactly what we are all in for over the next few months. However, we do have financial information we can impart, which we highlight below. Fyfe Moir & Associates will be operational, irrespective of lockdowns, office closures or anything else which may be ahead […]

Cash is King

Who would have thought at the beginning of this New Year a virus and a dispute between two authoritarian countries over oil could bring the World economy into sharp focus? Coronavirus, there’s an addition to the dictionary, has struck. We are not at all medical and cannot comment on its medical effect, but it has […]

Loan Charges

Loan Charges The following is an extract taken from a letter received by a client and which will relate to many contractors who were involved in what is commonly called “Loan Charges”. There are no details which can identify our client and the client is happy for us to reproduce this information.   Changes to […]

Changes in the tax system as it affects Personal Landlords

There have been a number of changes to the tax rules applying to residential property in recent years. The first significant “attack” on residential landlord’s in recent times was the restriction on tax relief for those Landlord’s who had borrowings relating to their residential property business. This affects only individuals and partners, not limited liability […]

Trivial Benefits

There are exemptions for some trivial benefits given to an employee and to a limited extent a director of a close company. A trivial benefit is one that: Costs £50 or less (including VAT); If it is a voucher, it cannot be convertible into cash; Isn’t a reward for service or in any way contractual; […]