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Covid-19 Updates

Self-Employment Income Support Scheme (update – 12 June 2020)

This scheme is being extended, and you’ll be able to claim a second and final grant in August 2020. HMRC will work out your eligibility the same way as the first grant. If you make a claim for the second grant you will have to confirm your business has been adversely affected on or after 14 July…Read More

Changes to the Coronavirus Job Retention Scheme (12 June 2020)

The government announced further details of the changes that were previously announced to the job retention scheme. These changes were announced with a view to coincide with the relation of the lockdown rules and to enable employers to bring back employers gradually in line with this. It also has the effect of reducing the financial…Read More

Covid-19: delay to VAT reverse charge on construction services

  HMRC has announced a five-month delay to the introduction of the domestic reverse charge for construction services, due to the impact of the coronavirus pandemic on the construction sector, and the VAT change will not now apply until 1 March 2021

Furloughing – The next stage (29 May 2020)

On 29 May 2020 the Chancellor outlined further details on the extension of the Coronavirus Job Retention Scheme, including improved flexibility to bring furloughed employees back part time in July, and a new taper requiring employers to contribute modestly to furloughed salaries from August From 1 July 2020, businesses will be given the flexibility to bring…Read More

Universal Credit – You may be eligible (29 May 2020)

With the ongoing Coronavirus crisis if you have lost income then you may be entitled to Universal Credit. Universal Credit is a monthly payment to help with your living costs. You may be able to get it if you’re on a low income, out of work or you cannot work. Everyone claiming Universal Credit needs…Read More

Self-Employment Income Support Scheme – Extension (29 May 2020)

This scheme is being extended. You’ll be able to make a claim for a second and final grant in August 2020. The online service for the second and final grant is not available yet. We will update this guidance to let you know when you can make your claim. If you’re eligible the second and…Read More

Self-Employment Income Support Scheme Update (5 May 2020)

The SEISS is going to open earlier than expected. From this week, people will be able to use a new online eligibility checker. If the checker confirms that they are eligible (and they qualify due to being affected by coronavirus and because they intend to continue trading), they will be given a date when they…Read More

Self-Employment Income Support Scheme Update (4 May 2020)

It has been announced that HMRC will start contacting people who are eligible for this support this week. Those who are eligible will be able to make a claim for a taxable grant worth 80% of their trading profits (for three months) to a maximum of £7,500. The process should, according to HMRC, be quick…Read More

Coronavirus Bounce Back Loan (4 May 2020)

The Bounce Back Loan application process is now open. As of 9 o’clock this morning businesses could start applying for this loan. Further details of the loan can be found on the British Business Bank’s website: https://www.british-business-bank.co.uk/ Having spent some time looking at this today the application needs to be made online by the business…Read More

Coronavirus Bounce Back Loan

If your small to medium-sized business (SME) is affected by coronavirus, you may be able to borrow between £2,000 and £50,000 through a Bounce Back Loan scheme. The government will guarantee 100% of the loan and for the first 12 months you will not have to pay any fees or interest, or make repayments. The…Read More

Coronavirus Job Retention Scheme (20 April 2020)

The HMRC portal is now open. The link to make the claim is as follows: https://www.gov.uk/guidance/claim-for-wages-through-the-coronavirus-job-retention-scheme The HMRC calculator, which can for now only deal with fixed salaries only, for the amount you can claim can be found at the following link: https://www.gov.uk/guidance/work-out-80-of-your-employees-wages-to-claim-through-the-coronavirus-job-retention-scheme Their latest guidance on making the claim can be found via the…Read More

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