Changes to the Coronavirus Job Retention Scheme from 1 August mean that employers will need to pay National Insurance (NI) and pension contributions for furloughed employees from their own resources as these will not be covered by future grants. Make sure you have the latest information by joining a live webinar: Extension to the Coronavirus […]
Small businesses depend on their established customer base, so the idea of raising prices can be scary; this causes SMEs to be caught in a cycle of undercharging for their product, which can lead to devastating effects. There are, however, several methods that will help minimise the potential damage of price structure changes. Distinguishing value […]
Unfortunately, at a time like this, Scams and Fraud are rife. Be aware of text messages, emails, telephone calls, etc that you are not expecting or are from a new source. Do not click on links and do not offer anyone your banking or personal information unless you are sure it is safe to do […]
Choose how and when you can delay making your second payment on account for the 2019 to 2020 tax year. You have the option to defer your second payment on account if you’re: registered in the UK for Self Assessment and finding it difficult to make your second payment on account by 31 July 2020 […]
The government’s Coronavirus Job Retention Scheme (CJRS) has so far helped protect more than 9.3 million jobs through the pandemic, with employers claiming more than £25.5 billion to support wages. The scheme will remain open until the end of October and will continue to support jobs and business in a measured way as people return […]
One of the most important ways to keep your business healthy is to ensure positive cash flow. Under normal circumstances, this is not a problem, but due to the Corona crisis, it has become harder for businesses to maintain positive cash flow. For this reason, we have listed 6 ways to make sure there’s more […]
The deferral of VAT payments due to coronavirus comes to an end on 30 June and businesses need to take action to reinstate their direct debit mandates. The Institute of Chartered accountants in England and Wales (ICAEW) Tax Faculty has reminded its members. The VAT payment deferral means that all UK VAT-registered businesses have the […]
HMRC have recognised that some taxpayers have encountered problems when trying to take advantage of some of the COVID-19 measures, and have announced details of the procedure for taxpayers who have paid their VAT returns in error (e.g. direct debit not cancelled) when they meant to defer the payment under the COVID-19 VAT deferral easement. […]
On Friday 29th May 2020, Rishi Sunak announced the changes that would be made to furlough leave and the CJRS (Coronavirus Job Retention Scheme). He explained that as from 1st July, there would be a more flexible approach to furlough, to allow for part-time work whilst still benefiting from the scheme. So, what are the […]
29 May: The Chancellor has announced a second and final grant to the self-employed who are eligible for the Self-employment Income Support Scheme (SEISS), based on 70% of earnings and capped at £6,570. HMRC has confirmed the same eligibility criteria will be used to establish self-employed individuals’ entitlement to a further SEISS grant; the grant […]