On 24 September 2020, the Chancellor Rishi Sunak unveiled the Winter Economy Plan, a number of measures designed to help businesses still struggling with the effects of Covid-19. It appears that they not as generous as the help provided in March and April 2020 (principally the Self Employment Income Support Scheme – SEISS – and …
On 29 May the Chancellor, Rishi Sunak, announced more details about the extension to the Coronavirus Job Retention Scheme (CJRS), with the key details outlined below. Flexible furloughing From 1 July 2020, you’ll have the flexibility to bring previously furloughed employees back to work part-time. The government will continue to pay 80% of wages for any …
On Friday 29 May 2020, the Chancellor announced plans to extend the Self-Employment Income Support Scheme (SEISS) for those people whose trade continues to be, or is newly, adversely affected by the Coronavirus (COVID-19). Eligible self-employed people will be able to claim a second and final SEISS grant in August; this will be a taxable …
Post dated 5 May 2020 If you are self employed, you could benefit from the Self Employment Income Support Scheme (SEISS), which is the Government support for those sole traders and partnerships affected by the Coronavirus pandemic. HM Revenue and Customs (HMRC) have been refining the advice and support in respect of the SEISS, so …
In response to the difficulties encountered through the Business Interruption Loan Scheme, the Chancellor announced a new loan scheme – The Bounce Back Loan Scheme (BBLS) – for smaller businesses that will benefit from a 100% government-backed guarantee. The Bounce Back Loan Scheme helps small and medium-sized businesses to borrow between £2,000 and £50,000. The …
If you are an employer, you may be affected by the changes to the National Living Wage (NLW). These come into effect from 1 April 2020. The hourly rate for the minimum wage depends upon an employee’s age and whether they’re an apprentice. Firstly, The main rate for employees 25 and over is increasing from …
Written 5 April 2020 We’ve been asked a lot of questions about the support packages announced by the Government for small businesses over the last few weeks. An important aspect of this was the Coronavirus Job Retention Scheme (CJRS), and in particular the process known as furloughing. This is effectively where a business has no …
The Chancellor announced the latest support for small businesses on Thursday 26th March 2020, in the form of the Self Employment Income Support Scheme. This is aimed at people who are self employed, and importantly were self employed before the beginning of the current tax year. It is aimed at levelling the position of the …
Further to our recent blog about how we are responding to the Coronavirus (Covid-19) pandemic, and in view of the lock down announced yesterday (23rd March 2020), we have the following update: At GBM Accounts, we are still working. All of our employees are now working from home. At the moment, face to face meetings …
The Coronavirus (Covid-19) pandemic is having a profound and unprecedented effect on all aspects of our lives. The situation seems to be changing on a daily basis. In respect of how this affects small businesses, since the Budget on 11th March, there have been further announcements in respect of assistance. There were a raft of …