On 31 October 2020, the Prime Minister announced that England would go into a second lockdown with effect from 5 November 2020 for 4 weeks. There are various restrictions as with the previous lockdown. This article is to highlight the financial help for businesses. Coronavirus Job Retention Scheme This was due to finish at the …
The Job Support Scheme (JSS) was originally announced under the Winter Economy Plan on 24.9.20, although it has now changed. It will now open on 1 November 2020 and run for six months, until 30 April 2021. It also appears to be more generous than the original JSS. The government has said it will review …
In July 2020, the Chancellor announced the Job Retention Bonus. This is a £1,000 one-off taxable payment to employers, for each eligible employee that has been furloughed and kept continuously employed until 31 January 2021. You’ll be able to claim the bonus between 15 February 2021 and 31 March 2021. You do not have to …
Although the situation with Covid-19 may have been a huge distraction from Brexit, the UK transitional period finishes at the end of 2020. This may affect you as a private individual and/or as a business owner. It will particularly affect you if you import goods into the UK or export goods from the UK. Therefore, …
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 …