UPDATED 5.1.21 – THE JOB RETENTION BONUS WAS WITHDRAWN IN NOVEMBER 2020, SEE HERE In July 2020, the Chancellor announced the Job Retention Bonus.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 …
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 …
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 …