Loading…

The changes to lock-down announced by the Prime Minister last week are summarised below. Most are effective from 4th July 2020. Pubs, restaurants and hairdressers will be able to reopen, providing they adhere to COVID Secure guidelines. From the same date, two households will be able to meet up in any setting with social distancing […]

Defer VAT payments. One of the government’s schemes to assist VAT registered businesses with their cashflow during the current COVID disruption was the deferral of VAT payments. The VAT payments that could be deferred cover payments due between 20 March 2020 and 30 June 2020. VAT traders that have taken advantage of this support will […]

Leaving salaries or dividends in your company Director/shareholders of small companies may be considering reducing their salaries and/or dividends during this uncertain period. Even if firms are managing to maintain profits or breakeven, prudence would suggest that until things improve we should do what ever we can to preserve cash reserves. Many directors have taken […]

Support for High Street The High Street Task Force has launched a range of support options for High Street traders in England. In a press release issued 12 June it was announced:   A package of support to help high streets to get back on their feet has been launched ahead of shops reopening from […]

The precautions taken by government to contain the COVID-19 outbreak, commonly known as lock-down, have created varying problem for UK businesses. As we ease our way out of lock-down many of us will have further issues to confront. This post considers some of those issues. According to the Office for National Statistics, economic activity in […]

Renters across England and Wales will receive greater protection after the government extended the suspension of new evictions until 23 August.   The Ministry of Housing published the following press release 5 June 2020: Millions of renters across England and Wales will receive greater protection after the government extended the suspension of new evictions until […]

HMRC released more information on the up-coming changes to the furlough scheme (CJRS) last week. A summary of two of the issues are set out below. Have you over-claimed? If you have made an error when making a claim under the CJRS and as a result you have received too much money, you must pay […]

A time-table has been announced for the re-opening of thousands of high street shops, department stores and shopping centres in England once they are COVID secure. The Prime Minister’s announcement published 25 May 2020 says: outdoor markets and car showrooms will be able to reopen from 1 June, as soon as they are able to […]

1 June 2020 – Due date for Corporation Tax due for the year ended 31 August 2019. 19 June 2020 – PAYE and NIC deductions due for month ended 5 June 2020. (If you pay your tax electronically the due date is 22 June 2020) 19 June 2020 – Filing deadline for the CIS300 monthly […]

Trade Credit Insurance provides cover to hundreds of thousands of business to business transactions, particularly in non-service sectors, such as manufacturing and construction. It covers suppliers selling goods against the company they are selling to, defaulting on payment and giving businesses the confidence to trade with one another. Due to Coronavirus and businesses struggling to […]

Government guidelines on this topic advise: The amount of pay that a worker receives for the holiday they take depends on the number of hours they work and how they are paid for those hours. The principle is that pay received by a worker while they are on holiday should reflect what they would have […]

On 12 May 2020, the Chancellor confirmed that this scheme will be extended until 31 October 2020. On the 29th May he confirmed the details of how the scheme would be changed to a flexible arrangement from 1 July 2020. Until 1 September 2020, claims for time not worked will continue to be based on […]

Since 13 May 2020, it has been possible to use online processes, accessed via the gov.uk website, to: Clarify if you are eligible to apply for the Self-Employed Income Support Scheme, and Lodge your claim. Payment should usually be in your bank account within 6 days. Are you eligible? By entering your unique tax reference […]

The Chancellor, Rishi Sunak, announced the following changes to the Self-Employed Income Support (SEISS) and Coronavirus Job Retention Schemes (CJRS) at the close of business last week. SEISS changes In response to lobbying by interested business groups this scheme has been extended for a final three-month period (June – August 2020). The amount being offered […]

HMRC advice for people choosing to give up their income to support their business or donate to charity during the coronavirus (COVID-19) pandemic has been published. Business owners who have decided to give-up their rights to receive dividends, salary or bonuses from their companies need to follow HMRC’s guidelines to be effective. To be effective […]

Coronavirus Update: Sick Pay Payments Launched This week, the formal process to claim back certain Statutory Sick Pay (SSP) payments is launched. From 26 May 2020, employers can register their claim using a new online process. Making a claim To use the online service, you will need the Government Gateway user ID you received when […]

Innovative businesses and start-ups are set to benefit from a £40 million government investment to drive forward new technological advances. It was announced 20 May 2020, that government is doubling investment in the Fast Start Competition with an additional £20 million. The competition aims to fast-track the development of innovations borne out of the coronavirus […]

The following guidelines have been released to cover social distancing concerns if working in offices or call centres. The objective being to maintain 2m social distancing whenever possible. The published guidelines are: You must maintain social distancing in the workplace wherever possible. Where the social distancing guidelines cannot be followed in full in relation to […]

Trade credit insurance guarantee Last week, the government announced that businesses with supply chains that rely on Trade Credit Insurance, and who are experiencing difficulties maintaining cover due to coronavirus disruption, will get support from government. In a news story released 13 May 2020, the Treasury said: Trade Credit Insurance provides cover to hundreds of […]