Category: Coronavirus

New guidance launched to help get us safely back to work

New guidance launched to help get us safely back to work

The Government has published guidance for employers to help them get their businesses back up and running and workplaces operating safely. New ‘COVID-19 secure’ guidelines are available to UK employers to help them get their businesses back up and running and workplaces operating as safely as possible.

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Child sitting on swing

Impact on the high-income child benefit charge

With many employees and the self-employed being furloughed, being made redundant or making lower profits their income for 2020/21 may well fall below the £50,000 limit at which child benefit starts being taxed. The charge is 1% for every £100 that adjusted net income exceeds £50,000 multiplied by the child benefit claimed in respect of the children.

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British businesses are adapting to life under lockdown!

Some businesses will prosper during the Pandemic (e.g. those that are already online), and some will need to repurpose or “pivot” into new areas. Others will need to hibernate and regrettably some will not survive the Pandemic. Last week we talked about “Cocooning a business” and this week we focus on “pivoting or repurposing”, we have written a paper on this please follow the links if you wish to download.

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Details of the Self Employed Income Support Scheme

Details of the Self Employed Income Support Scheme

You can claim if you are a self-employed individual or a member of a partnership and you carry on a trade which has been adversely affected by coronavirus; you traded in the tax year 2018 to 2019 and submitted your Self-Assessment tax return on or before 23 April 2020 for that year and you traded in the tax year 2019 to 2020
you intend to continue to trade in the tax year 2020 to 2021

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Pivoting And Repurposing A Business flow chart

Factsheet: Pivoting and repurposing a business

Covid-19 has had a big impact on many SMEs in the UK. A recent study by the Office for National Statistics showed that nearly 40% of businesses in the UK had a substantially lower turnover. With the current level of disruption likely to remain for some time, many businesses are adapting their practices to continue trading in some form.

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Female-business owner working during Covid-19 pandemic

Coronavirus Bounce Back Loans for small business

In a statement to the Commons, Chancellor Rishi Sunak announced a new ‘bounce back’ small loan scheme for businesses affected by Covid-19. The Chancellor announced the launch of a new “micro loan” scheme providing a simple, quick easy solution for those in need of small loans, which he termed “bounce back loans”.

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