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.
Check if you can claim a Grant through the Self Employment Income Support Scheme
The scheme will allow you to claim a taxable grant of 80% of your average monthly trading profits, paid out in a single instalment covering 3 months, and capped at £7,500 altogether. You will get a taxable grant based on your average trading profit over the 3 tax years:
Opening a Government Gateway Account – Self Employed Income Support Claims
HMRC have issued some more details relating to the claims for the Self-Employed Income Support. The latest guidance was issued by HMRC on 1 May and information around this can be found here. As with many HMRC “guidance notes” issued recently, these tend to be quite basic, and, unfortunately, leave many questions unanswered.
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
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.
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”.
MOT’s due from 30 March 2020
Your car, van or motorcycle’s MOT expiry date will be extended by 6 months if it is due on or after 30 March 2020 – but you must keep your vehicle safe to drive. The Driver and Vehicle Licensing Agency (DVLA) has confirmed that MOT expiry dates will be extended by 6 months for all MOTs due on or after 30 March 2020.
How To Claim For Your Employees’ Wages Through The Coronavirus Job Retention Scheme (CJRS)
The Government recently provided more details on how the CJRS works. The online service is now live and opened on 20 April 2020. For a step by step guide to submitting your claim see here. We have the capability to calculate and submit your CJRS Claim so please let us know if we can help. […]
Coronavirus Job Retention Scheme: Step by Step Guide for Employers
The Government has issued its guide that the information that employers need to provide to claim for their employees’ wages. The portal to make the claim went live today 20 April 2020.
Self Employment Income Support Scheme (SEISS)
Help for the Self Employed Chancellor Rishi Sunak has announced measures to support the self-employed and partnerships. The Self-employment Income Support Scheme (SEISS) will support self-employed individuals (including members of partnerships) whose income has been negatively impacted by COVID-19. The scheme will provide a grant to self-employed individuals or partnerships, worth 80% of their profits […]
