Businesses with supply chains which rely on Trade Credit Insurance and who are experiencing difficulties maintaining cover due to Coronavirus will get support from the government, the Economic Secretary to the Treasury, John Glen has announced. Trade Credit Insurance provides cover to hundreds of thousands of business to business transactions, particularly in non-service sectors, such […]
HMRC updated their guidance 4 May, and again on 13 May to outline the process for applying for SEISS. Full details: https://www.gov.uk/guidance/claim-a-grant-through-the-coronavirus-covid-19-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 […]
In a boost to millions of jobs and businesses, Rishi Sunak announced today (12 May) that the furlough scheme would be extended by a further four months with workers continuing to receive 80% of their current salary. “As we reopen the economy, we need to support people to get back to work. From the start […]
HMRC have updated their Guidance on the SEISS scheme. Please note, that Bryden Johnson will not be able to make a claim on your behalf. You must make the claim yourself. If you would like to discuss any aspects of your claim then please contact us. The following text is extracted from HMRC website: Who […]
4 MAY 2020 Apply For A Business Bounce Back Loan (BBBL) The Bounce Back Loan scheme helps small and medium-sized businesses to borrow between £2,000 and £50,000. The government guarantees 100% of the loan and there will not be any fees or interest to pay for the first 12 months. Loan terms will be up […]
The Chancellor, Rishi Sunak announced earlier this week that small businesses will be eligible for new loans from next week to borrow between £2000 and £50,000. The Bounce Bank Loan scheme will be open from Monday 4th May and will be backed by a government guarantee. For further information please see Gov.UK
The Government have issued full details and a guide to the Coronavirus Job Retention Scheme The step by step guide takes claimants through five sections: Step 1: Essential information Step 2: Before you make your claim Step 3: Calculating your claim Step 4: Making a claim Step 5: What to do next The full guide […]
A new CGT reporting and payment on account system was introduced for residential property disposals by UK resident taxpayers from 6 April 2020. The new system as originally announced required the disposal to be reported and any CGT on the disposal to be paid on account within 30 days of completion. HMRC have now announced […]
Date What’s Due 01/05 Corporation tax payment for year to 31/07/19 (unless quarterly instalments apply) 19/05 PAYE & NIC deductions, and CIS return and tax, for month to 5/05/20 (due 22/05 if you pay electronically) 01/06 Corporation tax payment for year to 31/08/19 (unless quarterly instalments apply) 19/06 PAYE & NIC […]
The latest Finance Bill includes important changes to private residence relief that took effect from 6 April 2020. The first change is to limit to just 9 months the period prior to disposal that counts as a period of deemed occupation and thus exempt from CGT even though the owners are not living in the […]
