Approximately 11 million self-assessment taxpayers will be able to benefit from a separate additional 12-month extension from HMRC on the “Time to Pay” self-service facility, meaning payments deferred from July 2020, and those due in January 2021, will now not need to be paid until January 2022.
Up to half a million businesses who deferred their VAT bills will be given more breathing space through the New Payment Scheme, which gives them the option to pay back in smaller instalments. Rather than paying a lump sum in full at the end March next year, they will be able to make 11 smaller […]
The reduction in VAT to 5% for the hospitality and tourism sector will be extended until 31 March 2021.
The existing self-employed grant (SEISS) will be extended on the same basis as the job support scheme. An initial taxable grant will be provided to those who are currently eligible for SEISS and are continuing to actively trade but face reduced demand due to coronavirus. The initial lump sum will cover three months’ worth of […]
On Thursday 24 September Chancellor Rishi Sunak announced a new job scheme starting 1 November 2020 to replace the current Job retention (“furlough”) scheme which ends 31 October 2020. All small and medium-sized businesses are eligible, larger businesses must show their turnover has fallen during the pandemic. Employers can use the new scheme even if […]
Join Loch Employment Law, part of the Loch Associates Group and Bryden Johnson Chartered Accountants for a webinar on ‘The New Normal’, and some things employers will have to consider post-Covid, from an employment law, HR and financial perspective. Alex Kiernan from Loch Employment Law will explain the latest on employment law changes, the furlough […]
Onboarding new team members can be difficult and time consuming at the best of times. Now businesses are learning how to onboard remote employees during lockdown and social distancing. The key to successfully integrating new team members who are working remotely is to offer a structured onboarding process. They may feel strange joining a company […]
From 1 July the new CJRS “Flexible furlough” grant scheme starts, which will allow employers to gradually bring their furloughed employees back to work part-time. The new scheme will be in place until the end of October and the Government will gradually reduce the amount of grant towards employees’ furlough pay to 70% in September […]
On 29 May the Chancellor announced that the grant scheme to support the self-employed would also be extended with a further payment based on 70% of average profits for the 3 years ended 2018/19, limited to £6,570 rather than £7,500. The eligibility criteria remain broadly the same as the first grant claim. Self-employed profits in […]
Following the news that the furlough scheme is to be extended until October, we’ve put together a guide covering some key issues relating to holiday pay, bank holidays and notice pay. Holiday pay Employees who have been placed on furlough continue to accrue statutory holiday entitlement and any additional holiday (bank holidays) provided under their […]
