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 […]
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 […]
Like the CJRS scheme for employers the initial HMRC guidance on the grant scheme to support the self-employed and members in partnerships was also very sketchy. In outline the Self-Employed Income Support Scheme (SEISS) allows the self-employed to claim 80% of their average profits for the period up to 2018/19 limited to £2,500 a month, […]
