HMRC have confirmed that limited company Directors can be furloughed as they are an employee on PAYE. While on furlough, the Director can perform statutory duties to maintain the daily upkeep of the business, including legal filings and record keeping, eg. preparing VAT returns, preparing annual accounts and updating general records. The Director CANNOT be...Read More
COVID 19: Self Employed Announcement – guidance has now been released The scheme will be open to those with a trading profit of less than £50,000 in 2018-19 or an average trading profit of less than £50,000 from 2016-17, 2017-18 and 2018-19. To qualify, more than half of their income in these periods must come...Read More
COVID 19 update BBC News are reporting that the announcement to help the self-employed will be broadcast and passed tomorrow (26/03/2020). The government have said it is a lot harder to make sure the self-employed are getting the right help, as opposed to employed. Reports state that the awards will be as we mentioned earlier...Read More
👇🏼 COVID-19 UPDATE 👇🏼 If your rateable value is under £51k, and even if you don’t pay rates, but are listed as the rates payer, then the local authority will issue the Rates Grant in early April and there is no need to apply. With regards to the staff pay, if your staff are unable...Read More
COVID 19 update Whilst it has not been announced yet, and details have not yet emerged, a parliamentary document has been made available giving rise to what they are planning for the self-employed and freelancers (definition of freelancers not mentioned). The secretary of state must by regulations introduce a scheme of statutory self-employment pay: The...Read More
👇🏼 Covid-19: Business grant update 👇🏼 This is the updated guidance of when businesses will receive the rates grant and how: 💸There will be a £10,000 cash grant to our smallest businesses, delivered by local authorities. 💸Small businesses that pay little or no business rates and are eligible for small business rate relief (SBBR), or...Read More
💰 Covid:19 and TAX UPDATE 💰 IR35 off-payroll working has been delayed for a year due to the Corona Virus. This will give contractors a further year to work through their own Ltd companies and plan for the new rules on 6th April 2021. If you need any help or advice, please contact us, our...Read More
Covid-19 Update: Business Loans Today, the Government has announced they will offer guaranteed loans to businesses on attractive terms to the tune of £330bn and this could well be increased. No interest will be payable for the first 6 months of the loan on amounts up to £5m. With regards to the hospitality industry, businesses...Read More
Covid-19 Updates: Tax Helpline As announced in the 2020 Budget, HMRC have opened a new helpline to support businesses concerned about paying their tax due to coronavirus (COVID-19). The helpline can be accessed on 0800 0159 559. Tax HelplineRead More
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