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Covid-19

Updates

Our Hub for all Updates on Covid-19

As an accountancy practice, we feel that it is our duty to keep people in the picture during this crisis. We will do our very best to keep a constant stream of information on Covid-19, what is happening, what you can do and what we can do to help.

April 2, 2020

Job Retention Scheme – Warning for Directors

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...
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March 26, 2020

Covid-19: Self Employed Announcement

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...
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March 26, 2020

Coronavirus: government launches online “isolation notes” service

Employees who are unable to work for more than seven days because of coronavirus (COVID-19) can now
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March 26, 2020

Acas publishes updated coronavirus resources

Acas has published updated guidance for employers and employees on the coronavirus (COVID-19). The
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March 25, 2020

Covid-19 and the Self Employed

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...
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March 25, 2020

Companies House deadlines and Coronavirus

There are automatic late filing penalties which are designed to encourage companies to file their
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March 25, 2020

Sick pay if you are unable to work

The government has announced a number of funding and support measures to help those affected by the
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March 24, 2020

Rates Grant Updates

👇🏼 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...
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March 23, 2020

Covid-19: Self-Employed and Freelancers

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...
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March 20, 2020

Covid-19: Closure of Public Spaces

COVID 19 Update: The Closure of Public Spaces The government have shown an intention to deal with Corona Virus within 3 months. With this, they have taken the following steps as of 12pm tonight – Shutting pubs, clubs, cafes, restaurants, gyms, leisure centres and shops was mentioned Takeaway services are to stay open They are...
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March 19, 2020

Update on proposed coronavirus-related SSP changes

Firstly, the Statutory Sick Pay (General) (Coronavirus Amendment) Regulations 2020 have amended the
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March 18, 2020

Covid-19: IR35 off-payroll

💰 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...
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March 17, 2020

Covid-19: Guaranteed Loans to Businesses

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...
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March 16, 2020

Covid-19: Tax Helpline

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 Helpline
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February 27, 2020

Coronavirus advice

Acas has published new guidance for employers and employees on the coronavirus. The guidance
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Individual

Personal financial planning, estate planning, and the inconvenience of filing your own taxes are common struggles people face when considering…

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Small/Medium Business

KP Simpson specialise in the preparation of business accounts. The small and medium sized business customers form the majority of the clients…

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Taxation

If the thought of filling in your own tax return fills you with dread, you’re not alone. Many people find it complicated and time-consuming...

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Financial Services

At KP Simpson we also deal with Capital Gains Tax. Capital Gains Tax is a tax on the profit when you sell (or ‘dispose of’) something (an ‘asset’)…

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