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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.

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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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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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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Acas publishes updated coronavirus resources

Acas has published updated guidance for employers and employees on the coronavirus (COVID-19). The
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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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Companies House deadlines and Coronavirus

There are automatic late filing penalties which are designed to encourage companies to file their
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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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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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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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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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Update on proposed coronavirus-related SSP changes

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

Acas has published new guidance for employers and employees on the coronavirus. The guidance
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COVID 19 update - hospitality industry

There are further grants being rolled out of up to £1,500 for businesses reopening in the hospitality industry to assist with getting the businesses ready for covid opening. This was announced by the Tees Local Authority yesterday, and it is being rolled out countrywide

Contact the local authority on how to apply

Good luck and hopefully you fill your boots come the 4th July
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COVID 19 Update

If you missed the latest announcement by Rishi Sunak today, he has made further announcements on both the furlough and self employment awards

Furlough -

The furlough scheme has been extended to October and it will not be extended further

However, amounts will be reduced from September with the amount paid in September at 70% which is capped at £2190 and then in October the amount will be reduced to 60% capped at £1875

A very good amendment to the scheme is from 1st July 2020, staff members can work part time and can be furloughed for the remaining period of their working week

Self employed award -

This has also been extended for another 3 months and their will be no further award paid after that

The award is now 70% average and is capped at £6570

He mentioned something regarding is to close to new entrants from 30th June - im not sure what this entails at this point, but will post when I know more
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Personal financial planning, estate planning, and the inconvenience of filing your own taxes are common struggles people face when considering…

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…


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...

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’)…