Background to the new Job Support Schemes As you probably remember, the initial wage subsidy offered by the Government to employees was called the Furlough Scheme. This scheme comes to an end at the end of October and claims for October need to be submitted to HMRC no later than 30/11/20. On 24 September the […]
Find out moreThe Job Support Scheme aims to protect jobs by topping up the wages of staff that are employed on a part-time basis.
Find out moreThe rules on the Job Retention Scheme are changing The aim of this note is to provide you with an update on the UK Job Retention Scheme and follows various announcements and changes made by the UK Government. The rules that are planned to operate each month are, in summary as follows. Job Retention Scheme […]
Find out moreBackground to the Bounce Back Loan The UK Government has announced that a new loan will be available from today to help small businesses. Details of the loan, called a ‘Bounce Back Loan’ can be found on the following web-site: https://www.gov.uk/guidance/apply-for-a-coronavirus-bounce-back-loan. Bounce Back Loan – summary In summary, the loan: is aimed at helping small and […]
Find out moreTwo reasons why we don’t think a sole director can be furloughed The question that I am trying to address here is if a sole director can furlough himself or herself In summary, there are two reasons why I don’t think that this is allowed under the current rules: Reason 1: A company must always […]
Find out moreTaxable grant of 80% of average monthly profits, up to a maximum of £2,500/month The UK Government announced today a grant to help self-employed to help them cope with the financial impact of Coronavirus. The Coronavirus Self-Employment Income Support Scheme, as it is called, is worth 80% of the self-employed persons average monthly profits over […]
Find out moreDeadline for filing accounts with Companies House delayed by 3 months The UK Government has announced that from today (25/03/20) businesses can apply for a 3-month extension for filing their accounts. The Government says: “As part of the agreed measures, while companies will still have to apply for the 3-month extension to be granted, those […]
Find out moreThis post summarises the webinar that we held earlier today (25/03/20, 9:30am UK Time) regarding the aid that is available to small businesses and the actions we suggest that you take. As I noted before, we would like to offer these services to our clients free of charge. However, like everyone else we need to […]
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