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Daily Archives: March 23, 2020

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Further update – Support for businesses

Personal financeBy Harrison Hill Castle & CoMarch 23, 2020

Coronavirus Job Retention Scheme HMRC will set up a new online portal so that ALL UK employers, regardless of size, will be eligible for assistance where an employee has been designated as a ‘furloughed worker.’ HMRC will reimburse 80% of furloughed workers wage costs, up to a cap of £2,500 per month. The current plan is that…

Support Available to Individuals

Payslips, Personal finance, Personal tax, Tax Relief, Tax YearBy Harrison Hill Castle & CoMarch 23, 2020

Income Tax The 2nd payment on account of tax that is due by 31 July 2020 will be deferred until 31 January 2021. Self-employed taxpayers are eligible for this deferment. There is no need to apply for this offer to apply. No penalties or interest for late payment will apply during this deferral period.   Statutory…

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