HR Support As part of our service from Croner Taxwise, all clients who have opted to take out the insurance cover against professional fees incurred in the event of any HM Revenue & Customs enquiries receive telephone access to expert HR support. This service has been extended to include a dedicated Coronavirus team to guide…
SELF-EMPLOYED INCOME SUPPORT SCHEME The Chancellor has now announced the help that the Government will provide to the self-employed. The scheme will allow some self-employed clients to claim a taxable grant, initially for the next 3 months, but may be extended. You will qualify if you’re a self-employed individual, or a member of a partnership…
UPDATE ON VAT & INCOME TAX DEFERRAL Based on the briefing from ICAEW, we have updated the notes. VAT The deferral for VAT payments applies from 20 March 2020 until 30 June 2020. All VAT registered traders are eligible. This will generally mean the deferral of one quarter’s VAT, therefore quarterly payments that would have been…
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…
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…
HMRC has updated their notes on support available to business. The notes provide some further detail, but as you will see HMRC are still to announce exactly how / when certain of the provisions are to come into effect. HMRC support for employers & business We will be reviewing future notices as they arise and…