Extension of the Coronavirus Job Retention Scheme and the Self-Employment Income Support HMRC have released the following notes regarding to the two schemes: Coronavirus Job Retention Scheme The Coronavirus Job Retention Scheme (CJRS), which was due to end on 31 October, will now be extended, with the UK government paying 80% of wages for the…
Job Support Scheme (JSS) Further clarifications were made to the scheme on 22nd October 2020. Now, the Government will be able to help businesses who are suffering from a business downturn due to coronavirus restrictions, or if they have been told to close temporarily. It has been separated into two provisions: JSS (Open) and JSS…
Job Retention Bonus HMRC have issued some further guidance regarding the Job Retention Bonus. The Job Retention Bonus is a £1,000 one-off taxable payment to you (the employer), for each eligible employee that you furloughed and kept continuously employed until 31 January 2021. You’ll be able to claim the bonus between 15 February 2021 and…
Deferred VAT due between 20 March and 30 June – Further Information It has recently been announced that businesses who deferred VAT due from 20 March to 30 June 2020 will now have the option to pay in smaller payments over a longer period. Instead of paying the full amount by the end of March…
Exemption for Reimbursed Home Office Equipment The government is introducing a year-long exemption that means employers will not have to pay tax or national insurance contributions (NIC) on reimbursement of staff expenses for home office equipment purchased to enable them to work from home during the COVID-19 crisis. In a written statement , Jesse Norman, The Financial…
Procedures for a company that has ceased to trade If your company has ceased to trade, you can apply to get it struck off the Companies House Register if the following conditions are met by the company: It has not traded or sold off any stock in the last 3 months It has not changed…