Taxation of the Self-Employment Income Support Scheme Grant (SEISS)

Taxation of the Self-Employment Income Support Scheme Grant (SEISS) All SEISS amounts received will be subject to income tax and National Insurance contributions and will need to be included on your Tax Return. Croner Taxwise have released some notes providing further detail on this, which we should suggest that you have a read through: https://www.cronertaxwise.com/community/my-vip-tax-team-question-of-the-week-taxation-of-seiss-grants/…

Extension to the Coronavirus Job Retention Scheme (CJRS) and the Self-Employment Income Support Scheme (SEIS)

Extension to the Coronavirus Job Retention Scheme (CJRS) and the Self-Employment Income Support Scheme (SEIS) The following notes have been provided by HMRC: Extension to the Coronavirus Job Retention Scheme Today the Chancellor has announced that CJRS will be extended until the end of March‌‌‌ 2021 for all parts of the UK. For claim periods…

Overclaimed Furlough Grants and Fraud Penalties

Overclaimed Furlough Grants and Fraud Penalties Croner TaxWise have released the following notes regarding overclaimed furlough grants: The Government has explained that the following actions constitute an overclaimed furlough grant, and thus could lead to furlough fraud: any amount the employer was not entitled to receive; or any amount the employer is no longer entitled…