Further details on the Coronavirus Job Retention Scheme

Further details on the Coronavirus Job Retention Scheme Set out below are the rules as they are currently understood (summarised from notes provided by ICAEW), however it must be stressed that further guidance is awaited and therefore the following comments are provisional and may change. For sole director/shareholder owner-managed limited companies Not treated as self-employed…

IR35 Changes Deferred to 2021

HMRC has announced that the introduction of the new IR35 rules, that were to have come into effect in April, are to be deferred until April 2021. This means that medium sized companies, when making use of individuals paid through their personal service companies (PSC) (or umbrella company), will not now from April 2020 have…

Record Keeping

In the event of a HMRC enquiry into your affairs, the Inspector will expect to see supporting records for all entries.  In the absence of such records, HMRC will consider whether your SA Return or Accounts are accurate/complete. Additional tax, penalties & interest can result. We would therefore ask all clients to review the contents of the following links to the HMRC…