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…
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…