Why you might need to reduce your second payment on account Many people will have deferred their personal tax second payment on account because of COVID and wont now need to make the payment (initially due 31/7/20) to 31/1/21. However, because of reduced income, it may be that the size of this second payment account […]
Find out moreBackground to the new Job Support Schemes As you probably remember, the initial wage subsidy offered by the Government to employees was called the Furlough Scheme. This scheme comes to an end at the end of October and claims for October need to be submitted to HMRC no later than 30/11/20. On 24 September the […]
Find out moreThe Job Support Scheme aims to protect jobs by topping up the wages of staff that are employed on a part-time basis.
Find out moreThe rules on the Job Retention Scheme are changing The aim of this note is to provide you with an update on the UK Job Retention Scheme and follows various announcements and changes made by the UK Government. The rules that are planned to operate each month are, in summary as follows. Job Retention Scheme […]
Find out moreBackground to the Bounce Back Loan The UK Government has announced that a new loan will be available from today to help small businesses. Details of the loan, called a ‘Bounce Back Loan’ can be found on the following web-site: https://www.gov.uk/guidance/apply-for-a-coronavirus-bounce-back-loan. Bounce Back Loan – summary In summary, the loan: is aimed at helping small and […]
Find out moreTwo reasons why we don’t think a sole director can be furloughed The question that I am trying to address here is if a sole director can furlough himself or herself In summary, there are two reasons why I don’t think that this is allowed under the current rules: Reason 1: A company must always […]
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