One step forward03-06-20
The recent news that the lockdown is being eased for certain businesses is good news. Unfortunately, there are many other businesses that are still closed and unable to trade. And there is always a background risk that any relaxation of the lockdown… Read more..
Recent statistics published by HM Treasury confirm that £22bn of Bounce-Back Loans have been taken up by 700,000 small businesses across the UK. That is an average loan of approximately £31,000 per business. As these loans are limited to… Read more..
Self-Employed and Job Retention Scheme changes31-05-20
On Friday afternoon, in the Government's daily news briefing, the Chancellor outlined how the Coronavirus Job Retention Scheme will operate moving forward to allow for employees to return to work part time. Following that announcement,… Read more..
Additional funding for charities and social enterprise27-05-20
The government's dormant assets scheme allows money in accounts that have been dormant for at least 15 years to be made available for certain qualifying charitable and community causes. The Culture Secretary, Oliver Dowden has announced that… Read more..
Further support for charities from VAT receipts27-05-20
It has been revealed by HM Treasury that the VAT collected on donated personal protective equipment (PPE) will be given to charities supporting the NHS and care workers. This measure will apply to all the VAT collected on donations made from 1 March… Read more..
Apply for NIC Childcare Credits27-05-20
National Insurance credits can help qualifying applicants to fill gaps in their National Insurance record. This can assist taxpayers to build up the amount of qualifying years of National Insurance contributions which can increase the amount of… Read more..
Reimbursing expenses for home office equipment27-05-20
HMRC has updated its guide for employers who have employees working from home due to the COVID-19 outbreak. This could be a result of the workplace being closed or because employees are following government advice to self-isolate. The updated… Read more..
Employee car ownership schemes27-05-20
An Employee Car Ownership Scheme (ECOS) is a set of arrangements whereby employees acquire cars from a specified, often single source and within a specified financing framework. The use of an ECOS can effectively be seen as a halfway measure between… Read more..
New HM Treasury instructions re CJRS27-05-20
The Chancellor, Rishi Sunak has made a further Treasury Direction under sections 71 and 76 of the Coronavirus Act 2020 concerning the Coronavirus Job Retention Scheme (CJRS). The CJRS currently helps employers furlough their employees with… Read more..
Estate Agents who may be exempt from Money Laundering registration27-05-20
HMRC is responsible for the money laundering supervision of a number of businesses including estate and lettings agents. Estate agency businesses that HMRC is responsible for supervising should be aware of the requirement to register with HMRC and… Read more..
Rules on waiving income or donating to charities27-05-20
HMRC has published a new press release that provides some advice for people choosing to give up their income to support their business or donate to charity during the Coronavirus (COVID-19) pandemic. Employers, directors and employees have several… Read more..
New advisory fuel rates published27-05-20
Advisory fuel rates are intended to reflect actual average fuel costs and are updated quarterly. The rates can be used by employers who reimburse employees for business travel in their company cars or where employees are required to repay the cost of… Read more..
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