As you know, it was announced by the Government that small businesses who are in receipt of small business rate relief and rural relief will receive a £10,000 grant. If a business is eligible for this grant, you local authority will endeavour to contact businesses directly once further guidance from Government on how this will Read more about Grants for small businesses[…]
From today (25 March 2020), businesses will be able to apply for a 3-month extension for filing their accounts. This joint initiative between the government and Companies House will mean businesses can prioritise managing the impact of Coronavirus. There are approximately 4.3 million businesses on the Companies House register, and all companies must submit their Read more about Companies to receive 3-month extension period to file accounts during COVID-19[…]
What is Job Retention Scheme (JRS) The Coronavirus Job Retention Scheme allows all UK employers to access financial support to continue paying part of their employees salary that would otherwise have been laid off due to Covid-19. It prevents against layoffs and redundancies. What organisations are eligible? All UK companies are eligible: limited companies, sole Read more about Job Retention Scheme – Furloughed workers[…]
The Coronavirus Bill, currently going through parliament is set to pay self employed 80% of their net monthly earnings (average over the last three years) or £2,917, whichever is lower. Workers who have only recently become self-employed would have to prove a record of regular income to claim the cash – through receipts and banking Read more about Statutory self-employment pay[…]
Below is an email, we have just received from FSB and we wanted to share this with you, as we believe this is valuable information for everyone, not just members of the FSB. Hello This is clearly a very difficult time for all of us as small business owners, and I want to reassure you Read more about Coronavirus – An update from FSB’s National Chairman[…]
This post was last updated on 23 March 2020. The Chancellor has set out a package of temporary, timely and targeted measures to support public services, people and businesses through this period of disruption caused by COVID-19. This includes a package of measures to support businesses including: a Coronavirus Job Retention Scheme deferring VAT and Income Read more about Covid-19 – Support for Businesses and Self-Employed more detail[…]
The situation for Covid-19 is changing quickly, this information will help keep you up to date with current government advice and guidance, helping you quickly get to the facts. The information below was last updated on 20 March 2020. The Chancellor has set out a package of temporary, timely and targeted measures to support public services, Read more about Covid-19 – Support for Businesses and Self-Employed[…]
Such a simply question, you would think, however it produces a complicated answer. For this calculation, we have assumed the following: The director wants to preserves their entitlement to state benefits, and The director wants a salary which saves the most tax and national insurance. First of all let us look at preserving your entitlement Read more about As a director, what should I pay myself in 2020/21?[…]
The National Live in wage and the National Minimum Wages is set to rise in April 2020. Rates per hour depend on your age and whether you’re an apprentice – you must be at least school leaving age to get it. New rates, which come into effect from April 2020: Year 25 and over 21 Read more about National Minimum Wage and Live In Wage rates from April 2020[…]
Making Tax Digital for VAT came into force from 1 April 2019 for the majority of customers with a turnover above the VAT threshold. The first submission deadline (7 June 2019) and over 325,000 businesses have registered for the service and over 180,000 VAT submissions have been received by HMRC. HMRC are issuing reminder email Read more about Making Tax Digital for VAT update[…]