Borrowers of Bounce Back loans given more flexibility

Businesses that took out government-backed Bounce Back loans to get through the coronavirus (COVID-19) pandemic will now have greater flexibility to repay their loans, the government has announced. The Pay as You Grow repayment flexibilities now includes the option to delay all repayments for a further six months. This means businesses can choose to make Read more about Borrowers of Bounce Back loans given more flexibility[…]

Late payment penalties for Self Assessment waived until 1 April

HMRC has announced that Self Assessment taxpayers will not be charged a 5% late payment penalty if they pay their tax or set up a payment plan by 1 April. The payment deadline for Self Assessment was 31 January and interest is charged from 1 February on any amounts outstanding. Normally, a 5% late payment Read more about Late payment penalties for Self Assessment waived until 1 April[…]

Self-Employment Income Support Scheme – future grants confirmed

It was announced at yesterday’s budget that the Self-Employment Income Support Scheme (SEISS) will continue until September with a fourth and fifth grant. The fourth and fifth grants will take into account submitted 2019-20 tax returns. This means you may be able to claim, even if they were not eligible for previous grants. You must Read more about Self-Employment Income Support Scheme – future grants confirmed[…]

Extension to the Coronavirus Job Retention Scheme

It was announced in yesterdays budget that the Coronavirus Job Retention Scheme has been extended until the end of September 2021. The UK Government will continue to pay 80% of employees’ usual wages for the hours not worked, up to a cap of £2,500 per month, up to the end of June 2021. From July, Read more about Extension to the Coronavirus Job Retention Scheme[…]

Main points from the budget (3 March 2021)

Here are some of the key points from the budget of 3 March 2021: Furlough and Self-employed grant extended until September. Universal Credit uplift of £20 to be extended for a further 6 months. Incentive payments of £3,000 for all new hires of any age. Business rates holiday will be extended until June. National insurance, Read more about Main points from the budget (3 March 2021)[…]

VAT deferral new payment scheme – join from 23‌‌ February

If you deferred paying VAT due in the period from 20‌‌ March to 30‌‌ June‌‌ 2020, you should pay it by 31‌‌ ‌March‌‌ ‌2021 if you can. If you can’t afford to pay by 31‌‌ March‌‌ 2021, you can join the VAT deferral new payment scheme and pay your deferred VAT over a longer period. The online service will open Read more about VAT deferral new payment scheme – join from 23‌‌ February[…]

Flexible repayment options announced for Bounce Back Loan borrowers

If you have a Bounce Back Loan, the Chancellor has announced repayment flexibilities, with the ability to tailor payments according to your individual circumstances. Lenders should begin reaching out to borrowers to provide information on repayment schedules and how to access flexible repayment options. Small and medium-sized businesses can still apply to borrow between £2,000 and Read more about Flexible repayment options announced for Bounce Back Loan borrowers[…]

Frequently asked questions about Coronavirus Job Retention Scheme

You can find everything you need to know about the CJRS on GOV‌‌‌‌‌.UK by searching ‘Job Retention Scheme’, but here are some answers to the most frequently asked questions. What if I’ve claimed too much in error? If you have claimed too much CJRS grant and have not already repaid it, you must notify us Read more about Frequently asked questions about Coronavirus Job Retention Scheme[…]

New filing deadlines for Coronavirus Job Retention Scheme

To help you plan ahead to meet the monthly deadlines, here’s a list of the key dates you need to know, in order to file your Coronavirus Job Retention Scheme claim on time: 14‌‌ January‌‌ 2021 – final date to submit claims for December‌‌ 2020 by 11‌‌:59pm 15‌‌ February‌‌ 2021 – final date to submit claims for January‌‌ 2021 by 11‌‌:59pm 15‌‌ March‌‌ 2021 – final date to Read more about New filing deadlines for Coronavirus Job Retention Scheme[…]