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19 OCTOBER 2020 - Deadline Self Employed Grant

Self Employed – Income Support Scheme Grant Like a football transfer window, the claim period for the 2nd self employed grant slams shut on 19th October 2020, and this window will not reopen. If you have not claimed, you will not be able to claim that particular grant at a later stage. You can claim even if you did not claim the first grant....

WINTER ECONOMY PLAN

The winter economy plan announced by the Chancellor covers 5 areas of support Payroll through shorter term hours – the Job Support Scheme (JSS)Extension to the self-employed income support scheme (SEISS)VAT reduction extension for the hospitality and tourism sectorExtension to loan finance (BBLS CBILS) applications deadlineMeasures to assist cashflow by making it possible to extend the time to repay deferred vat and self-employed taxes and repay loans. ...

REDUCED RATE 5% VAT FOR HOSPITALITY SECTOR

Guidance has been issued by HMRC on the temporary 5% reduced rate of VAT to support the hospitality sector. The rate cut applies to specific supplies of hospitality, hotel and holiday accommodation and admission to certain attractions. The temporary 5% reduced rate is effective  from 15 July 2020 to 12 January 2021 and applies to the following supplies: food and non-alcoholic beverages sold for on-premises consumption, such as  in restaurants, cafes and pubs;hot takeaway food;hot ...

Coronavirus Job Retention Scheme CJRS V2

The new Coronavirus Job Retention Scheme (CJRS V2) starts from 1 July 2020 it is only available for employers that previously used the original schemeit is only available only for those employees that have previously been furloughedeach claim is limited to the maximum number of employees claimed for in a single claim under the original schemethe amount the Government contributes is gradually being reduced (see table)the employee continues to receive a minimum of 80% of his/her salary throughoute...

Bounce Back Loan Scheme

The Chancellor announced a new loan guarantee scheme. Further details will be announced in the coming days, but what we know are; Businesses can apply for a loan between £2,000 and £50,000 limited to 25% of turnover The government pays the interest for the first 12 months The government guarantees 100% of the loan Scheme opens 9am on Monday 4 May 2020 There will be a two page standard application form Most loans will be paid within 24 hours of approval Loan term can be up to 6 years No repaym...

Coronavirus Job Retention Scheme

We have set out below the more important features of the coronavirus job retention scheme, which includes information on how to calculate wages, and what information is needed to make a claim. Claims cannot be made more often than every three weeks. At present we have no information about how to submit the claim nor how any of this applies to director only payrolls. The rumour is that directors are covered provided the only work they do is complete their statutory filing responsibilities. The mi...

MAKE EACH DAY COUNT

OR ARE YOU GOING TO LEAVE IT BEHIND!   Up against a wall in your business, working all the time available, or not available, running to catch up but never stopping for breath, missing spending time with the family, children grown up and you missed the sports days, suffering bad health, working for the customers that shout the loudest, struggling with cash flow? These are all indicators that you are working for the business and the business is not working for you. It is time to make a decisi...