There have been a number of updates recently regarding various provisions that the Government have put in place to help businesses. Coronavirus Job Retention Scheme (CJRS)
For those of you that have employees (including sole directors) who are or have been furloughed, the CJRS portal for claims will be open as of Monday 20th April.
A Step-By-Step guide is available for making claims. If you have employees being furloughed, please read the guide even if we will be making the claim on your behalf. There are HR procedures (Not Accounting) that must be followed and that you must have in place for each employee being furloughed.
The latest guidance on the scheme can be found on the Government website at https://www.gov.uk/guidance/work-out-80-of-your-employees-wages-to-claim-through-the-coronavirus-job-retention-scheme
How to calculate the amount you can claim is set out in detail at https://www.gov.uk/guidance/work-out-80-of-your-employees-wages-to-claim-through-the-coronavirus-job-retention-scheme Small Business Grants
This scheme is now open and many local authorities have written to eligible rate payers with details of how to access the scheme. This has typically been done through providing details to your local authority by means of a portal on their respective websites. If you have not yet received any communication from your local authority and you believe you are eligible for the grant, please check their website and contact them directly. Deferred Payments
For Deferred VAT and self assessment payments in July you do not need to do anything to communicate to HYMRC that you are deferring the payment but you must still submit your returns on time. Please remember though to cancel any direct debit mandate you may have in place otherwise payment will be taken.
For time to pay for other taxes, you must agree these directly with HMRC. It is important to do this rather than just not pay. You could incur penalties. Self Employment Scheme
This scheme is not yet open for claims but the latest details of how the scheme will work can be found on the Government website https://www.gov.uk/guidance/claim-a-grant-through-the-coronavirus-covid-19-self-employment-income-support-scheme
These are very challenging times for everyone. We hope you are all keeping safe and well and are coping with your new routines.
Covid-19 Update #3
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There have been a number of updates recently regarding various provisions that the Government have put in place to help businesses.
Coronavirus Job Retention Scheme (CJRS)
For those of you that have employees (including sole directors) who are or have been furloughed, the CJRS portal for claims will be open as of Monday 20th April.
A Step-By-Step guide is available for making claims. If you have employees being furloughed, please read the guide even if we will be making the claim on your behalf. There are HR procedures (Not Accounting) that must be followed and that you must have in place for each employee being furloughed.
The latest guidance on the scheme can be found on the Government website at https://www.gov.uk/guidance/work-out-80-of-your-employees-wages-to-claim-through-the-coronavirus-job-retention-scheme
How to calculate the amount you can claim is set out in detail at https://www.gov.uk/guidance/work-out-80-of-your-employees-wages-to-claim-through-the-coronavirus-job-retention-scheme
Small Business Grants
This scheme is now open and many local authorities have written to eligible rate payers with details of how to access the scheme. This has typically been done through providing details to your local authority by means of a portal on their respective websites. If you have not yet received any communication from your local authority and you believe you are eligible for the grant, please check their website and contact them directly.
Deferred Payments
For Deferred VAT and self assessment payments in July you do not need to do anything to communicate to HYMRC that you are deferring the payment but you must still submit your returns on time. Please remember though to cancel any direct debit mandate you may have in place otherwise payment will be taken.
For time to pay for other taxes, you must agree these directly with HMRC. It is important to do this rather than just not pay. You could incur penalties.
Self Employment Scheme
This scheme is not yet open for claims but the latest details of how the scheme will work can be found on the Government website
https://www.gov.uk/guidance/claim-a-grant-through-the-coronavirus-covid-19-self-employment-income-support-scheme
These are very challenging times for everyone. We hope you are all keeping safe and well and are coping with your new routines.
This entry was posted in Business Tax, Coronavirus, News and Comments, Personal Taxes.