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Support for nursery businesses that pay business rates (England)

The Government is introducing a business rates holiday for nurseries in England for the 2020 to 2021 tax year. Nurseries are eligible for the business rates holiday if: The business is based in England Properties that will benefit from the relief will be: occupied by providers on Ofsted’s Early Years Register wholly or mainly used…Read More

INCREASE IN WORKING TAX CREDITS

The government has announced that Working Tax Credits payments will be increased from 6 April 2020. As part of a number of measures to support the country during the COVID-19 pandemic, the basic element of Working Tax Credit has been increased by £1,045 to £3,040 from 6 April 2020 until 5 April 2021. The amount…Read More

HOW TO CLAIM FOR YOUR EMPLOYEES’ WAGES THROUGH THE CORONAVIRUS JOB RETENTION SCHEME (CJRS)

The Government recently provided more details on how the CJRS works. Please note the online service you will use to claim is not open yet – we will let you know when it is. We have the capability to calculate and submit your CJRS Claim so please let us know if we can help. Overview…Read More

CORONAVIRUS JOB RETENTION SCHEME (CJRS)

#1 Do you employ Apprentices? Apprentices can be furloughed in the same way as other employees and they can continue to train whilst furloughed. However, you must pay your Apprentices at least the Apprenticeship Minimum Wage, National Living Wage or National Minimum Wage (AMW/NLW/NMW) as appropriate for all the time they spend training. This means…Read More

UNIVERSAL CREDIT (UC) FACT SHEET FOR CLIENTS

The following information can be found at: http://www.understandinguniversalcredit.gov.uk/new-to-universal-credit/how-much-youll-get/ We have summerised this into several sections and we hope you find the information useful. How your UC payment is calculated: There are 3 steps to work out your Universal Credit payment. More details about each stage are below: Your household’s maximum Universal Credit amount is calculated.…Read More

JOB RETENTION SCHEME

Frequently Asked Questions (Based on information available as at 29 March 2020) Under the Coronavirus Job Retention Scheme, all UK employers with a PAYE scheme will be able to access support to continue paying part of their employees’ salary for those that would otherwise have been laid off during this crisis. This applies to employees…Read More

GRANTS UNDER THE SELF-EMPLOYMENT INCOME SUPPORT SCHEME (CSEISS)

On 26 March 2020 the Chancellor announced a new grant scheme available to the self-employed and members of partnerships and have lost income due to coronavirus. This factsheet is based on the limited details announced by HMRC as at 30 March 2020. Broadly the new scheme will allow self-employed taxpayer to claim a taxable grant…Read More

CORONAVIRUS SELF-EMPLOYMENT INCOME SUPPORT SCHEME (CSEISS) – UPDATE FOR CLIENTS

HELP FOR THE SELF EMPLOYED Chancellor Rishi Sunak has announced measures to support the self-employed and partnerships. The scheme is called the Coronavirus Self-employment Income Support Scheme (CSEISS). If you have suffered a loss in income, a taxable grant will be paid to the self-employed or partnerships, worth 80% of profits up to a cap…Read More

UPDATE ON THE JOB RETENTION SCHEME

PLEASE NOTE: NOTE THIS GUIDANCE IS STILL INCOMPLETE AND THE GOVERNMENT NEED TO ISSUE FURTHER BRIEFING NOTES ON THE DETAIL. Introduction Under the coronavirus Job Retention Scheme, all UK employers with a PAYE scheme will be able to access support to continue paying part of their employees’ salary for those that would otherwise have been…Read More

COMPANIES TO RECEIVE 3-MONTH EXTENSION PERIOD TO FILE ACCOUNTS DURING COVID-19

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. As part of the agreed measures, while companies will still have to apply for the 3-month extension…Read More

Statutory Self-Employment Pay proposed amendment to the Coronavirus Bill

There was a proposal made to the Coronavirus Bill for the payment of Statutory Self-Employment Pay by the House of Commons Public Bill Committee and an article relating to this is doing the rounds. This is a proposed amendment only and has not been agreed. In addition, most commentators believe that this will not make…Read More

THE CORONAVIRUS BUSINESS INTERRUPTION LOAN SCHEME (CBILS) IS NOW AVAILABLE THROUGH PARTICIPATING LENDERS

INTRODUCTION CBILS is a new scheme, announced by The Chancellor at Budget 2020, that can provide facilities of up to £5m for smaller businesses across the UK who are experiencing lost or deferred revenues, leading to disruptions to their cashflow. CBILS supports a wide range of business finance products, including term loans, overdrafts, invoice finance…Read More

#11 INSURANCE

Businesses that have cover for both pandemics and government-ordered closure should be covered, as the government and insurance industry confirmed on 17 March 2020 that advice to avoid pubs, theatres etc is sufficient to make a claim as long as all other terms and conditions are met. Insurance policies differ significantly, so businesses are encouraged…Read More

#10 SUPPORT FOR BUSINESSES PAYING TAX: TIME TO PAY SERVICE

All businesses and self-employed people in financial distress, and with outstanding tax liabilities, may be eligible to receive support with their tax affairs through HMRC’s Time to Pay service. These arrangements are agreed on a case-by-case basis and are tailored to individual circumstances and liabilities. You are eligible if your business pays tax to the…Read More

#9 SUPPORT FOR LARGER FIRMS THROUGH THE COVID-19 CORPORATE FINANCING FACILITY

Under the new Covid-19 Corporate Financing Facility, the Bank of England will buy short term debt from larger companies. This will support your company if it has been affected by a short-term funding squeeze and allow you to finance your short-term liabilities. It will also support corporate finance markets overall and ease the supply of…Read More

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