HMRC updated their guidance 4 May to outline the process for applying for SEISS.

Full details:  https://www.gov.uk/guidance/claim-a-grant-through-the-coronavirus-covid-19-self-employment-income-support-scheme

The scheme will allow you to claim a taxable grant of 80% of your average monthly trading profits, paid out in a single instalment covering 3 months, and capped at £7,500 altogether.

(more…)

On Thursday 26 March the government announced their intention to provide further support for the self-employed in the form of a taxable cash grant.

The scheme allows individuals to claim a taxable grant worth 80% of their trading profits up to a maximum of £2,5

00 per month for the 3 months from March to May 2020. This may be extended if needed.

(more…)

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.

(more…)

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 laid off during this crisis. This applies to employees who have been asked to stop working, but who are being kept on the payroll, otherwise described as “furloughed workers”. HMRC will reimburse 80% of their wages, up to £2,500 per month. This is to safeguard workers from being made redundant. The Coronavirus Job Retention Scheme will cover the cost of wages backdated to 1^ST March and is initially open for 3 months but will be extended if necessary.

(more…)

For VAT, the deferral will apply from 20 March 2020 until 30 June 2020.

All UK businesses are eligible.

(more…)

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.

(more…)

As you are no doubt aware the Chancellor, Rishi Sunak, laid out some new measures on the 20th March 2020 in order to help businesses survive the current COVID-19 pandemic.

Below we have listed everything that came out of the speech and how businesses can go about applying for assistance in these uncertain times.

(more…)