Straight from the horse’s mouth

Job Retention Scheme – Yesterdays Update Provides Much Needed Clarity

18th April 2020
HMRC updated their online guidance relating to this scheme yesterday (Friday 17 April) just in time for the first applications to be made this coming week. Claim for wage costs through the Job Retention Scheme Check if you could be covered by Job Retention Scheme The full guidance can be found at these two separate...

Updates on the Government Support Packages for Business

16th April 2020
Key Points 1. The Government has announced an extension to the Job Retention Scheme (JRS) that is likely to bring an additional 200,000 employees into the scheme. 2. JRS application process – the importance of having an active Government Gateway account for your business. 3. HMRC have launched a ‘whistleblower’ service for breaches of Job...

Details for claiming under the Coronavirus Job Retention Scheme

14th April 2020
Last week we produced Updated Guidance on the Job Retention Scheme and highlighted that the current timing is for the site to be live on Monday 20th April (next Monday). If your business is making a claim you will need to have access to your PAYE records via your Government Gateway login to make the...

Improvements to the Coronavirus Business Interruption Loan Scheme

3rd April 2020
Rishi Sunak yesterday announced several significant improvements to the Coronavirus Business Interruption Loan Scheme (CBILS). The CBILS provides loans, overdrafts and invoice and asset finance of up to £5m for up to 6 years. It is eligible to all businesses with a turnover under £45m. The UK government provides a guarantee to the lender of...

Covid-19: HMRC delays MTD ‘digital links’ Excel deadline

2nd April 2020
HMRC has deferred by one year the deadline for businesses reporting under Making Tax Digital (MTD) for VAT to meet the requirement to have ‘digital links’ within their recordkeeping for transferring information from Excel spreadsheets and other data sources to their online VAT filing. Businesses will now be able to continue using their current ad-hoc...

VAT Deferral Payment

27th March 2020
Announcement from HMRC – If your business is wanting to make use of the VAT Deferral Arrangement announced last week and your businesses normally pays the VAT by direct debit, please cancel the direct debit with the bank. Ensure this is done in good time as payment instruction can be requested a few days before...

Coronavirus Job Retention Scheme – Full Details

27th March 2020
The government published guidance late last night on the operation of the Job Retention Scheme. We have had many enquiries in relation to this matter and hopefully the following information will answer the majority of these queries. Recap of the Basics Employers can claim 80% of furloughed worker’s usual wage costs up to £2,500 per...

Coronavirus Self-employment Income Support Scheme

27th March 2020
This scheme is for the self-employed or members of a partnership that have lost income due to coronavirus. This scheme will allow you to claim a taxable grant worth 80% of your trading profits up to a maximum of £2,500 per month for the next 3 months. This may be extended if needed. Who is...

Third Sector Resilience Fund

25th March 2020
As part of the Scottish Government Response to the Coronavirus crisis, £20m has been allocated to the new ‘Third Sector Resilience Fund’.  This fund is live today 25th March 2020. The Third Sector Resilience Fund will provide grants of between £5,000 and £100,000 to eligible charities, social enterprises and voluntary organisations that are playing a...