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COVID-19

New claims required for working from home tax relief

Employees who work from home due to the COVID-19 pandemic will need to make a new claim for the 2021/22 tax year so that they can continue to claim tax relief where they have not been reimbursed by employers. 

Temporary extension of loss relief carry-backs

The policy aims to provide a cash flow benefit to businesses by providing additional relief for trading losses, thereby generating repayments for tax paid for two additional years.

Recovery Loan Scheme now open for applications

The government’s latest COVID-19 support programme, the Recovery Loan Scheme (RLS) has been opened for applications as of yesterday (6 April 2021).

Companies House COVID Filing Extension To Come To An End

The automatic extensions granted by the Corporate Insolvency and Governance Act will come to an end for filing deadlines that fall after 5 April 2021.

Coronavirus Restart Grant Scheme

The coronavirus Restart Grant scheme has been put in place to support businesses in reopening safely as COVID-19 restrictions begin to lift.

Take advantage of tax breaks from your time working at home

Employed and Self-Employed persons can take advantage of tax breaks on their time working from home. 

EXTENSION AND CHANGES TO THE CORONAVIRUS JOB RETENTION SCHEME (CJRS)

The Coronavirus Job Retention Scheme (CJRS) has now been extended until the end of September 2021.   From now until June 2021 the government continue to pay 80% of a furloughed employees wages for hours not worked up to a cap of £2,500.

Extension and changes to the Coronavirus Job Retention Scheme (CJRS)

The Coronavirus Job Retention Scheme (CJRS) has now been extended until the end of September 2021.

Extension to the VAT deferral scheme

Organisations were able to take advantage of the Coronavirus VAT payment deferral scheme in 2020 but with a repayment deadline approaching HMRC have made these options available for those which still need to pay.

What support grants are available for pubs?

Eligible pubs have the opporunity to apply for "wet-led pubs" support grant as well as the "Local Restrictions Support Grant (LRSG (Closed) Addendum)".

Coronavirus VAT Deferral Scheme Extended Until March 2022

HMRC have announced that businesses who deferred VAT payments between between 20 March and 30 June 2020 and still have payments to make can opt in to the new VAT deferral payment scheme when it launches later this year.

New lockdown grants to support businesses

The Chancellor has announced that businesses in the retail, hospitality and leisure sectors will be eligible to receive a one-off top up grant worth up to £9,000 per property.

£4.6 billion in new lockdown grants to support businesses and protect jobs

Businesses in the retail, hospitality and leisure sectors are to receive a one-off grant worth up to £9,000, the Chancellor has announced.

Furlough and Loan Schemes Extended Post March 2021

The Chancellor has today announced an extension of the support measures available to businesses affected by the coronavirus pandemic and local lockdowns. 

How to improve your business' cash flow with cloud accounting for start ups to large businesses

Covid 19 has wreaked havoc for all business sectors but has had a very significant impact on the hospitality and leisure sector, which subsequently then expands into other businesses in terms of supply chains and consumer demand. 

Are you eligible for the Bounce Back Loan Top Up?

Lenders that had previously offered bounce back loans (BBL) are now able to offer borrowers a top up if they originally took out less than the maximum amount. 

COVID-19: OPTIONS AND PROTECTION AVAILABLE TO COMPANIES IN DISTRESS

Trying to do the right thing by the company’s employees, customers, suppliers and other stakeholders whilst ensuring ongoing compliance with their fiduciary duties will be challenging, however, changes have been made to the insolvency regime to provide directors with breathing space to explore their options.

New national lockdown and changes to business support measures

New national lockdown and changes to business support measures

Coronavirus Job Retention Scheme

The Coronavirus Job Retention Scheme (CJRS) commonly known as the furlough scheme will be extended until the 30 April 2021. The most recent update (further extending the life of the scheme) was announced by the Chancellor Rishi Sunak on 17 December 2020. 

Self Employed Income Support Scheme Extension (SEISS)

The Government has provided more support for the self employed in the latest March 2021 Budget announcement. 

Finance options for businesses affected by the Coronavirus

There are a number of financing options available to businesses who have been negatively impacted by the coronavirus pandemic. 

CO-OP COVID-19 Food Support Fund

The CO-OP have launched their own COVID-19 funding programme to support voluntary and community groups that run programmes relating to providing emergency food and programmes that can address food insecurity and its impacts. 

COVID-19: Claiming working-from-home relief

You can claim tax relief for the whole year, worth £60 or £125 depending on your tax band even if you have only had to work from home for just one day.

Company voluntary arrangements ("CVA") - A valuable restructuring tool in a post pandemic world

CVA’s are often associated with large multi-site retailers seeking to restructure shop-lease portfolios however they are much more than this. 

COVID-19: Chancellor announces increased support for businesses and employees

The government have announced today some significant changes to provide additional financial support to businesses and employees affected by the coronavirus.  

Companies House to resume strike offs

In response to COVID-19, temporary easement measures have been kept under monthly review.  

How to claim the government's £1,000 Job Retention Bonus

The Job Retention Bonus scheme opens for claims from 15 February 2021 and employers have until 31 March 2021 to submit their claims.  

Self-Employment Income Support Scheme - Second grant claim must be made by 19 October 2020

If you haven’t yet made a claim for the second grant and you are eligible, make sure you do so by 19 October 2020 or risk losing out.

Coronavirus-related HMRC scam warning

We’ve become aware of several coronavirus (COVID-19) related scams purporting to be from HMRC.

Additional grant aid for local lockdown businesses

Last month the Treasury announced further support for businesses adversely affected by lockdown in local areas to control local outbreaks.

The Winter Economy Plan

The Chancellor has made a series of announcements about ongoing support for businesses suffering because of the coronavirus, intended to help them through the winter.

COVID-19: New support for businesses and employees announced

The Government has announced today further welcomed measures of financial support to businesses and employees.

£375,000 Grant Fund Available For Solent SME's

With the continual government guidelines being introduced or changed, many business owners are having to incur expenditure on more or different measures of safety due to COVID-19 having a large influence on how businesses are allowed to operate.

COVID-19: What to do if you've overclaimed through the coronavirus job retention scheme

HMRC have updated their guidance on how to report and pay back any money overclaimed through the coronavirus job retention scheme grant.

COVID-19: New guidance for furlough claims submitted after 14 September

HMRC have updated their guidance on calculating hours and furlough pay for claims submitted after 14 September 2020. 

Additional funding available for East Midlands businesses affected by the coronavirus

SEMLEP has a limited pot of funding available to support SMEs across the South East Midlands to respond to the immediate COVID-19 crisis.  

COVID-19: Grants for businesses affected by local lockdowns

Some welcome news for businesses affected by local lockdowns has been announced by the government.   Businesses can claim grants of between £1,000 and £1,500 every three weeks while they are required to be closed.  

Employment Allowance and the Coronavirus Job Retention Scheme (CJRS)

There has been considerable discussion about the Employment Allowance and how it interacts with CJRS.  

COVID-19: SEISS When and how to claim the next payment under HMRC support scheme

The Self-Employment Income Support Scheme (SEISS) was part of the package of measures from the Government to support businesses through the Covid-19 pandemic.  The second and final tranche of grants available to eligible businesses can be claimed online from 17 August 2020.  The closing date for claims for the second and final grant is 19 October 2020.  

Time is running out to make your furlough claim

If you have furloughed any employees during the period ended 30 June 2020 and you are eligible to make a furlough claim under the job retention scheme, you must do so BY 31 JULY 2020.

Summer Economic Statement 2020

As part of the continuing government response to the Coronavirus, Chancellor Rishi Sunak has announced a raft of measures to support the UK economy in a special summer economic update.  

Don’t forget to re-instate your direct debit if you have used the VAT deferral scheme

VAT registered businesses are able to defer their VAT payments falling due in the period between 20 March and 30 June 2020 until 31 March 2021.  

COVID-19: Changes to the furlough scheme from 1 July 2020

Following the government’s announcement earlier this month regarding changes to the furlough job retention scheme from 1 July 2020 until 31 October 2020, detailed guidance has now been released explaining the changes.  

COVID-19: Job Retention Scheme Flexible Furlough Checklist

To help you prepare for the next, flexible stage of the furlough scheme we have prepared a useful checklist of the key dates and the steps you need to take to prepare.   

COVID-19: Employees on parental leave can access furlough scheme after 10 June deadline

Changes to the furlough scheme mean that parents on statutory maternity and paternity leave who return to work in the next few months will now be eligible for the government’s furlough scheme even after the 10 June cut-off date for new entrants.  

COVID-19: VAT Change Delayed By Five Months For Construction Services

Domestic reverse charge for construction services delayed until March 2021.

COVID-19: Self-employment Income Support Scheme extended

The Self-Employment Income Support Scheme has been extended by a further three months to cover June, July and August 2020.

COVID-19: Furlough scheme extended by four months

The Coronavirus Job Retention Scheme is to be extended by four months to 31 October and employers will be able to bring back furloughed employees on a part-time basis, as part of the government’s plans to ‘re-open the economy’.

COVID-19: What are the options when furlough ends?

Although we still don’t know when lockdown restrictions will be lifted, it is worth organisations starting to plan for the end of the furlough period – particularly if you are unlikely to have a full workload to occupy your entire team.  We look at the options available to businesses when the furlough scheme finishes. 

COVID-19: Company cars and lockdown

As we enter another week of coronavirus lockdown HMRC have confirmed that company car drivers must still suffer a Benefit-in-Kind tax charge where they have access to private use of their vehicles.   We look at the implications for company car drivers. 

COVID-19: Self-employment Income Support Scheme eligibility checker now live

The self-employed can now check their eligibility for the Self-Employment Income Support Scheme (SEISS). 

COVID-19: What you can claim when working from home

The working from rules are not new but are certainly more relevant than ever as larger numbers of employees are required to work from home due to the COVID-19 pandemic.   

COVID-19: Free service to ensure former NHS staff returning to work do not overpay tax

Moore, the accountants and business advisors, are offering a free service to ensure that former NHS staff returning to work in the COVID-19 crisis do not end up paying too much tax.

COVID-19: Returning to work in the NHS

If you have returned to work in the NHS after retiring, your tax affairs have just become more complicated. This is far from ideal at a time when your focus is on helping the country get through the COVID-19 crisis. We are here to help.

COVID-19: Statutory Sick Pay Rebate Scheme

The Coronavirus Statutory Sick Pay Rebate Scheme will repay employers the current rate of Statutory Sick Pay (SSP) SSP that they pay to current or former employees for periods of sickness starting on or after 13 March 2020.

COVID-19: Business Interruption Loan criteria relaxed

The UK’s largest small business lenders have relaxed the evidence requirements for applications to the Coronavirus Business Interruption Loan Scheme (CBILS).    

COVID-19: Testing expanded to include those who can’t work from home

The government announced yesterday (Tuesday 28 April 2020) an expansion of coronavirus testing to include those over 65 as well as anyone who has to leave the house to work if they are showing coronavirus symptoms.   

COVID-19: New 100% government backed Bounce Back loan scheme

In another measure designed to ease pressure on businesses affected by the coronavirus crisis and keep small businesses operating, the government yesterday (Monday 27 April,) announced a new 100% government backed loan scheme for small and medium businesses.

COVID-19: Companies House announce new measures to help businesses avoid being struck off

Companies House has announced a temporary pause of the strike off process to help businesses affected by the coronavirus crisis.  Voluntary DS01 applications can still be filed, but the company will not be struck from the register.  

COVID-19: Job Retention Scheme Claim Portal now live

The coronavirus Job Retention Scheme online service is now live, and businesses can now submit their claims for furloughed workers. 

COVID-19: Information needed to claim under the Job Retention Scheme

If you’re eligible for the Job Retention Scheme, there are things that you can do now to be ready to make your claim when the system is up and running later this month.

COVID-19: Business Rates Relief

The Chancellor has announced a raft of measures designed to help businesses during the coronavirus crisis.  One of the headline measures announced in the Spring Budget was the Business Rates Holiday - 100% relief from Business Rates for retail, leisure and hospitality businesses in England for 2020/21. 

COVID-19: Register now to claim for the Job Retention Scheme

Although we are still waiting for detailed guidance on how to compile claims, government guidance states you must have enrolled for PAYE online to be able to claim.  Please see attached fact sheet providing instructions on how to set this up.   

COVID-19: Job Retention Scheme - further information

The government have released further updates for the job retention scheme including confirmation that office holders, directors and salaried members of LLPs are eligible for the scheme and provides further information on what should be included in the calculation of monthly earnings.

COVID-19: Travel to Work

To clarify the situation regarding travel – travel for work purposes is currently permitted, but only where you cannot work from home and provided you are not showing coronavirus symptoms and neither you nor any of your household are self-isolating.   

Making Tax Digital VAT deadline extended to 1 April 2021

HM Revenue and Customs (HMRC) has just confirmed that they are allowing an extension to the deadline for implementing full digital links for Making Tax Digital (MTD) for VAT, therefore extending the soft landing period.

COVID-19: Job Retention Scheme - Furloughed Workers

Under the Job Retention Scheme, announced by the Government on 20 March 2020, all UK employers will be able to access support to allow them to continue paying part of their employees’ salary for those employees’ that would have otherwise been laid off during the crisis.  

COVID-19: Deferral of income tax payments due on 31 July 2020

The Government have announced that the option to defer the second tax payment on account, due on 31 July 2020, is available to all self assessment tax payers.

COVID-19: New self-employment income support scheme announced

The Government announced yesterday, 26 March 2020, the introduction of the self-employment Income Support Scheme.  This scheme is to provide financial help to self-employed individuals, including members of a partnership, who have lost income due to the coronavirus.  

COVID-19: Deferring VAT payments

All UK businesses are eligible to defer VAT payments for 3 months if required in the period 20 March 2020 until 30 June 2020.

COVID-19 – Limited Companies extension of filing deadlines

Due to the disruption caused by COVID-19 and uncertain times facing businesses, Companies House have made some measures to help ease the burden regarding the filing of accounts. 

HMRC 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.

COVID-19: Business interruption loan scheme

A new temporary Coronavirus Business Interruption Loan Scheme, delivered by the British Business Bank, will launch this week to support primarily small and medium-sized businesses to access bank lending and overdrafts.