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Coronavirus (COVID-19) information
Sophie Warner - August 14th, 2020
The budget on 11 March 2020 was the start of several announcement to help businesses and individuals through these unprecedented times.
Further measures and details of the support already announced are being updated regularly by the Government.
The link to HMRC information for employees, employers and businesses in regard to finance assistance available is here (including “Bounce Back loans” and see the second link for an announcement made 30 July (not yet open for applications but you can register interest) for further grants aimed at small and medium businesses): –
https://www.gov.uk/government/news/20-million-in-new-grants-to-boost-recovery-of-small-businesses
You’ll never get an email, text message or phone call from HM Revenue and Customs (HMRC) which:
- tells you about a tax rebate or penalty
- asks for your personal or payment information
Check HMRC’s guidance on recognising scams if you’re not sure or forward to us.
BUSINESSES AND EMPLOYERS
ACAS has information relevant to employers and employees here (this includes the procedure needed to furlough employees and a template letter): –
https://www.acas.org.uk/coronavirus
More detail about furloughed workers can be found through this link including the £1,000 per employee bonus which will be payable in February 2021 if certain conditions are met: –
https://www.gov.uk/guidance/claim-for-wage-costs-through-the-coronavirus-job-retention-scheme
Holiday entitlements can be carried over for 2 years: –
Companies House have announced that Companies will have a temporary extension for filing Company accounts to 12 months from the usual 9 months after the year end.
SELF EMPLOYED INDIVIDUALS AND PARTNERS
The Self-Employment Income Support Scheme for the first claim covering March to May 2020 is now closed. The second claim for businesses affected after 14 July 2020 can be claimed from 17 August 2020. You must have your own government gateway account in order to make a claim. You can find information in regard to support here or please do contact us:-
LINKS TO TRADE BODY GUIDANCE
Below is a link to many different trade bodies who are providing information to members and non members.
GUIDANCE FOR LANDLORDS AND TENANTS
CHILD BENEFIT
If you have suffered a drop in income which may result in both you and your partner having taxable income below £60,000, you may want to consider claiming Child Benefit if you are not currently claiming it, as it may be that the High Income Child Benefit Charge will be reduced or not apply in 2020/21 tax year.
We are here to support you and your business – do contact us in order that we can help you to ensure you have access to any assistance you may be entitled to.