Skip to main content

Newsletter 17/12/2020

I hope you are all looking forward to Christmas and the well earned break that I know many of you need. I put my Christmas tree up way too early and it’s looking very sorry for itself. We may be huddling around a needleless tree skeleton on Christmas day!

There have been a few Government announcements today which you may or may not be aware of:


Coronavirus Job Retention Scheme Extension (CJRS)

  • It was due to come to an end on 31st March 2021. It has now been extended to the end of April 2021.
  • The Government will continue to meet 80% of the ‘deemed’ salary for the furlough period.

Budget Day

  • The UK Budget day will now be on Wednesday, 3rd March 2021.
  • Further Covid-19 support measures will be released then.
  • As a reminder Scotland’s Budget will be announced on Thursday, 28th January 2021.
  • No date has yet been made for the Welsh Budget.


Government Backed Loan Schemes Extension

  • Access to the Bounce Back Loans, the Coronavirus Business Interruption Loans Schemes was due to come to an end on 31st January 2021. This has been extended until 31st March 2021.
  • An announcement will be made in early 2021 regarding the Successor Loan scheme which will be on offer post 31st March 2021.


As mentioned in the Christmas message sent out this week, we will be closed from 24th December until 4th January.


Please do not hesitate to get in touch if you would like to discuss the announcement and how you may be impacted.



Labels:

Comments

Post a Comment

Popular posts from this blog

Newsletter 08/03/2021

Well I’m sure for many of you today is a big day as children return to school and we begin the slow transition back to normal life. If you require further explanation on any of the topics in todays newsletter then don’t hesitate to get in touch. Our contact details are at the bottom. Todays topics include: Super Deduction 130% Corporate First Year Allowance Electric Switchover – The benefits In my previous newsletter dated 01/03/2021 I shared with you some benefits of electric cars for your business. I want to revisit that as there is still more to say on the matter. The Corporate Super Deduction Allowance (SDA) - 130% What is it? It is a 130% first year allowance deduction for expenditure incurred in purchasing plant & machinery (P & M)  that would normally qualify for main rate writing down allowance of 18%. When can you claim it? You can claim it for expenditure incurred on or after 1st April 2021 up to and including 31st March 2023. When is the expenditure deemed to be ...
2 comments
Read more

Statutory Sick Pay Rebate Scheme (SSPRS)

What is the aim? To support employers facing heightened levels of sickness absence due to Covid-19. What does the SSPRS do? It will refund small and medium-sized employers Covid 19 related statutory sick pay (SSP) costs up to 2 weeks per employee. What is the eligibility criteria? Aimed at UK based employers. They employed fewer than 250 employees as of 30th November 2021. They had a PAYE payroll system as of 30th November 2021. At the time of the claim, they have already paid their employees Covid -19 related SSP. Employers can claim for Covid 19 sickness absences occurring from 21st December 2021 onwards. The 2 week limit is to be reset, so an employer will be able to claim up to 2 weeks per employee, even if they claimed for that employee under the previous SSPRS. How do you claim? Employers will be able to make the claim, through HMRC, from mid-January onwards using the website below: Claim back Statutory Sick Pay paid to your employees due to coronavirus (COVID-19) - GOV.UK (www.g...
2 comments
Read more

More Information- CJRS and SEISS

As we start another week,  I felt it was important for me to share the latest updates with you regarding the Coronavirus Job Retention Scheme and the Self-Employed Income Support Scheme. HMRC Recovery Powers HMRC have put together the draft legislative package to reclaim payments under CJRS and the Self-Employed Income Support Scheme. This is subject to a HMRC consultation which comes to an end on 12th June. Under the draft legislation, HMRC will have the power, by way of a 100% tax charge, to recover payments which were either: Not due Not used to pay wages and PAYE Not used to make pension contributions Penalties will be imposed where there has been deliberate non-compliance. This comes at the same time as HMRC have notified that, to date, they have picked up on nearly 2,000 fraudulent CJRS claims to date. This is, in part, due to ongoing calls to their Fraud hotline number 0800 788887 and also through their online whistle-blower report webpage. Big reminder – 10th June last dat...
Post a Comment
Read more