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Job Support Scheme for closed businesses

The CJRS or furlough scheme ended on 31 October 2020 and has been replaced by the Job Support Scheme (JSS). This JSS has been designed to help businesses and employees deal with a fresh spike of the virus and a winter of uncertainty.

The JSS is now

Venues required to enforce rule of six

Since 18 September 2020, many designated venues in England have been required to enforce the rule of 6. The ‘rule of 6’ bans any social gathering of more than 6 people, except under limited circumstances such as if a single household or support

Carry back charitable donations

If you pay Income Tax at the basic rate no additional relief is due on your charitable donations. However, if you are a higher rate or additional rate taxpayer then you can claim tax relief on the difference between the basic rate and your highest

JSS – financial impact test for large employers

The Job Support Scheme (JSS) Open is available from 1 November 2020 for businesses that remain open but with employees working reduced hours. Employees must work at least 20% of their usual hours, paid as normal, in order to qualify for the JSS Open.

JSS fraudulent claims

The Job Support Scheme (JSS) has replaced the Coronavirus Job Retention Scheme (CJRS) which came to an end on 31 October 2020.There are significant concerns that between 5%-10% of claims made under the CJRS were fraudulent or made in error.

There

Events company collapse

A recent investigation by the Insolvency Service has seen a husband and wife disqualified from being directors for a total of 17 years. The husband and wife team were directors of a company that provided conference and event organisation services

Unravelling the jargon: what is a support bubble?

The following notes are copied from the GOV.UK website. At first glance, it would appear that the definition of a support bubble should be fairly easy to grasp. Don’t hold your breath.

Basically, a support bubble is a close support network between a

Handling food? Wash, those hands

If you are considering any change to your business activities that will involve handling any packaged food or raw ingredients, as you would expect, there are a raft of regulations that you will need to consider and adopt.

The Department of the

Tax Diary November/December 2020

1 November 2020 – Due date for Corporation Tax due for the year ended 31 January 2020.

19 November 2020 – PAYE and NIC deductions due for month ended 5 November 2020. (If you pay your tax electronically the due date is 22 November 2020.)

19

New cashback scheme proposed

The government has announced plans to allow customers to get cashback from shops without needing to make a purchase. At the moment, cashback is only available to those who buy goods. The new proposals have been put in place to help protect the UK’s

Closing a limited company

There are a number of reasons why you may decide to close your limited company. This could be because a limited company structure no longer suits your needs, your business is no longer active, or the company is insolvent. You will usually need the

Brexit countdown importers

As we have reported previously, the UK government has confirmed that it will neither accept nor seek any extension to the Brexit transition period which expires on 31 December 2020. The EU has formally accepted this position. This means that the

Brexit countdown exporters

The Brexit transition period is due to end on 31 December 2020 and this means that the process for exporting goods to the EU will change from 1 January 2021.

Current guidance published by HMRC states that from 1 January 2021, businesses will need to

Clock ticking on the Annual Investment Allowance

The Annual Investment Allowance (AIA) allows for a 100% tax deduction on qualifying expenditure on plant and machinery to be deducted from your profits before tax. The relief is normally capped at £200,000 per annum but was temporarily increased to

Distributions in anticipation of striking off rules

The Extra Statutory Concession (ESC) – C16 was a well-used extra-statutory concession that allowed company directors to treat final distributions as a capital disposal and close down their business in an efficient manner. ESC C16 was withdrawn in

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