Some important changes to holiday pay arrangements came into effect from 6 April 2020. This has seen the reference period for calculating holiday pay increase from 12 to 52 weeks. This change affects workers with no fixed or regular hours. It means
The government has announced the introduction of temporary new measures to protect commercial tenants on UK high streets from aggressive rent collection and closure during the Coronavirus pandemic.
These measures will see statutory demands and
A free HMRC tax app is available and offers some useful functionality. The app has recently been updated.
The APP can be used to see:
your tax code and National Insurance number
an estimate of the tax you need to pay
your income and
It was announced at the end of March that VAT registered businesses have the option to defer any VAT payments due between 20 March 2020 and 30 June 2020.
HMRC’s guidance for the deferral of VAT payments has been updated and states that you can
Under the Coronavirus Statutory Sick Pay Rebate Scheme, small-and medium-sized businesses and employers will be able to reclaim Statutory Sick Pay (SSP) paid for sickness absence due to COVID-19. The online service to reclaim SSP is not available
The deadline for submitting the 2019-20 forms P11D, P11D(b) and P9D is 6 July 2020. Employees must also be provided with a copy of the information relating to them on these forms by the same date. P11D forms are used to provide information to HMRC on
HMRC has released the latest issue of the 'Employer Bulletin' publication which includes summaries of recent changes and updates that have been announced which are relevant to employers and agents.
The topics covered in the latest edition
1 May 2020 – Due date for Corporation Tax due for the year ended 30 July 2019.
19 May 2020 – PAYE and NIC deductions due for month ended 5 May 2020. (If you pay your tax electronically the due date is 22 May 2020).
19 May 2020 – Filing deadline for
Aside from the various rate reduction schemes, grants linked to the occupation of business premises, the furlough scheme and the Self-Employed Income Support Scheme, all other sources of government support for SME’s are a bewildering array of
An income stream is a fanciful term to describe a source of income. This post examines the value of creating more than one source of income as opposed to relying on just one source.
First, a cliché, placing all your eggs in one
The Chancellor, Rishi Sunak has today (27 April 2020) made a statement to the House of Commons on the government’s economic response to the Coronavirus outbreak. The Chancellor confirmed that the Office of Budget Responsibility (OBR) has said
Under normal trading conditions – pre-COVID-19 disruption – every time we sell our goods or services each sale requires that we cover three categories:
The direct costs of the sale (for example, the raw materials purchased to produce
The Government has launched a raft of grants and loan guarantee arrangements since the COVID-19 lock-down started last month.
In almost all cases the grants are taxable and non-repayable, unless HMRC at some future date consider that the grants were
If you had a student loan and have finished your studies and entered the workforce you must begin to make loan repayments from the April after you have finished your studies or when your income begins to exceed the annual threshold. The annual
The scope of the Coronavirus Large Business Interruption Loan Scheme (CLBILS) was expanded by the Chancellor ahead of the scheme launch on 20 April 2020. The scheme enables banks to make loans to firms with an annual turnover of over £45
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