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Self-Employed and Job Retention Scheme changes

30/05/2020

On Friday afternoon, in the Government's daily news briefing, the Chancellor outlined how the Coronavirus Job Retention Scheme will operate moving forward to allow for employees to return to work part time. Following that announcement,

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Additional funding for charities and social enterprise

26/05/2020

The government's dormant assets scheme allows money in accounts that have been dormant for at least 15 years to be made available for certain qualifying charitable and community causes. The Culture Secretary, Oliver Dowden has announced that

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Further support for charities from VAT receipts

26/05/2020

It has been revealed by HM Treasury that the VAT collected on donated personal protective equipment (PPE) will be given to charities supporting the NHS and care workers. This measure will apply to all the VAT collected on donations made from 1 March

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Apply for NIC Childcare Credits

26/05/2020

National Insurance credits can help qualifying applicants to fill gaps in their National Insurance record. This can assist taxpayers to build up the amount of qualifying years of National Insurance contributions which can increase the amount of

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Reimbursing expenses for home office equipment

26/05/2020

HMRC has updated its guide for employers who have employees working from home due to the COVID-19 outbreak. This could be a result of the workplace being closed or because employees are following government advice to self-isolate. The updated

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Employee car ownership schemes

26/05/2020

An Employee Car Ownership Scheme (ECOS) is a set of arrangements whereby employees acquire cars from a specified, often single source and within a specified financing framework. The use of an ECOS can effectively be seen as a halfway measure between

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New HM Treasury instructions re CJRS

26/05/2020

The Chancellor, Rishi Sunak has made a further Treasury Direction under sections 71 and 76 of the Coronavirus Act 2020 concerning the Coronavirus Job Retention Scheme (CJRS). The CJRS currently helps employers furlough their employees with

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Estate Agents who may be exempt from Money Laundering registration

26/05/2020

HMRC is responsible for the money laundering supervision of a number of businesses including estate and lettings agents. Estate agency businesses that HMRC is responsible for supervising should be aware of the requirement to register with HMRC and

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Rules on waiving income or donating to charities

26/05/2020

HMRC has published a new press release that provides some advice for people choosing to give up their income to support their business or donate to charity during the Coronavirus (COVID-19) pandemic. Employers, directors and employees have several

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New advisory fuel rates published

26/05/2020

Advisory fuel rates are intended to reflect actual average fuel costs and are updated quarterly. The rates can be used by employers who reimburse employees for business travel in their company cars or where employees are required to repay the cost of

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Tackling redundant stock

25/05/2020

Many retailers and manufacturing businesses have stock on their shelves gathering dust. There are compelling reasons for tackling this issue as we cautiously emerge from lock-down. For example, freeing up storage space will enable you increase the

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Winding-down the furlough scheme

25/05/2020

Without a doubt, the furlough scheme has provided small businesses with the means to retain staff that would otherwise have been laid-off. The government is paying 80% of furloughed employees’ wages (subject to a £2,500 maximum). From 1

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Tax Diary June/July 2020

24/05/2020

1 June 2020 - Due date for Corporation Tax due for the year ended 31 August 2019. 10 June 2020 - The final date that employers can furlough staff for the first time 19 June 2020 - PAYE and NIC deductions due for month ended 5 June 2020. (If you pay

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Coronavirus Future Fund launched

20/05/2020

Last month, the Chancellor, Rishi Sunak, announced a number of measures to help innovative firms survive the Coronavirus pandemic. One of these measures was the launch of a special investment fund for high-growth companies impacted by the crisis,

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Maximum loan under CLBILS increased to £200m

20/05/2020

The scope of the Coronavirus Large Business Interruption Loan Scheme (CLBILS) is to be extended from 26 May 2020. The maximum loan size will be increased from £50 million to £200 million. Larger businesses will be able to benefit from

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Working safely during coronavirus

19/05/2020

The government has produced guidance to help employers, employees and the self-employed in England understand how to work safely on their return to work during the coronavirus pandemic. The so-called “COVID-19 Secure” guidance currently

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Guidance for employers on workplace testing

19/05/2020

The Information Commissioner’s Office (ICO) has published guidance for employers on workplace testing during the coronavirus pandemic. It covers the extent to which employers can carry out tests on staff on their return to work to see if they

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Trade credit insurance guarantee

19/05/2020

Trade credit insurance is a contract acquired by suppliers to make sure they get paid even if their customers default. This gives businesses the confidence to trade with one another and is especially important as the COVID-19 pandemic continues to

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