Garden Office Tax Implications
Garden Office Tax Implications Investing in a home office with a garden shed upgrade or working pod makes sense for home workers, but there are a number of tax issues to consider As the Coronavirus pandemic hit and lockdowns were imposed more and more people began to work from home. This has created lots of […]
Autumn Budget 2021 – Budget Brochure
Autumn Budget 2021 – Budget Brochure The Chancellors autumn budget was released on Wednesday 27 October 2021. Whilst a lot of the budget was known before the official announcement there was a lot more detail released on the day. It remains to be seen how the country will financially recover from the Coronavirus pandemic, but […]
End of the road for Furlough
As we reach the final days of September, we prepare for the closure of the ground breaking Coronavirus Job Retention Scheme (CJRS). The one-of-a-kind scheme launched by Rishi Sunak back in March 2020, has been a lifeline for millions of businesses and employees. The scheme has seen several variations and numerous extensions. Most recently the […]
Paying back a false SEISS claim
The Self-Employment Income Support Scheme (SEISS) provided financial support for self-employed individuals who experienced a reduction in profits due to the coronavirus pandemic. However, the scheme was subject to a lot of dishonesty; people were claiming SEISS payments, despite their business not experiencing a reduction in profits. You must tell HMRC if, when you made […]
Coronavirus Job Retention Scheme (CJRS) changes: August 2021
As national restrictions due to coronavirus have been lifted, from 01 August 2021, the CJRS will become less generous, and employers will be asked to contribute more towards the cost of furloughed employees’ wages. To be eligible, you must continue to pay your furloughed employees 80% of their wage for hours not worked. However, from […]
Limited businesses can now apply for exemption to self-isolation
Throughout the pandemic, the NHS track and trace app has been a fantastic tool to tell people, who have potentially been in contact with coronavirus, that they need to isolate. However, as cases begin to rise due to the easing of social distancing restrictions, more than 600,000 people in England and Wales were sent self-isolation […]
Rising inflation – what does that mean for UK businesses?
The covid-19 pandemic has affected all aspects of life as we know it. As we are hopefully emerging from the worst of its social impacts, we are now faced with potentially crippling economic effects caused by the proliferating borrowing throughout the pandemic. In this article we will discuss inflation and what this could mean for […]
Ready for a SEISS Challenge: Information about Penalties and Claims
As coronavirus support undergoes HMRC scrutiny, we summarise the checks and possible sanctions the self-employed need to look out for when applying for the latest self-employed income support scheme grant (SEISS). The Treasury has provided HMRC with substantial resources to recover wrongly claimed coronavirus support payments, expecting to recoup over a third of grants made. Proving […]
SEISS Fourth Grant – Am I Eligible & How Much Can I Claim?
If you are self-employed and your business has been negatively impacted by the covid-19 pandemic, you could be eligible for the fourth grant of the Self-Employment Income Support Scheme. To make your claim for the fourth grant, you must do so on or before 1 June 2021. This grant will cover the period […]
Bounce back loan borrowers now able to delay repayments for another 6 months
The Chancellor has announced that businesses which took out government-backed Bounce Back Loans will now have greater flexibility to repay their loans. Those who took out bounce back loans as a result of the covid-19 pandemic will now have the option to delay all repayments for a further 6 months, thanks to the ‘Pay as […]
