Category Archives: Uncategorised

Self-Employed Income Support Scheme

The long-awaited statement from the Chancellor, Rishi Sunak regarding COVID-19 support for the self-employed has been announced. The Chancellor said that the scheme will benefit some 95% of people whose main income source is derived from self-employment.

A list of the scheme features as announced, and published, are as follows:

  • Those that qualify will receive a cash...
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Support with paying your taxes

Further support to businesses and the self-employed, to delay the payment of various taxes was announced last week. They include:

VAT

Any VAT that falls due for payment in the period from 20 March 2020 to 30 June 2020 can be deferred until the end of the 2020-21 tax year.

This is not a cancellation of any liability...

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80 percent of your staff wages paid by government?

As one of the additional measures to support businesses affected by the Coronavirus outbreak, Rishi Sunak announced last week that HMRC is to step in and pay up to 80% of furloughed staff wages up to a monthly maximum of £2,500 per employee.

Initially, this sounded as if HMRC was going to underwrite 80% of our...

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COVID-19 BUSINESS SUPPORT UPDATE

On Friday, the Chancellor went significantly further than in the history of this great country, with a series of unprecedented announcements in the Government’s support of businesses, employees and individuals.

The range of measures for UK businesses is significant and now includes the following:

  • a Coronavirus Job Retention Scheme
  • deferring VAT and Income Tax payments
  • a Statutory Sick Pay...
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Government support for small businesses if affected by the COVID-19 outbreak

There were a number of reliefs in the recent budget to support small business owners during the present Coronavirus outbreak. We have listed below some of the issues covered in a recent government news item.

Statutory sick pay (SSP)

The government will bring forward legislation to allow small- and medium-sized businesses and employers to reclaim Statutory Sick...

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The Latest Measures to Support Businesses

The Chancellor, Rishi Sunak, outlined a raft of further measures to support the UK’s ailing businesses, those affected by the forbidding COVID-19 outbreak. The list that follows summarises his announcements in the order they were announced:

 

  • The Treasury are making available £330bn of loan guarantees. These guarantees will underpin government backed bank loans on attractive terms....
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Government support for individuals if affected by the COVID-19 outbreak

The government has published a number of measures to support individuals during the current Coronavirus outbreak. We have summarised below some of the issues covered in a recent post-budget press release.

Statutory Sick Pay

Statutory Sick Pay (SSP) will now be available for eligible individuals diagnosed with COVID-19 or those who are unable to work because they...

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Spring Budget 11 March 2020

In the face of Brexit uncertainties and the recent Coronavirus outbreak the new Chancellor, Rishi Sunak, was faced with falling economic indicators, the need to boost NHS services and was consequently limited in his options to spend on plans to improve business confidence and fund infrastructure projects.

Interestingly, there were a number of measures that will...

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Self-employed v Employed

Many employed persons are drawn to the idea of running their own business. This short article sets out a few of the pros and cons of this change in status.

The advantages:

One of the major advantages of being self-employed is the opportunity to secure more than one income stream. When employed, we normally work for one...

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How will the Chancellor address Coronavirus issues?

Most pundits agree that the growing disruption posed by the Coronavirus outbreak combined with continuing Brexit uncertainty – exactly what will our trading relationship with the EU be from January 2021 – are likely to have a dampening effect on demand and supply; a combination that will lead to a slow-down in global economic activity.

It...

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