NEWS & UPDATES IN THE ACCOUNTING WORLD

CORONA VIRUS JOB RETENTION SCHEME

22nd May

If you pay your employees at the end of the month it is time to make the next application.

Remember the pensions and NIC element of your claim and allow for the employers allowance if you claim it.

The calculations are not easy and need to be prepared carefully before you start. There is currently no method of correcting errors but HMRC are developing a process for this.

Payments are being made within 6 working days.

This is the link to HMRC page to begin the claim:

https://www.gov.uk/guidance/claim-for-wages-through-the-coronavirus-job-retention-scheme

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SELF EMPLOYED INCOME SUPPORT SCHEME

22nd May

HMRC have, once again produced a great section on their website for making this claim.

Applications opened on 13th may and the first funds have been paid.  remember to make your claim.

You will need a government gateway, your unique tax reference number and your NI number to apply.

https://www.gov.uk/government/news/self-employed-invited-to-get-ready-to-make-their-claims-for-coronavirus-covid-19-support

ADDITIONAL GRANTS

May 22nd

HMRC are now offering additional grants for small businesses with property costs that have not benefited from the rates grants.

The local authority is administering these grants and there is an application process.

https://www.gov.uk/government/news/top-up-to-local-business-grant-funds-scheme

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