As part of the new incentives to financially aid those negatively impacted due to the ongoing COVID-19 pandemic, the Chancellor released details of newly implemented schemes to ease the financial burden of decreased demand and restricted trading in this difficult economic period. Therefore, please find outlined below details relating to the Self-Employment Income Support Scheme…
31st October 2020 was originally the milestone date when the Government planned to cease to support businesses, including the end of the furlough scheme. However, in recent weeks the Government has extended the support schemes in place, inclusive of announcing a replacement to the furlough scheme; namely the Job Support Scheme. The Chancellor unveiling additional…
Today, Chancellor Rishi Sunak highlighted the Government’s Winter Economy Plan to support businesses during the coming six-months against a backdrop of a second wave of coronavirus (COVID-19). The Chancellor highlighted that the furlough scheme would definitely end in its current form at the end of October 2020. However, new measures were outlined that will be…
Over the past few weeks and months, the Government have announced a number of additional measures to support both businesses and employers, but also to reduce the number of redundancies of employees that have been on Furlough. Also, we wanted to highlight some of the allowances available for employees working from home and to provide…
Are you eligible for second grant? Earlier this year the Government announced arrangements for the self-employed to potentially receive a grant to help mitigate the financial effects of COVID-19. The scheme allowed the self-employed, if eligible, to claim a taxable grant of 80% of your average monthly trading profits, paid out in a single…
Changes to the furlough scheme offer some respite for employers At the end of last month, nearly 10 million people from over 1 million employers were on the Government’s job retention, or furlough scheme. It has provided a vital lifeline for employees who might otherwise have been made redundant from companies during the recent lockdown…
On 8 July 2020, as highlighted in our previous post, the Chancellor, Rishi Sunak, announced a six-month reduction in the VAT rate on supplies of food and non-alcoholic drinks from restaurants, pubs, bars and cafés. The Chancellor also announced that the same VAT reduction would apply to supplies of accommodation and admission to tourist attractions.…
Today the Chancellor Rishi Sunak, provided a ‘mini summer Budget’, designed to get the country back on track and recover from the worst effects of COVID-19. The initial reaction to the Chancellor’s measures been mixed, some sectors have applauded the changes, but there has been a real lack of support for some badly affected sectors…
By Nikki Spoor, Travel, Audit and Tax Director at White Hart Associates The Government’s Coronavirus Job Retention Scheme is so far estimated to have cost the Treasury around £14bn per month and helped protect millions of jobs in the UK. However, there is a feeling that the furlough scheme, as it is called, is also…
A new Discretionary Grants Scheme has become available for those who were not able to access a grant in the first round of financial aid offered from the Government. This new fund will be provided by Local Authorities for businesses financially struggling. It is discretionary, so not definite, but might be worth investigating for your…
