by Karen | Aug 17, 2020 | Accounting, Covid-19, HMRC
Claims for the second grant under the Self-Employment Income Support Scheme (SEISS) can be made from today, the 17th of August 2020 onwards. Who can claim? A self-employed individual or member of a partnership who meets the eligibility criteria and whose business has...
by Karen | Jul 28, 2020 | Accounting, Covid-19, HMRC
To help employees out during the Covid-19 pandemic, employers may provide ‘hardship’ loans to employees. Where loans are provided, what are the tax implications? No special rules There are no special relaxations to deal with loans provided to help employees meet...
by Karen | Jul 23, 2020 | Accounting, Covid-19, HMRC
HMRC may allow an appeal against a penalty if the taxpayer has a ‘reasonable excuse’ for why, say, they filed a return late or paid their tax late. A ‘reasonable excuse’ is something that prevented a taxpayer from meeting a tax obligation despite the fact that they...
by Karen | Jul 20, 2020 | Accounting, Covid-19, HMRC
Various Covid-19 support payments are available to individuals and businesses to help mitigate the effects of the Covid-19 pandemic. Are the payments taxable and how should they be treated? Payments under the Coronavirus Job Retention Scheme? Grants payments made...
by Karen | Jul 2, 2020 | Accounting, Covid-19, HMRC
The new CJRS “Flexible furlough” grant scheme started yesterday, which will allow employers to gradually bring their furloughed employees back to work part-time. The new scheme will be in place until the end of October and the Government will gradually reduce the...
by Karen | Jun 15, 2020 | Accounting, HMRC, Self Assessment
To help those suffering cash flow difficulties as a result of the Covid-19 pandemic, the Government have announced that self-assessment taxpayers can delay making their second payment on account for 2019/20. The payment would normally by due by 31 July 2020. Under...
