News
Take care – Coronavirus fraud on the rise
03 April 2020
The Government has issued fresh warnings to members of the public and businesses about the potential for fraud related to the Coronavirus pandemic. Local authorities, police forces and specialist fraud organisations across the UK are issuing guidance to companies and individuals following a 400 per cent increase in fraud in recent weeks.
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Government updates guidance on small business and retail sector grant schemes
03 April 2020
The Government has published new guidance for local authorities on the small business and retail sector grant schemes. These are one of several measures introduced by the Government to help businesses that are most at risk of failure due to the actions taken to prevent the spread of the Coronavirus. As previously discussed in our...
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Government confirms that furlough rules do not leave employers at risk of breaching minimum wage rules
03 April 2020
The Government has confirmed in its guidance for the operation of the Coronavirus Job Retention Scheme (CJRS) that employers will not be at risk of breaching minimum wage rules where they opt not to top-up the wages of furloughed employees. The CJRS was announced by the Chancellor shortly before the Stay at Home rules came into effect...
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Newly appointed staff members will not benefit from the Coronavirus Job Retention Scheme
03 April 2020
Thousands of employees who have started a new job after the 28 February 2020 will not be able to benefit from the Coronavirus Job Retention Scheme (CJRS) and may need to be laid off or sacked to help businesses cut costs. To be eligible for the scheme, which covers 80 per cent of a furlough workers employment costs up to £2,500 per...
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Coronavirus support for people working through their own limited company
01 April 2020
If you work through your own limited company, you will no doubt have been disappointed to discover that the measures announced by the Chancellor last week for self-employed individuals do not apply to you. However, the guidance for the use of the Self-Employed Income Support Scheme (SEISS) advises that there may be two...
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Holiday rules relaxed to allow annual leave to be carried over to next two years
01 April 2020
The Government has announced that existing rules around annual leave will be relaxed to allow workers who have not used their statutory annual leave entitlement this year due to COVID-19 to carry it over into the next two years. Most full-time British workers are entitled to 28 days holiday each year, including bank holidays.
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Suspension of director liability for wrongful trading
01 April 2020
The Government has announced important changes to UK insolvency law that suspends director liability for wrongful trading. Seeking to provide reassurance to business directors in light of the ongoing COVID-19 pandemic, the Government has retrospectively suspended restrictions around wrongful trading from the 1 March 2020...
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Soft-landing period for MTD for VAT extended to April 2021
01 April 2020
HM Revenue & Customs (HMRC) has announced that the second phase of Making Tax Digital for VAT will now be postponed until 1 April 2021. The first year of MTD was subject to a one-year “soft-landing period”, which has seen HMRC holding back from pursuing businesses that should have signed up.
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The Coronavirus Jobs Retention Scheme and employers’ National Insurance and Pension contributions
01 April 2020
Much of the coverage of the Coronavirus Jobs Retention Scheme (CJRS) has focused on the Government’s commitment to cover the cost of 80 per cent of the usual wages of ‘furloughed employees’ – those who remain on the payroll but are not working. In fact, the CJRS will pay employers more than 80 per cent of an employee’s...
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What expenses are taxable when working from home?
01 April 2020
If any of your employees are working from home due to Coronavirus because your workplace has closed or you are following advice to self-isolate then you may be able to deduct some of the costs of home working as a taxable expense. The rules around expenses and whether or not they are taxable differs depending on the type...
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