30 Jul 2021

The eligibility criteria for the fifth SEISS grant have been further tightened. Claimants are being contacted now, by HMRC, by email or letter, setting out when a claim can be made.  Applications for this grant open late July and close 30th September 2021. We look at what you need to be aware of:   Do I Qualify For The Scheme? You are eligible to claim if you are a...

14 Jun 2021

Business owners can now apply for ongoing access to financial support as they recover and grow following the coronavirus pandemic. The scheme can be used for any legitimate business purpose, including managing cashflow, investment and growth. It is designed to appeal to businesses that can afford to take out additional debt finance for these purposes. The Scheme is scheduled to run...

22 Mar 2021

In the latest Budget, the Government announced details of who can claim the fourth SEISS grant and the level that claims can will be paid out at.  Some significant changes have been introduced for the fourth grant, please take a moment to consider them:   If You Already Qualified For The Third Grant The fourth SEISS grant will be set at 80% of 3 months’ average tra...

22 Mar 2021

The Coronavirus Business Interruption Loan Scheme (CBILS) set to close for applications at the end of March 2021. If you intend to make an application for a CBILS loan you must ensure that your Bank / chosen financier has lodged your application by 31st March 2021. If your claim is not acknowledged by the Bank by that date, you will no longer be eligible for the scheme – so there ...

22 Feb 2021

HMRC announced this week (on Friday 19th February 2021) that Self Assessment customers will not be charged the initial 5% late payment penalty if you pay your tax or make a Time to Pay arrangement by 1‌‌ April 2021.   So What Exactly Has Changed? The deadlines to file your tax returns have not changed, but a concession has been introduced to extend by one month the ti...

15 Feb 2021

HMRC have announced the launch date for their new VAT deferral payment scheme. We detail below how to make use of the scheme and the other options that you currently have to settle the liability.   What Are My Options? If you deferred VAT between 20 March and 30 June 2020 and still have payments to make, you can: pay the deferred VAT payment in full on or before 31 Mar...

25 Jan 2021

HMRC has announced today that there will be no penalties for filing the 2019-20 Self Assessment Tax Return late, so long as they are filed online by 28‌‌ ‌February.   You will still need to pay your Self Assessment tax bill by 31‌‌ ‌January 2021; if you fail to do so then Interest will be charged from 1‌‌ ‌February on any outstanding liabilities, and Other late payment...

24 Jan 2021

Claims for the third SEISS grant must be submitted by 29 January 2021.  The timing of the deadline for claims for the third Self Employment Income Support Scheme (SEISS) grant is perhaps unfortunate, clashing as it does with the self assessment filing deadline.  Some additional considerations were introduced for the third grant, please take a moment to consider them:   The ...

24 Jan 2021

As the deadline looms for VAT deferred between 20 March and 30 June 2020 to be paid, we detail below the options that you currently have to settle the liability. Essentially, you can pay now or get ready to opt in to the VAT deferral new payment scheme   What Are My Options? If you deferred VAT between 20 March and 30 June 2020 and still have payments to make, you can: ...

21 Dec 2020

Quite aside from how your Family Christmas plans have been affected by COVID-19 , the Chancellor has been busy trying to put stepping stones in place to support business contend with tough conditions for what seems likely to continue for some months to come   Coronavirus Job Retention Extended Again In a surprise move, the Chancellor has announced that the Coronavirus Job Retention ...

Barrons has put together a helpful guide to running your business during the coronavirus crisis.