The Oncoming Storm. How the construction industry must prepare for IR35
The Oncoming Storm. How the construction industry must prepare for IR35 As we slowly and painfully extricate ourselves from lockdown and look at the world around us. Many of our hopes and dreams have been delayed. Unfortunately, there are still some things that irrevocably moving forward despite this. As I write all available information suggests […]
What is IR35? and What is its impact on Private Hire?
What is IR35? and What is its impact on Private Hire? What is IR35? and What is its impact on Private Hire? Normally a subject which is only really relevant to larger operators and their sub-contractors, this will impact itself in on those of you who are also micro businesses, limited companies or do […]
Second SEISS grant explained
To qualify for the second SEISS grant the business must be adversely affected by the coronavirus pandemic on or after 14 July 2020. The online portal will open for the second SEISS grants on 17th August 2020. The amount of the grant will be calculated at 70% of the taxpayer’s annual average profits, capped at […]
Coronavirus Financial Assistance Updates June 15 – Self-employed
Self-Employment Income Support Scheme HMRC has also updated their guidance on the Self-Employment Income Support Scheme, (SEISS) with further details on terms for claiming a second grant in August. The big news for drivers is: Self-Employment Income Support Scheme will be extended – with those eligible able to claim a second and final gran. Those […]
Self-employed coronavirus financial assistance news
The big news for the self-employed is: Self-Employment Income Support Scheme will be extended – with those eligible able to claim a second and final grant. Those eligible will be able to claim a second and final grant in August. The grant will be worth 70% of average monthly net profit. To be paid out […]
How to claim for the Self-Employment Income Support Scheme
It has come to our attention that you will need a Personal Tax Account to be able to access the Self-Employment Income Support Scheme. Please find here instructions on how to set up a Personal Tax Account, if you don’t already have one. If you do, you will have a 12 digit Gateway code and your […]
Government ‘bounce back’ loans
On 27 April, the Chancellor announced a new loan scheme which is aimed at supporting micro-businesses. A micro business is usually defined as a very small business that can be a company or a sole trader. In general, it must have any 2 of the following: a turnover of £632,000 or less. £316,000 or less on its […]
Tax reliefs to support homeworking during the coronavirus situation
Homeworking allowance The homeworking allowance was increased at the Spring Budget from £4 to £6 a week (or £26 a month) with effect from 6 April 2020. An employer can pay this fixed sum, tax-free and NIC-free, to meet the additional costs an employee incurs working at home under homeworking arrangements. Homeworking arrangements mean an agreement […]
Self employed income support scheme
Summary of provisions as per the Chancellor’s announcement Prepared by Eazitax 17.23 26/03/2020 Coronavirus Payment Scheme Pay-out of 80% of Average Monthly Profit of the last 3 years up to £2,500. For those under 3 years will look at 2 or 1 year but not less. For self-employed up to £50,000 profit You must have […]
The Eazitax emergency blog
Let’s start with the fact that as we go to press the COVID-19 virus is just really taking hold in the UK and a lockdown is underway. So, we can’t avoid talking about it because from a business perspective, over and above the human tragedy, the main thing I have been dealing with is the […]
