Coronavirus Financial Help Update June 15 – Companies
New information for your company and employees. New Updates on the Furlough Scheme There are changes to the scheme and key dates that you need to be aware of You can claim if you bring previously furloughed employees back to work part-time from 1 July (known as flexible furloughing) and how many employees you can […]
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 […]
Coronavirus Job Retention Scheme – CJRS
Company News From 1 July 2020, businesses will be given the flexibility to bring furloughed employees back part time. However you will decide the hours and shift patterns your employees will work, on their return. Therefore you can decide on the best approach for them, and of course will be responsible for paying their wages […]
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 […]
How Covid-19 affects you as a Limited Company and what assistance there is out there for you
Coronavirus Job Retention Scheme Under the new Coronavirus Job Retention scheme, government grants will cover 80% of the salary of PAYE employees who would otherwise have been laid off during this crisis. The scheme, open to any employer in the country, will cover the cost of wages backdated to 1 March 2020 and will be […]
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 […]
