Introduction of amnesty period for incorrectly claimed COVID-19 Government Support
The recent COVID-19 situation has been a very challenging time and Government support, most specifically the introduction of the Coronavirus Job Retention Scheme and the Self-Employed Income Support Scheme payments have been valuable for many affected companies and individuals. HMRC have become aware, however, that a number of businesses have made claims to receive support […]
Xero ready for the new VAT rates
Last week the chancellor announced a temporary cut in the VAT rate for certain supplies in the hospitality and tourism sector with the standard 20% rate is being reduced to 5% from 15 July 2020 until 12 January 2021. We’re pleased to say that Xero’s got the capabilities to apply these changes in product. The […]
Council discretionary business grants still available
Wigan Council have announced that there is still money left in their discretionary grant pot to support the borough’s businesses through the Covid-19 pandemic. More than 71 per cent of the small business grant scheme has now been allocated along with 50 per cent of the discretionary business grant. The Council have said they are […]
Chancellor Announces Plans to Boost the Economy in the Wake of Covid-19
The Chancellor, Rishi Sunak, has announced a wide-ranging package of measures to try to boost the shrinking economy and save jobs in his Summer Statement on 8 July. Specific measures announced include: Job Retention Bonus There was no extension to the furlough scheme which is winding down over the next few months and ending on […]
How your Covid-19 claims could affect your R&D tax credits
We are expecting HMRC to challenge future claims for Research and Development tax credits on the basis of claims made under the various Covid-19 support schemes. This is because subsidies and grants will affect eligibility for R&D tax credit claims. RDP has reviewed the main COVID-19 government assistance programmes and commented on this below. The […]
Vat deferral period ends soon
During the Covid 19 pandemic, HMRC has allowed VAT registered businesses to defer the payment of any VAT which fell due between 20th March and 30th June without incurring any interest or penalties. This period is now almost at an end and VAT due for periods ended on 31st May will need to be paid […]
Discretionary Business Grants: Details Released
A discretionary business grant fund has been made available to councils by the Government to support businesses which are NOT eligible for the Small Business Grant Funding (SBGF) or Retail, Hospitality and Leisure Grant (RHLG) but which have been affected by the Covid-19 outbreak. The SBGF and RHLG schemes are the one-off £10,000 or £25,000 […]
Extension to Self Employment Income Support Scheme (SEISS)
Rishi Sunak has announced that the Self-Employment Income Support Scheme will be extended, with those eligible able to claim a second and final grant capped at £6,570 Those eligible under the Self-Employment Income Support Scheme (SEISS), which has so far seen 2.3 million claims worth £6.8 billion will be able to claim a second and […]
Update to Coronavirus Job Retention Scheme
On 29 May, the Chancellor announced further details regarding the extension of the Coronavirus Job Retention Scheme (CJRS). The intention is now for the scheme to end on 31 October 2020, with changes being introduced from 1 July 2020 to allow more flexibility and from 1 August 2020 to gradually increase the level of employer […]
Furlough extension: What does it mean?
Extension to Coronavirus Job Retention Scheme (Furlough) The Coronavirus Job Retention Scheme (furlough scheme) has been extended to 31 October 2020. The scheme will continue in its current form until 31 July 2020. From 1 August 2020, employers will be able to bring employees currently on furlough back to work on a part-time basis if […]
