Help is on the way:  The Coronavirus Self Employment Income Support Scheme

by Steve Wiltshire This week, HMRC will begin to contact people who may be eligible for the Self-Employment Income Support Scheme (‘SEISS’). The scheme, which will provide a taxable grant worth 80 per cent of a self-employed individual’s average trading profits up to a maximum of £7,500, will be paid in a lump sum by … Continue reading Help is on the way:  The Coronavirus Self Employment Income Support Scheme

Coronavirus Job Retention Scheme Portal – it’s Live!

by Emma Hooper The Coronavirus Job Retention Scheme went live yesterday, with over 140,000 businesses applying for the support within 24 hours. The scheme is available for businesses that, as a result of Covid-19, cannot maintain their current workforce and would be forced to make employees redundant as a result. These employees need to be … Continue reading Coronavirus Job Retention Scheme Portal – it’s Live!

Entrepreneurs’ Relief – a change of direction ahead

By Mel Hackney Entrepreneurs' relief (ER) is a relief applied to the sale of certain business assets or shares under qualifying circumstances. The relief is generous; any taxable gain generated is taxed at 10% rather than 18% or 28%. A common example of when this may arise is when closing a company down and extracting … Continue reading Entrepreneurs’ Relief – a change of direction ahead