By Emma Hooper Once again the rules regarding furlough and how to support your employees have been updated – are you aware of the latest guidance? On 5 November 2020 the chancellor announced that the original Job Retention Scheme will be extended until March 2021, meaning that employees who have been placed on furlough will … Continue reading Let’s go round again
By Mel Hackney This year could be more important than ever to know what liabilities you may face in January, with many businesses and individuals facing cash flow issues due to Covid. HMRC announced in March 2020 that they would waive interest on the taxpayer delaying their second payment on account towards 2020/21 tax year … Continue reading Take your time, hurry up
By Emma Hooper The Job Retention Scheme (JRS) is coming to an end on 31 October and will be replaced with a new wage subsidy scheme called the Job Support Scheme (JSS). The JSS will begin on 1 November 2020 and will run for 6 months, aiming to support employees and businesses by topping up … Continue reading The Job Retention Scheme is ending – now what?
by Steve Wiltshire I mowed my lawn last week. Amidst all the gloom surrounding the crisis currently facing the world, how lovely it has been to see some sunshine over the last few weeks. I love this time of year, when lighter evenings and brighter, warmer days make us feel more inclined to be out … Continue reading The grass really is greener on the other side
By Mel Hackney In the past, whenever a client has posed the question “….and how about a company car?” (usually with a hopeful glint in their eye), I have always been pretty quick to quash their dream of a sparkling new Jaguar, paid for by their company, being a brilliant, tax efficient benefit of business … Continue reading I like driving in my car (it’s not quite a Jaguar)
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
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!
By Emma Hooper The Government has announced a temporary change to VAT payments as a way to help businesses manage cash flow during this difficult time. Any VAT liabilities becoming due between 20 March 2020 and 30 June 2020 can now be deferred, with payment needing to be settled on or before 31 March 2021. … Continue reading Coronavirus: deferral of tax payments
by Lydia Westmore The outbreak of Coronavirus will inevitably impact all of our businesses. In the short term, the current situation is likely to have a significant impact on cash flow, with loss of revenues and productivity. Government support for impacted businesses is coming, but careful management of your short-term cash flow is essential for … Continue reading Coronavirus: Managing your cash flow
In these uncertain times, we want to reassure you that Frost Wiltshire remains open for business and available to help you. As a paperless business with robust IT arrangements for remote working, we are confident that we can continue to provide an excellent service to our clients, with minimal disruption as all members of the … Continue reading A message of reassurance