The self-employed can claim Government support of up to 80% of profits during the initial month-long lockdown in England, Chancellor Rishi Sunak has confirmed. Like previous tranches, the third taxable grants available through the self-employed income support scheme (SEISS) covers three months – from 1 November 2020 to 31 January 2021. The [...]
The Government has extended the furlough scheme for employers until 30 November 2020, as a second lockdown in England looms to slow the resurgence of COVID-19. Hours before the initiative was due to close on 31 October 2020, plans for the job support furlough scheme to start from 1 November 2020 were [...]
Ministers are reportedly considering halting plans to implement the planned national living wage increase from next spring. The national living wage, which is currently set at £8.72 until 31 March 2020, is the lowest hourly rate paid to anyone over 25. Chancellor Rishi Sunak said in this year’s Spring Budget that “forecasts [...]
New support measures & loans for businesses and workers have been announced in the face of a rising tide of coronavirus. A job support scheme or loans will replace the furlough scheme from 1 November 2020, initially until 30 April 2021. Government and employers will subsidies the pay of employees working fewer [...]
The temporary increase to the annual investment allowance should be extended, according to the Association of Tax Technicians (ATT). The allowance enables firms to fully offset the cost of qualifying capital items of plant and machinery against taxable profits. Since 1 January 2019, businesses have received faster tax relief for plant and [...]
Up to £3.5 billion in payments made to employers under the furlough scheme might have been fraudulently claimed or paid in error, HMRC has said. The scheme was launched at the height of the coronavirus pandemic in April 2020 and paid 80% of furloughed workers’ wages, up to £2,500 a month. More [...]
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