Payroll update: March 2019

Further to my blog on 22 June 2020 (please see below), just a reminder that the deadline for applying for the first SEISS grant is 13 July.   Those eligible under the Self-employment Income Support Scheme (SEISS) will be able to claim a second and final grant in August 2020.The grant will be worth 70%…

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As part of the Government’s measures to try to stimulate the economy, the Chancellor has announced a reduction in the rate of VAT payable by the hospitality and tourism industries.   From 15‌‌‌ ‌July 2020 until 12‌‌‌ ‌January 2021, the rate of VAT will be reduced to 5% on any eat-in or hot takeaway food…

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As we all slowly unwind from Coronavirus lock-down and the end of furlough support rapidly approaches, Chancellor Rishi Sunak has taken the unusual step of making fiscal announcements in the Summer, to try and head off a recession. New initiatives, of interest to SME’s, include:   Job Retention Bonus – £1,000 bonus paid per employee…

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Your tax code can be confusing but it is extremely important to understand. That small string of numbers and letters informs your employer or pension provider how much tax free allowance you are entitled to.   An incorrect code will have very real consequences. If too much tax is being deducted from your monthly income,…

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Many taxpayers who are required to file a self-assessment tax return to HM Revenue & Customs should now be preparing for their next half-yearly tax payment which is due by 31st July. The amount payable is the second payment-on-account for the 2019/20 tax year and is automatically calculated as half of the total tax liability…

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Many of the charities we support have been concerned about the impact of Coronavirus, and have understandably had many questions with regards to support and how to manage the charity.   Below is some of the latest government guidance (as of 26th June 2020) with regards to some of the most frequently asked questions that…

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