HMRC’s guidance on the Coronavirus Job Retention Scheme has been updated a number of times as the workings of the scheme evolve. The most recent update, on 29 May 2020, followed an announcement by the Chancellor, Rishi Sunak.
The Chancellor
Recent statistics published by HM Treasury confirm that £22bn of Bounce-Back Loans have been taken up by 700,000 small businesses across the UK. That is an average loan of approximately £31,000 per business.
As these loans are limited to
The recent news that the lockdown is being eased for certain businesses is good news. Unfortunately, there are many other businesses that are still closed and unable to trade.
And there is always a background risk that any relaxation of the lockdown
Self-Employed Income Support Scheme (SEISS)
No doubt due to recent lobbying by the press and other interested support groups, the Chancellor has extended the SEISS for a final three-month period to 31 August 2020.
This means that the self-employed
Advisory fuel rates are intended to reflect actual average fuel costs and are updated quarterly. The rates can be used by employers who reimburse employees for business travel in their company cars or where employees are required to repay the cost of
HMRC has published a new press release that provides some advice for people choosing to give up their income to support their business or donate to charity during the Coronavirus (COVID-19) pandemic.
Employers, directors and employees have several
HMRC is responsible for the money laundering supervision of a number of businesses including estate and lettings agents. Estate agency businesses that HMRC is responsible for supervising should be aware of the requirement to register with HMRC and
The Chancellor, Rishi Sunak has made a further Treasury Direction under sections 71 and 76 of the Coronavirus Act 2020 concerning the Coronavirus Job Retention Scheme (CJRS).
The CJRS currently helps employers furlough their employees with
An Employee Car Ownership Scheme (ECOS) is a set of arrangements whereby employees acquire cars from a specified, often single source and within a specified financing framework. The use of an ECOS can effectively be seen as a halfway measure between
HMRC has updated its guide for employers who have employees working from home due to the COVID-19 outbreak. This could be a result of the workplace being closed or because employees are following government advice to self-isolate.
The updated