The new Self-Employed Income Support Scheme is designed to support the self-employed who have been adversely affected by the Coronavirus, whereby the government will pay a taxable grant worth 80% of their average monthly profits over the last 3 years, up to a maximum of £2,500 a month. The details: The Self-Employed Income Support Scheme is open to any self-employed with income up to £50,000 w…
Read MoreUnder the Coronavirus Job Retention Scheme, all UK employers will be able to access support to continue paying part of their employees’ salaries for those employees that would otherwise have been laid off during this crisis. What it means: • HMRC will reimburse 80% of furloughed workers wage costs, up to a cap of £2,500 per month. • HMRC is working urgently to set up a system for reimbursem…
Read MoreLegislation will be introduced to allow small and medium sized businesses and employers to reclaim Statutory Sick Pay (SSP) paid for sickness absence due to COVID-19. The eligibility criteria for the scheme will be as follows: The refund will cover up to 2 weeks’ SSP per eligible employee who has been off work because of COVID-19. The government will refund £94.25 per week, maximum £188.50, t…
Read MoreWe are in extraordinary times and we want to support you and your business as much as possible during this period. We’ve put together a business round-up with advice and updates on a number of key areas to help you navigate the confusion. We cover: Business Finance– VAT & Income Tax Payments Deferral– Business Interruption Loans– Job Retention Scheme– Statutory Sick Pay– Self-Employe…
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