Changes to furlough scheme
Emily Kilshaw • July 14, 2020
You can now submit your claim for July
The Coronavirus Job Retention Scheme will close on 31 October 2020.
From 1 July, employers can bring furloughed employees back to work for any amount of time and any shift pattern, while still being able to claim CJRS grant for the hours not worked.
From 1 August 2020, the level of grant will be reduced each month.To be eligible for the grant employers must pay furloughed employees 80% of their wages, up to a cap of £2,500 per month for the time they are being furloughed.
https://www.gov.uk/government/publications/changes-to-the-coronavirus-job-retention-scheme/changes-to-the-coronavirus-job-retention-scheme
The new deemed employment rules for IR35 have now come into play. If you have a personal service company and have been caught by these new rules and you need help filing your companies accounts & tax return, please get in touch.
The reverse charge for VAT came in on the 1st March 2021 for the construction industry. Are you ready or do you need help with this change. Contact us to find out more & how we can help get you underway.
HMRC has postponed the £100 penalty for late submission of 2019/20 personal tax returns, as long as the return is submitted by 28th February 2021. However they will still charge interest on any tax which is due. Therefore, if you haven't already done your personal tax return, the sooner you get it done and submitted the better. Contact us for advice and assistance on your personal tax return.
