Covid-19 Archives - Page 3 of 3

Sep 06 2020

Second SEISS Grant

By admin Covid-19, Grants, HMRC, Potts & Co Accountancy & Business Advice News, Self-Employed Income Support Scheme (SEISS)

Applications for the second self-employed income support scheme (SEISS) grant opened on 17 August. If you are self-employed and your business has been adversely affected by the COVID-19 pandemic on or after 14 July 2020 you can apply for the grant as long as you meet the following criteria: your…

Jun 22 2020

Off-payroll Working Deferred

By admin Covid-19, HMRC, IR35, National Insurance, PAYE, Personal Service Company (PSC), Potts & Co Accountancy & Business Advice News

Changes to the application of the IR35 rules (known as off-payroll working) were due to come into effect from 6 April 2020 but due to the COVID-19 pandemic, those changes have been deferred until April 2021. The reforms apply where a worker supplies his or her services through a personal…

Jun 21 2020

CIS Repayments

By admin Construction Industry Scheme (CIS), Covid-19, HMRC, Income Tax, Potts & Co Accountancy & Business Advice News, VAT

Subcontractors registered in the construction industry scheme (CIS) will normally have tax deducted from their invoices by the companies they work for. At the end of the tax year that CIS tax needs to be tallied up and set against the subcontractor's own tax liability. In most years once business…

Jun 20 2020

Working at Home Expenses

By admin Covid-19, Expenses, HMRC, Income Tax, National Insurance, Potts & Co Accountancy & Business Advice News

Many workplaces are currently closed and employees are working at home where possible to prevent the spread of COVID-19. This comes with advantages, not least avoiding the daily commute, but may also create costs for the employee such as additional power and water used whilst working. The employer can help…

Jun 19 2020

Grants from Local Authorities

By admin Business Rates, Covid-19, Grants, HMRC, Potts & Co Accountancy & Business Advice News

To help businesses struggling due to the COVID-19 lockdown, local authorities have been distributing grants of £25,000 or £10,000 to certain businesses which pay business rates on properties with a rateable value of less than £51,000. In addition businesses which qualify for rural relief or small business rates relief should…

Jun 18 2020

Help With Statutory Sick Pay

By admin Covid-19, HMRC, Potts & Co Accountancy & Business Advice News, Statutory Sick Pay (SSP)

If you have paid statutory sick pay (SSP) to employees who were unable to work because they had COVID -19 symptoms, or they self-isolated because someone in their household had such symptoms, you may be eligible to reclaim that SSP. In order to reclaim the SSP, all of these conditions…

Jun 17 2020

VAT Zero Rates

By admin Covid-19, HMRC, Potts & Co Accountancy & Business Advice News, VAT

There are three rates of VAT applicable to sales in the UK: standard 20%; reduced 5%, and zero 0%. Products and services are very rarely switched between different rates but on 1 May 2020 digital publications and personal protective equipment were switched from standard to zero rate VAT with immediate…

Jun 16 2020

Self-employed Grants

By admin HMRC, Potts & Co Accountancy & Business Advice News

If you are self-employed and your business has been adversely affected by COVID-19 you may be eligible to claim a grant from HMRC of up to £7,500. To qualify for this self-employed income support scheme (SEISS) you must meet all of these conditions: • you traded in 2018-19 and submitted…

Mar 19 2020

Help With Statutory Sick Pay

By admin Covid-19, HMRC, Potts & Co Accountancy & Business Advice News, Statutory Maternity Pay (SMP)

This Budget was dominated by Covid-19 as the Chancellor announced several measures to help businesses cope with the challenges presented by the new virus. The first was to make statutory sick pay (SSP) available for employees who are self-isolating from day one of their absence from work. Currently, there is…

Covid-19

Second SEISS Grant

Off-payroll Working Deferred

CIS Repayments

Working at Home Expenses

Grants from Local Authorities

Help With Statutory Sick Pay

VAT Zero Rates

Self-employed Grants

Help With Statutory Sick Pay

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