HMRC has updated it's guidance for the Self Employment Income Support Scheme (SEISS)

Many individuals are starting to receive letters. Check if you can claim a grant through the Self-Employment Income Support Scheme

https://www.gov.uk/…/claim-a-grant-through-the-coronavirus-…

If you're self-employed or a member of a partnership and have been adversely affected by coronavirus (COVID-19) find out if you can use this scheme to claim a grant.
 
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If you're self-employed or a member of a partnership and have been adversely affected by coronavirus (COVID-19) find out if you can use this scheme to claim a grant.

 

Clap for the NHS

and all other key workers that are still working through this tough time.
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Scam Alert. 

We have posted this before but would like to remind everyone of the scam emails and calls going around.

Below is a recent email received "claiming" to be from HMRC stating you have a tax refund due and to click the link to claim it.

HMRC will NEVER call or email you regarding a tax refund or ask you to provide information in such a way.

Stay Safe

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Coronavirus Job Retention Scheme Portal

The HMRC has confirmed that the portal for making claims under the Government's Job Retention Scheme will open on 20 April.

If we currently act on your behalf for payroll services we will be in touch shortly.

If you run your own payroll you will need to make sure you have signed up for a 'PAYE Online for Employers account' to make your claim.

Job Retention Scheme update

The HMRC have now issued further updated guidance on the Job Retention Scheme. We have already covered a majority of these points but for anyone wishing to view them in more detail please follow the below link:

https://www.gov.uk/…/claim-for-wage-costs-through-the-coron…

Find out if you’re eligible and how much you can claim to cover wages for employees on temporary leave ('furlough') due to coronavirus (COVID-19).
 
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Find out if you’re eligible and how much you can claim to cover wages for employees on temporary leave ('furlough') due to coronavirus (COVID-19).

 

Happy Weekend everyone!

We hope you are all coping as well as possible during this difficult time, taking our recent posts on board and looking at what may apply to your particular scenario.

We would just like to take this time to thank all of our clients and non-clients for their continued support.

Together we will get through this!

Small Business Grants

HMRC's promised grants to small businesses are NOW AVAILABLE from your local council, your council should write to you but are also encouraging you to fill in an online form if you think you are applicable.

These grants are available to small businesses and those businesses in the retail, hospitality and leisure sectors:

•A grant of £10,000 for most businesses with a Rateable Value (RV) of up to £15,000
•Grants of £25,000 for businesses in retail, leisure and hospitality with a rateable value between £15,000 and £51,000.

We have shared details from Dudley Council but please check with your local council if you fall under a different area.

https://www.dudley.gov.uk/

All you need to know about 'Furloughed workers'

A Job Retention scheme has been launched enabling employees to receive 80% of their usual pay which is subject to Tax, NI, and Pensions and is treated exactly how normal pay would be treated. 

This is up to the value of £2,500 per month and employers can top up the remaining 20% if they wish to do so.

For an employee to be classed as 'Furloughed' they must remain on leave for a minimum of 3 weeks. At which point they can then return to work.

There can be multiple periods for furloughed workers and therefore employees can be furloughed a multiple times up to the maximum 3 months currently offered to 31st May.

You cannot undertake work for your employer while on furlough.

Limited company directors are entitled to the same as all other employee's and can furlough themselves and take 80% of their usual salary (Dividends are not included).

Read more: Furloughed Workers

Coronavirus Scams

This article covers the latest in Coronavirus scams, we are expecting a surge in these scams such as emails stating how to claim back grants available to your business and "click here to claim your grant" links. Please stay vigilant and always check if you're not sure.

 
Criminals are using the Coronavirus pandemic as an opportunity by some to con people out of money. Here are some of the scams you need to watch out for.
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Criminals are using the Coronavirus pandemic as an opportunity by some to con people out of money. Here are some of the scams you need to watch out for.

 


 

Queries we've dealt with so far..

Most of our queries today have been from individuals who trade through small limited companies and what they are entitled to.

The good news is that we have now had confirmation that the salary paid from from the business they can claim back at 80% per the announced employee route (Job Retention Scheme) if the business has had to stop trading and themselves had to stop work due to the coronavirus.

The bad news 'at the moment' is that only their directors' salary is being taken into account and no additional dividends drawn. There is currently no update on any extra help for individuals trading through limited companies with no premises but there is already a growing petition 'similar to the self employment' one gathering speed. 

We will keep you posted any any further updates.