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CORONAVIRUS UPDATE – STAFF HOLIDAY ENTITLEMENT

By |July 30th, 2020|Uncategorised|Comments Off on CORONAVIRUS UPDATE – STAFF HOLIDAY ENTITLEMENT

The period of lockdown and beyond has meant that many staff have not taken much in the way of holiday this year, either because they cannot travel or they are on furlough. We thought it would be useful to share what the government have released on the subject. This should not be construed to […]

Coronavirus Update – 9 July 2020

By |July 30th, 2020|Uncategorised|Comments Off on Coronavirus Update – 9 July 2020

The following measures were announced by the Chancellor yesterday.

Job retention bonus
The government will introduce a one-off payment of £1,000 to UK employers for every furloughed employee who remains continuously employed through to the end of January 2021. Employees must earn above the Lower Earnings Limit (£520 per month) on average between the end of […]

CORONAVIRUS – UPDATE OF GOVERNMENT MEASURES

By |June 24th, 2020|Uncategorised|Comments Off on CORONAVIRUS – UPDATE OF GOVERNMENT MEASURES

Coronavirus Job Retention Scheme (Furlough)
The scheme is changing:
Flexible furloughing
From 1‌‌ July 2020, you’ll have the flexibility to bring previously furloughed employees back to work part-time – with the government continuing to pay 80% of wages for any of their normal hours they do not work up until the end of August. This flexibility comes a […]

HOW TO CLAIM THE SELF EMPLOYED CORONAVIRUS GRANT

By |June 24th, 2020|Uncategorised|Comments Off on HOW TO CLAIM THE SELF EMPLOYED CORONAVIRUS GRANT

As we mentioned in yesterday’s newsletter, inexplicably, HMRC have announced that the self-employed cannot ask their Accountant to make the claim on their behalf.

To make the claim you have to have your own government gateway account. Most of you will not have one, as we normally access your affairs for you via our government […]

Coronavirus Bounce Back Loan Scheme

By |May 5th, 2020|Uncategorised|Comments Off on Coronavirus Bounce Back Loan Scheme

 Reminder of the basics
This has been reported to be available from today. It is designed to plug the gap due to loss of income until lockdown is ended and/or business returns to normal.

The Bounce Back Loan scheme helps small and medium-sized businesses to borrow between £2,000 and £50,000. (Subject to a limit of 25% […]

Coronavirus Update 04/05/2020

By |May 4th, 2020|Uncategorised|Comments Off on Coronavirus Update 04/05/2020

Top-up to local business grant funds scheme
A discretionary fund has been set up to accommodate certain small businesses previously outside the scope of the business grant funds scheme. This is an addition to the premises based grants previously announced of £10,000 where full business rates relief applied or £25,000 for specific industries in retail, […]

CORONAVIRUS – BOUNCE BACK LOAN SCHEME

By |April 30th, 2020|Uncategorised|Comments Off on CORONAVIRUS – BOUNCE BACK LOAN SCHEME

Details of the recently reported new loan scheme have been released as follows.
Basic details

The Bounce Back Loan scheme will help small and medium-sized businesses to borrow between £2,000 and £50,000.
The government will guarantee 100% of the loan and there won’t be any fees or interest to pay for the first 12 months.
Loan terms will […]

Furlough Claims and Payments

By |April 30th, 2020|Uncategorised|Comments Off on Furlough Claims and Payments

Just to be clear-
1 – The grant you will claim will comprise of three parts –

80% of appropriate GROSS pay
Employers National Insurance on furloughed pay
Auto enrolment pension contributions on furloughed pay

2 – The furloughed pay is subject to PAYE and NIC, like normal pay and you will pay your furloughed staff […]

Job Retention Scheme- Furloughing Employees- Latest

By |April 30th, 2020|Uncategorised|Comments Off on Job Retention Scheme- Furloughing Employees- Latest

Scheme extended
The government have just announced that the scheme originally intended to be in place for 3 months March to May has been extended to 30 June.

Claim portal now open
This is now available from today and we have started to make the claims for furlough grants on behalf of the clients that we operate […]

JOB RETENTION SCHEME – FURLOUGHING EMPLOYEES

By |April 30th, 2020|Uncategorised|Comments Off on JOB RETENTION SCHEME – FURLOUGHING EMPLOYEES

Here are some updates and reminders on the above scheme.

Getting ready to make your first furlough grant claim

The online service we will all use to claim is not available yet. HMRC expect it to be available by 20th April.
If Bayliss Ware operate your payroll, rest assured we are gearing up to make the first […]

COVID-19: Company Directors & Shareholders

By |April 30th, 2020|Uncategorised|Comments Off on COVID-19: Company Directors & Shareholders

Many small companies are run by just one or two directors and have no other employees. What government financial support is available to director/shareholders during the coronavirus crisis?

A director or company officer is an employee for PAYE purposes, so a director cannot claim the COVID-19 Grant for the self-employed by virtue of holding […]

CORONAVIRUS UPDATE – 6 APRIL 2020

By |April 30th, 2020|Uncategorised|Comments Off on CORONAVIRUS UPDATE – 6 APRIL 2020

Sole directors and the Coronavirus Job Retention Scheme
There are over a million sole director/shareholder owner-managed limited companies in the UK who don’t qualify as self-employed individuals (although they will complete an income tax self assessment return). Typically, they take some remuneration through PAYE by way of salary, usually at a level just above the […]

CORONAVIRUS – UPDATE ON THE JOB RETENTION SCHEME FOR FURLOUGHING EMPLOYEES

By |April 22nd, 2020|Uncategorised|Comments Off on CORONAVIRUS – UPDATE ON THE JOB RETENTION SCHEME FOR FURLOUGHING EMPLOYEES

The awaited detail of how the scheme will work has been released by the government. We set out the further appropriate detail to update our earlier newsletter on the subject.

When will the grants be available?
We expect the scheme to be up and running by the end of April. Hopefully this will coincide with the […]

CORONAVIRUS UPDATE – SUPPORT FOR THE SELF EMPLOYED

By |March 29th, 2020|Uncategorised|Comments Off on CORONAVIRUS UPDATE – SUPPORT FOR THE SELF EMPLOYED

Self-employment Income Support Scheme
The Self-employment Income Support Scheme (SEISS) will support self-employed individuals (including members of partnerships) who have lost income due to coronavirus (COVID-19).
This scheme will allow you to claim a taxable grant worth 80% of your trading profits up to a maximum of £2,500 per month for the next 3 months. This […]

CORONAVIRUS UPDATE – GOVERNMENT JOB RETENTION SCHEME

By |March 29th, 2020|Uncategorised|Comments Off on CORONAVIRUS UPDATE – GOVERNMENT JOB RETENTION SCHEME

We set out current known facts concerning the potential furloughing of staff during the outbreak, with some practical advice

Here is what the government are currently saying:
Support for businesses through the Coronavirus Job Retention Scheme
Under the Coronavirus Job Retention Scheme, all UK employers will be able to access support to continue paying part of their […]

Coronavirus Update- VAT Payments

By |March 29th, 2020|Uncategorised|Comments Off on Coronavirus Update- VAT Payments

This is an important note for any VAT registered businesses that wish to take advantage of the government offer not to pay their VAT falling due in the period 20 March 2020 to 30 June 2020.

If you choose to do that but pay by direct debit, HMRC have said that you need to cancel […]

Coronavirus Update 23/03/2020

By |March 29th, 2020|Uncategorised|Comments Off on Coronavirus Update 23/03/2020

We set out the current and updated package of measures introduced by the government to support businesses through the crisis.

A summary of these is as follows.

a Coronavirus Job Retention Scheme
deferring VAT and Income Tax payments
a Statutory Sick Pay relief package for SMEs
a 12-month business rates holiday for all retail, hospitality, […]

Coronavirus Update-18/03/2020

By |March 29th, 2020|Uncategorised|Comments Off on Coronavirus Update-18/03/2020

LATEST PACKAGE OF SUPPORT FROM THE GOVERNMENT FOR BUSINESSES
The government has unveiled a £350 billion package of financial measures to shore up the economy against the coronavirus impact.

The Chancellor said –

“That means any business who needs access to cash to pay their rent, their salaries, suppliers or purchase stock will be able to access […]

Bayliss Ware Working from Home

By |March 29th, 2020|Uncategorised|Comments Off on Bayliss Ware Working from Home

In line with government advice regarding the Coronavirus outbreak, we have taken the decision to work from home from Wednesday 18 March until further notice. Therefore, from then we will not be available in the office for visitors.

Beyond that it will be business as usual. We would like to reassure you that we have […]

BUDGET SUMMARY – MARCH 2020

By |March 29th, 2020|Uncategorised|Comments Off on BUDGET SUMMARY – MARCH 2020

BUDGET SUMMARY – MARCH 2020
Here are the points arising in the budget that we would like to draw to your attention. Our full budget report will be available in the coming days.
Entrepreneurs Relief
It was widely reported that this valuable relief might be abolished. It was claimable on appropriate lifetime gains up to £10 million. […]

Coronavirus Support

By |March 29th, 2020|Uncategorised|Comments Off on Coronavirus Support

Government Announcement
The government announced a package of measures in the budget to support businesses through the coronavirus crisis. The Chancellor recognised that many businesses will be affected by an interruption in trading and loss of staff due to illness or self-isolation. We would summarise the measures as follows –
Statutory Sick Pay
This is currently paid […]