An insight from the gbac team on all things accounting, finance and more.
HIGHLIGHTS A £1,000 Job Retention Bonus will be introduced when the Coronavirus Job Retention Scheme ends for employees who have been furloughed. A new Kickstart Scheme will cover employers’ costs for new six-month work placements for trainees aged 16-24. A £1,000 payment will be made to employers for each 16-24-year-old on work placement and training. […]
HMRC is allowing your second self-assessment payment due on 31 July 2020 on account for the tax year 2019/20 to be deferred, due to the Covid-19 pandemic. This means no interest or penalties will be charged on the deferred payment provided it is paid by 31 January 2021. All taxpayers within self-assessment can take advantage […]
In response to the Coronavirus, COVID-19, the government announced there would be support for small businesses, and businesses in the retail, hospitality and leisure sectors, delivered through the Small Business Grant Fund and the Retail, Leisure and Hospitality Grant Fund. This new discretionary fund is aimed at small and micro businesses who were not eligible […]
The Chancellor has announced plans to extend the SEISS for those people whose trade continues to be, or is newly, adversely affected by COVID-19. Eligible self-employed people will be able to claim a second and final SEISS grant in August; this will be a taxable grant worth 70% of their average monthly trading profits for […]
The Chancellor has announced three changes to the job retention scheme: 1. From 1 July 2020, the scheme will be made more flexible to enable employers to bring previously furloughed employees back part time and still receive a grant for the time when they are not working. 2. From 1 August 2020, employers will have […]
Since the Government announced that the UK would be placed under lockdown on 23rd March 2020, the financial impact that this would have on thousands of businesses and individuals was, understandably, a cause of concern for everyone up and down the country. However, since this announcement the Government have pledged to support businesses and have […]
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