An insight from the gbac team on all things accounting, finance and more.
Cycling has received a significant boost since the Coronavirus crisis, with more people cycling to avoid public transport and get back to work. Cycle-to-work schemes give tax benefits to both employers and employees. How the scheme works: Employers can register directly with most major retailers that support this scheme, typically by completing an online application, […]
The Covid-19 furlough scheme has been effectively revised into a new scheme running from 1 July until 31 October, but this comes with a level of complexity that did not exist in its original guise. Much of the complexity arises because employers can now bring furloughed employees back to work flexibly on a part-time basis, […]
If you are self-employed or a member of a partnership and were eligible for the first self-employed income support grant, you will be eligible to claim for the second and final grant from the 17th August 2020, provided that you can confirm with HMRC that your business has been adversely affected by COVID-19 on or after 14th July […]
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 […]
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