If you read my blog on Sunday you could be forgiven for wondering if you can believe anything the government and civil servants tell us about the economy. So when the governor of the Bank of England issued a statement on Monday you probably thought “At last – someone sensible. He’ll tell us what is really going…
It makes you wonder who to believe
While most of us, quite rightly, have been focused on the easing of the lock-in and when we can get back to work we have also just witnessed one of the most extraordinary weeks in the political economy. On Wednesday a young black lad brought up on the largest council estate in Europe persuaded the…
Changes to the coronavirus job retention scheme (CJRS) from 1 July 2020
On 12 June 2020 HMRC amended eight pieces of guidance regarding the coronavirus job retention scheme (CJRS) for employers who want to furlough employees from 1 July. The rules will change again from 1 August when no pension costs or employer’s NIC will be reclaimable. In September and October, the amount of wages which can…
Update on the Self-employed Income Support Scheme
The SEISS portal open for applications in phases between 13 and 18 May. Here is the latest information we have the on the scheme. Eligibility checker HMRC’s eligibility checker went live on 4 May and is available to taxpayers and their agents. In a small number of cases, the checker is giving an incorrect not-eligible result. This mostly affects…
We face huge challenges, but isn’t that a good thing?
Where many seem to be struggling with the pandemic quarantine, I’ve found home isolation, and the lack of social commitments, freeing. It’s allowed me to become more contemplative, and connected to the rhythms of family life. It’s not that I’m anti-social. I enjoy limited social engagements. But since I started my own practice some years…
New ‘top-up’ rates grants available for left-out businesses
The government has made extra money available to a range of businesses not previously covered by business rates holidays or support grants. The new discretionary ‘top-up’ fund caters for small businesses with ongoing fixed property costs. The kinds of businesses that may now qualify for help include those in shared workspace offices, regular market traders and small…
Tax agents unable to make Self-Employed Income Support Scheme claims on behalf of clients
Just when they hoped the government was coming to their rescue, the millions of self-employed workers in the UK have been delivered a blow by HMRC who have announced that their tax agents are barred from claiming the self-employed income support scheme (SEISS) grant on their behalf. The SEISS will be open for applications from…
Have you applied for your Bounce Back Loan yet?
If you run your own business as either a sole trader or limited company there won’t be many days when the government gives you something for free. But today is one of those days. The Bounce Back Loan Scheme (BBLS) went live on this morning. Businesses can borrow up to £50,000 (or 25% of their annual…
Have you applied for your Bounce Back Loan yet?
If you run your own business as either a sole trader or limited company there won’t be many days when the government gives you something for free. But today is one of those days. The Bounce Back Loan Scheme (BBLS) went live on this morning. Businesses can borrow up to £50,000 (or 25% of their annual…
Small companies to get 100% loan guarantees
Bowing to pressure from business groups and MPs to boost the generosity of the government guarantee on its emergency loan scheme during the pandemic, the Chancellor has announced that the UKs smallest businesses will be offered 100% government-backed rescue loans. As recently as last week he said he was “not persuaded” by calls to provide…
