Read the latest articles, newsletters and press releases from Thompson Jenner, one of Devon's leading firms of independent chartered accountants and business advisers.
CORONAVIRUS: We will be updating our Latest News feed with regular information on the business support measures as they are announced by the government.
The Chancellor has today made some key announcements that will effect businesses and individuals. Below we sum up the main points raised.
8th July 2020
From July 2020 onwards, furloughed workers will be able to return to work and carry out that work for any amount of time and under any flexible pattern.
3rd July 2020
The Government gave businesses the option of deferring their VAT payments if they were unable to pay on time, as part of their support during Covid-19. Payment of VAT falling due between 20 March and 30 June 2020 can be deferred until 31 March 2021.
19th June 2020
You may recall that this scheme was originally going to be introduced by HMRC on 1 October 2019. However, to avoid the changes coinciding with Brexit this scheme was pushed back to 1 October 2020 so that businesses would be given more time to prepare for the changes.
10th June 2020
A second grant will be made available for this scheme in August 2020.
To recap, the scheme allows eligible individuals to claim a taxable grant, which is worth up to 80% of their average monthly trading profits (capped at £2,500 pcm). This was to cover three months’ worth of profits to the end of May 2020, resulting in payments received of up to £7,500.
1st June 2020
The government confirmed recently that this scheme would be extended to October 2020. However, from August 2020 onwards employers will be required to start to contribute to the cost of this scheme.
1st June 2020
From 26 May 2020, HMRC will open a facility to allow employers to reclaim SSP paid due to the current crisis.
22nd May 2020
HMRC have now begun contacting individuals inviting them to register for the SEISS grant. However, there are a lot of cases to deal with, which means many individuals may receive their instructions to claim this grant later than first anticipated.
14th May 2020
The Chancellor has announced today that the Employee Job Retention Scheme will now be extended till October 2020. This scheme was originally designed to last until June 2020.
12th May 2020
As HMRC starts to contact taxpayers who may be eligible for the Self-Employment Income Support Scheme (SEISS), we outline how the claims process works and what applicants need to do to check their eligibility and make a claim.
6th May 2020