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It is common practice for director/shareholders to be paid a modest salary through PAYE and pay the balance of their remuneration in dividends.  This of course is perfectly permissible if the company has profits available to distribute to shareholders and there is no breach of directors’ duty.  Unfortunately, the dramatic effect that the Coronavirus is…

The Government have announced that the Statutory Sick Pay Rebate Scheme, which will enable employers with fewer than 250 employees to claim Coronavirus-related Statutory Sick Pay will launch online on 26 May 2020.   Employers are eligible to use the scheme if:   they’re claiming for an employee who’s eligible for sick pay due to…

If you are an employee with a company car, and maybe fuel provided, it is worthwhile considering giving up the car, or fuel, during the current pandemic if you are working from home or furloughed.   A company car benefit in kind (BIK) is a set amount based on the list price and emissions regardless…

Like many Government departments, Companies House have relaxed various compliance requirements to support businesses to get through this Covid-19 period. In their latest announcement, they are making the following temporary changes to their strike off policies:   Voluntary (Form DS01 submitted) Strike Off Applications – Process halted after notice published in London Gazette. Automatic Dissolutions…

HMRC have announced temporary zero rating of personal protective equipment (PPE) recommended for use by Public Health England.  This is good news for care homes and others that are incurring significant additional costs on purchasing PPE at the moment but are unable to reclaim VAT.  The zero-rating is effect for supplies made between 1 May…

Although some sectors of agriculture are weathering the coronavirus storm quite well for others there are serious issues. For those whose cash-flow has been particularly impacted and who have loans or rent, land or buildings from SSAS or SIPP pension schemes a recent announcement from HM Revenue & Customs may offer some help:-   HMRC…

On Saturday, the Government announced a top up to the local business grants scheme fund. While details are currently scarce, the scheme is aimed to help businesses that did not qualify for a grant under existing grant schemes.   The fund can be distributed at the discretion of local authorities, but will be aimed at…

Business Bounce Back Loans are currently only being provided by the 9 main banks.   In addition, most of these banks are currently only making these loans available to their existing customers.   However, HSBC are accepting online applications from non-customers on their website.   For a the up to date list of lenders visit…

Key features of the BBLS:   The scheme is a 100% government backed initiative for small businesses.   You can apply* for a loan between £2,000 and £50,000 (up to a maximum of 25% annual turnover), for 6 years.   No repayments required for the first 12 months, and you won’t pay any charges should…

The claims service will open ahead of schedule on 13 May with money in bank accounts by 25 May.   HMRC have announced that from today (4 May) businesses can either go online to check their eligibility or wait to be contacted by HMRC.   https://www.gov.uk/government/news/self-employed-invited-to-get-ready-to-make-their-claims-for-coronavirus-covid-19-support   Scams   HMRC will contact eligible customers to…