Latest Blogs

The deadline for applying for the first grant under the Self Employment Income Support Scheme (SEISS) is 13 July 2020.  This grant, which is available to eligible individuals, amounts to 80% of your average monthly trading profits.  The grant covers a period of three months and is capped at a maximum of £7500.  To find out whether…

HMRC have issued a policy paper confirming  that the Coronavirus Job Retention Scheme (CJRS) for employees that have been furloughed will close on 31 October 2020.  The policy paper also outlines the timetable for changes to the scheme over the coming months.   The policy paper can be found here:   https://www.gov.uk/government/publications/changes-to-the-coronavirus-job-retention-scheme/changes-to-the-coronavirus-job-retention-scheme   At Whiting &…

Urgent reminder that tomorrow (10th June) is the last day you can begin an employee on furlough for the first time, for the 3 weeks minimum on this first scheme. This is very important because if they are ever likely to want to furlough any employee from 1st July to 31st October on the ‘new’…

HMRC has announced that the domestic reverse charge on constructions services, which is due to come into effect on 1 October 2020 has been delayed until 1 March 2021.  This will be welcome news as it provides businesses with additional time to prepare for the introduction of these new rules.   At Whiting & Partners…

In March 2020 HMRC announced that businesses had the option to defer VAT payments falling due between 20 March 2020 and 30 June 2020 until 31 March 2021.  An important step in taking  advantage of this easement is to cancel your Direct Debit.  Where you have failed to do this and your VAT payment has…

The Charity Commission released updated guidelines in April 2020 for auditors and independent examiners. This was based around the statutory duty to report to the charity regulators in the UK on matters of material significance.   The three main changes in this updated guidance are as follows: confirmation that difficulties in carrying out an audit…

From 1st July, whilst still appreciating the benefits of the Furlough Scheme, employers will be able to benefit from the option of bringing employees back to work on a part time basis. This is one month earlier than had previously been announced.   Whilst working, employers will be required to pay their employees at their…

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…