Leaving salaries or dividends in your company

June 23rd, 2020

Director/shareholders of small companies may be considering reducing their salaries and/or dividends during this uncertain period. Even if firms are managing to maintain profits or breakeven, prudence would suggest that until things improve we should do what ever we can to preserve cash reserves. Many directors have taken the sensible option to minimise their salaries […]

New support for High Street retailers

June 18th, 2020

The High Street Task Force has launched a range of support options for High Street traders in England. In a press release issued 12 June it was announced:   A package of support to help high streets to get back on their feet has been launched ahead of shops reopening from 15 June. The High […]

Problems as we emerge from lock-down

June 16th, 2020

The precautions taken by government to contain the COVID-19 outbreak, commonly known as lock-down, have created varying problem for UK businesses. As we ease our way out of lock-down many of us will have further issues to confront. This post considers some of those issues. According to the Office for National Statistics, economic activity in […]

Ban on evictions extended by two months

June 11th, 2020

Renters across England and Wales will receive greater protection after the government extended the suspension of new evictions until 23 August.   The Ministry of Housing published the following press release 5 June 2020: Millions of renters across England and Wales will receive greater protection after the government extended the suspension of new evictions until […]

Furlough scheme changes clarified

June 10th, 2020

HMRC released more information on the up-coming changes to the furlough scheme (CJRS) last week. A summary of two of the issues are set out below. Have you over-claimed? If you have made an error when making a claim under the CJRS and as a result you have received too much money, you must pay […]

Re-opening retail businesses from June 2020

June 4th, 2020

A time-table has been announced for the re-opening of thousands of high street shops, department stores and shopping centres in England once they are COVID secure. The Prime Minister’s announcement published 25 May 2020 says: outdoor markets and car showrooms will be able to reopen from 1 June, as soon as they are able to […]

Tax Diary June/July 2020

June 2nd, 2020

1 June 2020 – Due date for Corporation Tax due for the year ended 31 August 2019. 19 June 2020 – PAYE and NIC deductions due for month ended 5 June 2020. (If you pay your tax electronically the due date is 22 June 2020) 19 June 2020 – Filing deadline for the CIS300 monthly […]

Trade Credit Insurance update

June 2nd, 2020

Trade Credit Insurance provides cover to hundreds of thousands of business to business transactions, particularly in non-service sectors, such as manufacturing and construction. It covers suppliers selling goods against the company they are selling to, defaulting on payment and giving businesses the confidence to trade with one another. Due to Coronavirus and businesses struggling to […]

Calculating holiday pay for workers without fixed hours

June 2nd, 2020

Government guidelines on this topic advise: The amount of pay that a worker receives for the holiday they take depends on the number of hours they work and how they are paid for those hours. The principle is that pay received by a worker while they are on holiday should reflect what they would have […]

Coronavirus Job Retention Scheme (CJRS)

June 2nd, 2020

On 12 May 2020, the Chancellor confirmed that this scheme will be extended until 31 October 2020. On the 29th May he confirmed the details of how the scheme would be changed to a flexible arrangement from 1 July 2020. Until 1 September 2020, claims for time not worked will continue to be based on […]