Coronavirus Job Retention Scheme

• The Furlough has now been extended to the end of October 2020.

• The Furlough scheme is now closed to new entrants.

• If your Furlough staff are back at work and you find that your work is
drying back up then you can Furlough the staff again. As long as they
were on the Furlough scheme before the 10th June 2020.

• Please remember that employees have to be furloughed for a
minimum period of 3 weeks.

• The furlough scheme from the 1 st July 2020 is more flexible.

• Employees can now work part time hours while the company can
still claim the grant for the normal hours not worked.

From August

• Employers will have to pay employee’s National Insurance
Contributions and pension contributions.

• The Government will still contribute 80% of furloughed
employees wages up to the cap of £2,500

From September

• The Government will contribute 7 0% of furloughed employees
wages up to a cap of £2,187.50

• Employers will have to contribute 10% of the furlough staff
wages to make up the 80%

•The cap of £2,500 still stands.

From October

• The Government will contribute 60% of furloughed employees
wages up to a cap of £1,875

• Employers will have to contribute 20% of the furlough staff
wages to make up the 80%

• The cap of £2,500 still stands.

VAT – Deferred Payments

• VAT Payments due between 20th March 2020 to 30th June 2020 can be
deferred until the 31 st March 2021.

• Payment will need to be received in full before the 31 st March 2021 in order to stop HMRC applying fines and charges.

• For VAT returns with a period ending MAY 2020, these will need to paid as
normal before the 7 th July 2020.

• If you paid your VAT by Direct Debit and cancelled your DD to defer your
payment then you will need to re instate your DD with HMRC if you wish to
pay via DD going forward

• If you are having any difficulties in paying your VAT then please click on the link below

Difficulties paying HMRC

Self- Employed Grants

• HMRC have announced that the self employment grant will be extended
with another payment due out in August 2020.

• The grant will be worked out on your average trading profits for the last 3
tax years (2016 2017,2017 2018 & 2018 2019)

• Payments will be made directly into your bank account as a lump sum
covering a 3 month period.

• Payments will be made in August 2020

• The grant will be worth 70% of your average monthly trading profits.

• The Grant will be capped at £6,570.

• To make a claim you will need the following information.

• Your Unique Taxpayer Reference (UTR) Number This is on the top of any
tax returns which we have sent you.

• Your National Insurance Number

• Your Bank Account Number and Sort Code.

• Your Government Gateway user ID and password.

• If you don’t have one or have forgotten the details then I suggest that
you register NOW.

• Click on the link below to register

• Once the system is live or we have a date then we shall email you to let
you know.

• The link below will keep you up to date with the latest information

• a grant through the coronavirus
covid 19 self employment income support scheme

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