The government has now released details of its plan to reopen businesses and venues over the coming months, as it continues to review the impact of coronavirus. You can find more information about the government's plan and how it affects your business on our Coronavirus Updates page.

If you have not yet submitted you self assessment tax return, you can avoid receiving a late penalty as long as you submit your return by 28 February 2021.

The Employer Bulletin (February 2021) from HMRC includes the latest information for employers on a number of subjects, including Coronavirus Job Retention Scheme, end of tax year reporting and the checks which need to be completed, VAT reverse charge and changes to off-payroll working (IR35) and National Insurance holiday for employers of veterans.

If you are self-employed and eligible to claim the Third grant from the government's Self-Employed Income Support Scheme (SEISS), you must make your claim on or before 29th January 2021.

You can find out more on our coronavirus page, or follow the link below to make your claim.

HMRC has announced that Self Assessment customers will not receive a penalty for filing their 2019-20 tax return late, as long as they file online by 28‌‌ ‌February. You should still file your tax return by 31‌‌ ‌January, if possible.

You will still need to pay your Self Assessment tax bill by 31‌‌ ‌January and interest will be charged from 1‌‌ ‌February on any outstanding liabilities. If you can not afford to pay your tax bill, it may be possible to set up a time to pay arrangement and pay your bill in monthly instalments. You need to submit your tax return before a time to pay arrangement can be set up.

This Employer Bulletin (December 2020, Issue 87) from HMRC provides coronavirus information, including Job Retention Scheme updates, as well as VAT and capital allowance updates, guidance for hosting virtual Christmas parties, Scottish student loan advice ...and much more! 

From 1 January 2021, there will be new rules for businesses that trade with EU countries and there isn't much time for businesses to prepare for the changes. We are pleased to launch a new dedicated page to provide general information for businesses preparing for the end of the transition.

You can view the page using the link below.

It is now possible to claim the latest Self-Employed Income Support Scheme (SEISS) grant using the government portal.

If you are eligible to claim the latest SEISS grant, you must do so on or before 29 January 2021.

With 5 November marking the start of a second UK-wide lockdown, the government has announced a number of measures that are now in place to support businesses. This includes extensions to the Job Retention Scheme and Self-Employed Income Support Scheme, as well as available grants for businesses forced to close.

We're working to update our coronavirus page as new information becomes available.

Updated coronavirus information is now available on our Coronavirus (COVID-19) Business Updates page, including:

•  a planned a Self-Employed Income Support Scheme grant extension
• a new Job Support Scheme which will begin on 1st November 2020 and will replace the current Job Retention Scheme

If you are self-employed and eligible to claim the second grant from the government's Self-Employed Income Support  Scheme (SEISS), you must make your claim on or before 19th October 2020.

That means that this weekend will be your last chance to make your claim. Use the link below to find out more and make your claim.

The government's basic message of wash hands, cover face, make space is still in effect. However, local measures have now been standardised into three alert levels - Medium, High and Very High.

The government has also included a postcode checker on gov.uk, which allows you to check which alert level applies in your area and the implications for you and your business. We have now included updated information on our Coronavirus (COVID-19) Business Updates page.

The Employer Bulletin (October 2020, Issue 86) from HMRC includes the latest information for employers on a number of subjects, including COVID-19, UK transition – National Insurance and social security coordination, IR35, student loans and much more.

From yesterday, plastic straws , cotton buds and drinks stirrers are now banned in England in the Government's latest step to reduce single-use plastic waste. This latest step is part of the Government's 25 Year Environment Plan, which aims to eliminate all avoidable plastic waste by 2042, as well as introducing a number of additional environmental measures during the remainder of the scheme.

This latest measure will, clearly, have an affect on many businesses and further advice has been made available on gov.uk.

The government has announced further national measures to address rising cases of coronavirus in England. These measures now affect the rules for face coverings, meeting with others and going about business.

You can now read updated information on our Coronavirus (COVID-19) Business Updates page. 

The Employer Bulletin (April 2020, Issue 85) from HMRC includes the latest update on the Coronavirus Job Retention Scheme, IR35, VAT, student loan repayments and more...

With the arrival of the Finance Act (2020) in July, Making Tax Digital is back on the government's agenda with new rules being applied over the next few years. VAT-registered businesses with a taxable turnover above the VAT threshold (£85,000) are already required to follow the Making Tax Digital rules by keeping digital records and using software to submit their VAT returns.

From April 2022, the voluntarily VAT-registered (VAT-able turnover below £85K) will also be required keep and submit their financial information digitally.

The scheme will also be applied to self-employed businesses and landlords with annual business or property income above £10,000 from April 2023.

Many businesses have already started using digital software to keep and submit their financial data.

Face coverings will become mandatory in shops and supermarkets in England from 24th July. The rule does not apply to shop employees, although it is recommended.

Under the new rules, people who do not wear a face covering will face a fine of up to £100, in line with the sanction on public transport and just as with public transport, children under 11 and those with certain disabilities will be exempt.

The liability for wearing a face covering lies with the individual.

Should an individual without an exemption refuse to wear a face covering, a shop can refuse them entry and can call the police if people refuse to comply, the police have the formal enforcement powers and can issue a fine.

Read full statement by Health and Social Care Secretary

Read more about face coverings on BBC news

Read government advice on how to make your own face covering 

The Employer Bulletin (June 2020, Issue 84) from HMRC includes the latest information for employers on a number of subjects, including COVID-19, pensions, payroll software updates and immigration.

From 1 January 2021, free movement within the EU will end and the UK will introduce a points-based immigration system. What does this mean for employers? The government has produced the following document The UK's points-based

immigration system: An introduction for employers, to introduce businesses to the new scheme.

This week the Chancellor announced the introduction of the Job Retention Bonus.

This is a one-off payment of £1,000 to employers that have used the Coronavirus Job Retention Scheme (CJRS) for each furloughed employee who remains continuously employed until 31 January 2021. The bonus will provide additional support to retain employees.

To be eligible, employees will need to:

• earn at least £520 per month (above the Lower Earnings Limit) on average for November, December and January
• have been furloughed at any point and legitimately claimed for under the Coronavirus Job Retention Scheme
• have been continuously employed up until at least 31 January 2021.

Employers will be able to claim the bonus from February 2021 once accurate RTI data to 31 January has been received. More information about this scheme will be available by 31 July and full guidance will be published in the Autumn.

This week the Chancellor has announced a  'Plan for Jobs' which aims to help UK recovery by supporting, creating and protecting jobs.

• Supporting Jobs

This will include a Job Retention Bonus to help businesses continue employing staff who have been furloughed. A  new Kickstart Scheme will also make funding available to help businesses employ young people, as well as proving funding for training and apprenticeships.

• Creating Jobs

Plans have now been put in place to make funding available for infrastructure, decarbonisation and maintenance projects. The resulting projects to improve UK roads and public buildings, as well as an increased focus on energy saving solutions for home owners and landlords, is planned to create tens of thousands of new jobs.

• Protecting Jobs

This involves supporting the tourism and hospitality industries with a reduction of VAT on many tourism and hospitality-related activities. Additionally, a proposed Eat Out to Help Out Scheme will allow participating cafes, pubs and restaurants to offer 50% off sit-down meals on Mondays to Fridays throughout August.

As well as this, a temporary increase to the Nil Rate Band of Residential SDLT (Stamp Duty) from £125,000 to £500,000 until 31 March 2021. This means that many who plan to get on, or move up, the property ladder will not have to pay Stamp Duty.

Source: HM Treasury

The Chancellor has announced three changes to the job retention scheme:

1. From 1 July 2020, the scheme will be made more flexible to enable employers to bring previously furloughed employees back part time and still receive a grant for the time when they are not working.
2. From 1 August 2020, employers will have to start contributing to the wage costs of paying their furloughed staff and this employer contribution will gradually increase in September and October.
3. The scheme will close to anyone who hasn’t been furloughed for 3 weeks by 30 June, so employers will only be able to claim for employees after that if they have been furloughed for a full three-week period at any time before the end of June. Therefore, to benefit from this extension employees must be furloughed by 10 June.

We expect more information to made available on gov.uk on 12th June.

Find out more by following the link above.

Source: Gov.uk 

The Chancellor recently announced plans to extend the Self-Employment Income Support Scheme (SEISS) for those whose trade continues to be, or is newly, affected by COVID-19 (coronavirus). Eligible self-employed people will be able to claim a second and final SEISS grant in August. This will be a taxable grant worth 70% of their average monthly trading profits for three months, paid out in a single instalment and capped at £6,570 in total.

The eligibility criteria for the second grant will be the same as for the first grant. You do not need to have claimed the first grant to claim the second grant. For example, your business may have been adversely affected by COVID-19 (coronavirus) more recently.

We expect more information to made available on gov.uk on 12th June.

If you are eligible to receive an initial grant as part of the SEISS, but haven't yet made a claim, you must do so before 13th July.

This scheme, delivered by the British Business Bank, will issue convertible loans between £125,000 to £5 million to certain companies which are facing financing difficulties due to the coronavirus outbreak.

In order to apply, your business must be eligible. For example, these convertible loans may be an option for businesses that rely on equity investment and are unable to access other government business support programmes because they are either pre-revenue or pre-profit. The scheme is initially open for applications until the end of September 2020.

The Coronavirus Statutory Sick Pay Rebate Scheme will repay employers the sick pay paid to current or former employees as a result of Coronavirus. For those who qualify to claim a rebate, an online service on gov.uk is due to become available from 26 May.

This new online tool from Gov.uk allows you to check whether you are eligible to make a claim as part of the Coronavirus Self-Employed Income Support Scheme. To use this tool you will need:

• Self Assessment Unique Taxpayer Reference (UTR) number 
• National Insurance number

Source: Gov.uk 

The Employer Bulletin (April 2020, Issue 83) from HMRC includes the latest update on the Coronavirus Job Retention Scheme, along with updates on the Statutory Sick Pay Rebate Scheme and the deferral of VAT payments.

Claim for 80% of your employee’s wages plus any employer National Insurance and pension contributions, if you have put them on furlough because of coronavirus (COVID-19).

The HMRC Portal is now open for businesses to make a claim.

Source: Gov.uk 

A new booking feature has now been included on our website, allowing you to book consultations with us at time convenient for you.

Businesses will be given an additional 3 months to file accounts with Companies House to help companies avoid penalties as they deal with the impact of COVID-19.

Source: Companies House

Rosevale Accountants is currently not arranging any face-to-face meetings until further notice. Our team and Subcontractors are working from home and maintaining contact via email, phone and video-conferencing.

New HMRC helpline launched to help businesses concerned about paying their tax due to coronavirus (COVID-19).

Source: HMRC

All HMRC tax related documents and other announcements for Budget 2020.

Source: HMRC