In the Chancellor’s statement on 8th July 2020 he shared the government’s plans to temporarily change the UK VAT from 20% to 5% for certain hospitality, hotel, holiday accommodation and admissions to certain attractions to temporarily support businesses severely affected by forced closures and social distancing measures. This cut in the VAT rate from the Continue reading
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Second stage of Self-Employment Income Support grants
The Government announced that from July 2020 anyone whose self-employed business has been adversely affected by coronavirus since 14 July is eligible for a self employment grant. The second and final taxable grant is worth 70% of your average monthly trading profits, paid out in a single instalment covering 3 months’ worth of profits, and Continue reading
September Furlough update – Here’s what you need to know
Changes to the UK Coronavirus Job Retention Scheme, which was put into place in March, will end in October with changes going live from the 1st September. Here’s what you need to know: Since the scheme began 1000’s of furloughed employees have been entitled to claim 80% of their wages up to £2500 per month Continue reading