Tax Scams in the Pandemic
A Freedom of Information request from the firm has revealed taxpayers reported 9,948 Covid-related scams to HMRC between January and June. Activity peaked in May, with 5,048 incidents explicitly mentioning Covid, then proceeded to fall by over 55% to 2,495 in June. The total number of all phishing scams reported to HMRC was 44,777 in…
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Kickstart Scheme
You can use the Kickstart Scheme to create new 6-month job placements for young people who are currently on Universal Credit and at risk of long-term unemployment. The job placements should support the participants to develop the skills and experience they need to find work after completing the scheme. Funding is available for 100% of…
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Coronavirus Job Retention Scheme Compliance Letters
The first wave of compliance letters regarding the Coronavirus Job Retention Scheme (CJRS) were issued last week as HMRC moves into the post transaction review phase of the scheme. The first batch of letters started to land on doormats from Wednesday 18 August. HMRC will be asking questions where they have concerns over the validity…
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Furloughed Workers and Redundancy Payments
Employees with more than two years’ continuous service who are made redundant are usually entitled to a statutory redundancy payment that is based on length of service, age and pay, up to a statutory maximum. The government said throughout the pandemic, it has urged businesses to do right by their employees and pay those being…
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R&D Tax Credits
R&D tax credits A guide to the tax relief available to innovative SMEs. Research and development (R&D) tax relief for small companies provides an enhanced deduction for the costs of qualifying R&D projects. R&D tax relief for large companies is given as an expenditure credit in the company’s profit and loss account before the tax…
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Flexable Furlough
1. Who can go on flexible furlough? From 1 July 2020 only employees that employers successfully claimed a previous government grant for will be eligible for more grants under the Job Retention Scheme. This means they must have previously been furloughed for at least three consecutive weeks taking place any time between 1 March and…
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Cashflow Forecast
Predicting your future… with financial forecasting With the pandemic still very much on the mind of business owner there has never being an more important time to look at cash-flow forecasting to ensure that your business has the cash to pay suppliers, wages. An all too common story Have you ever experienced that moment when…
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Cloud Accounting
Cloud Accounting and Bookkeeping Overview There is now the opportunity to have you cloud accounting software which means you no longer need to have this installed on your desktop you can access this via an internet connection from anywhere. This will avoid the upgrades like with Sage as you will always have the latest version…
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Important changes to the Government Furlough Scheme
As the government begins to ease lockdown measures that will see more people return to work, employers should be aware of upcoming changes to the Coronavirus Job Retention Scheme (CJRS), also known as ‘furlough’. Here is a summary of these changes, based on our current understanding. Important dates & changes for June/July: 10 June: This…
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Auto-enrolment
Auto Enrolment It is now law that as an employer you have legal obligation to offer a workplace pension to all employees and any new starters in the future although as this has been law for a few years already most existing employees have already been enrolled in the pension. As an employer you also…
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