HMRC HAVE ANNOUNCED THE JOB RETENTION SCHEME PORTAL FOR APPLICATIONS WILL OPEN ON APRIL 20TH
The government said it would not block furloughed employees from taking on additional work during the coronavirus crisis with a different company. EG A furloughed employee can get a job in a supermarket to boost their income if they wish.
The Chancellor has set out a package of temporary, timely and targeted measures to support public services, people and businesses through this period of disruption caused by COVID-19. Lesser & Co have reviewed the guidance, translated it into a user friendly graphical format and put additional helpful interpretations to help clients navigate the support that is relevant to their individual circumstances. See below for links to the relevant summaries and templates:
Temporary stamp duty cut
Temporary Stamp Duty Land Tax (SDLT) cut – The government will temporarily increase the Nil Rate Band of Residential SDLT, in England and Northern Ireland.View video View PDF
kickstart and job retention bonus
The government will introduce a new Kick start Scheme in Great Britain and also covered in the document the Job Retention Bonus.Click here to see more info on both schemes
Flexi furlough scheme
This guidance page was updated on 12 June to include details on how the scheme will change from 1 July.Click here to see more info on the changes to the Job Retention Scheme
Job Retention Scheme will continue until end of October
Furloughed workers across UK will continue to receive 80% of their current salary, up to £2,500Click here to see more infomation on the job retention extension
SEISS Accountants can’t claim for clients - 4th May
Its been announced that the sole traders cannot ask their Accountant to make the claim on their behalf.Click here to see more infomation on the new announcement
Another grant from government for businesses - 2th May
who missed out on the previous grants of £10k and £25kView video View PDF
Small firms are to get access to 100% taxpayer-backed
After they raised concerns about slow access to existing coronavirus rescue schemes.View video View PDF
Submitting your furlough application
Submitting your application to Lesser & Co, our fees and receiving paymentClick here to see infomation on Submitting your furlough application
Lesser & Co during lockdown
12 key points on how Lesser and Co have adapted and are now operating through this difficult periodView video View PDF
How does it work for Sole Traders
Contrary to the confusion caused by the Chancellor, his announcement regarding the self employed was for sole traders only, not Directors of Ltd companies. Directors of Ltd companies instead come under the job retention scheme.Click here to see full infomation for Sole traders
Can I furlough myself ?
Basically, you are asking two questions.
Can I Furlough my self ? Can I claim back 80% of my salary (normally £719 per month) from the government?
Job Retention Scheme
The Government has issued revised guidance on the Coronavirus Job Retention Scheme.click here to view the revised guidance as of April 4th
Job Retention Scheme Latest (April 14th 2020)
Application process, reimbursement and other latest developments .click here to view the Latest guidance as of April 14th
Business Loan Scheme
CBILS has been significantly expanded along with changes to the scheme’s features and eligibility criteria. The changes mean even more smaller businesses across the UK impacted by the coronavirus crisis can access the funding they need.Click here to see a key summary on the business loan scheme Click here to see information on how to apply for the scheme
Coronavirus business grant - Waltham forest
Important update on Covid-19 grants for businesses in the Waltham forest area: You may need to act. For other councils, please check the relevant council website for further instructions.View video View Link
Support for businesses that pay little or no business rates
The government will provide additional Small Business Grant Scheme funding for local authorities to support small businesses that already pay little or no business rates because of small business rate relief (SBRR), rural rate relief (RRR) and tapered relief.View video View PDF
Cashflow Help for Clients
Support for businesses through deferring VAT payments.
Support for businesses through deferring Self-Assessment payments on account
Support for businesses paying tax :Time to Pay service
Support for retail, hospitality and leisure
Business rates holiday for retail, hospitality and leisure businesses.
Cash grants for retail, hospitality and leisure businesses.
Grant update & clarification on categories
14th April 2020 - This list sets out the types of uses that the Government does and does not consider to be an eligible use for the purpose of this relief.View video View PDF
Contact your bank to arrange a mortgage holiday if required.
See links in the this document for more info